New Delhi, Jun 24 (PTI) Maiki South Mining Pvt Ltd has bagged the country's first lithium block in Chhattisgarh, the government said on Monday.

The block was awarded to the company at an auction premium of 76.05 per cent.

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The result was declared during the launch of the fourth round of auctions of critical and strategic minerals.

Maiki South Mining has emerged as the preferred bidder for Katghora Lithium and rare earth elements (REE) block in Chhattisgarh, the mines ministry said.

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Union Minister of Coal and Mines G Kishan Reddy announced the launch of the fourth round of auction of critical and strategic minerals in which 21 blocks have been put on sale.

Of these blocks, 11 are fresh blocks in states, including Arunachal Pradesh, Jharkhand, Karnataka.

Speaking on the occasion, Reddy said the reforms that took place in 2015 in the mining and mineral sector is showing benefits.

Speaking on the occasion, Mines Secretary V L Kantha Rao said the mines ministry will ensure the production from critical minerals begins very soon.

He also assured that in every 15 days there will be reform in the mining sector.

The government received 56 physical bids and 56 online bids for 18 of the 20 blocks offered during the first tranche of the auction, which began on November 29, 2023.

However, the auction for 13 of the 20 blocks was cancelled due to a lukewarm response.

Seven of these cancelled blocks were re-notified for auction in the third round.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)