The government on Monday launched the first-ever auction process for limestone mineral blocks in the Union Territory of Jammu & Kashmir.
Seven limestone blocks, spread across the districts of Anantnag, Rajouri, and Poonch, were put up for auction.
What did the govt say?
These blocks, classified under G3 and G4 stages of the United Nations Framework Classification (UNFC), cover approximately 314 hectares and are anticipated to generate significant industrial interest, particularly in the cement and construction sectors, the government said.
The government highlighted that the auction, being conducted under subsections (4) and (5) of Section 11 of the Mines and Minerals (Development and Regulation) Act (MMDR Act), 2015 Act, represents a major step forward in unlocking the mineral wealth of Jammu & Kashmir, which is now entering the national competitive bidding ecosystem for the first time.
Govt on the operation’s impact on J&K economy
Jammu & Kashmir is witnessing improvements in connectivity and infrastructure, which support mining and allied sectors. The successful auction is expected to boost local industry, generate employment, and contribute to the government’s vision of fast-tracking economic growth in Jammu & Kashmir, the government said.
Lithium is a critical mineral used in various sectors ranging from energy storage projects, electric vehicle batteries to consumer electronics.