EconomyMonday, 23 March 2026·https://testbook.com/current-affairs/23-march-2026-daily-current-affairs
Critical mineral auction 7th tranche launched under MMDR Act framework with 19 blocks
The Ministry of Mines launched the 7th tranche of critical and strategic mineral block auctions on 23 March 2026.
Key highlights
Direct fact
On 23 March 2026, Union Coal and Mines Minister G. Kishan Reddy launched the 7th tranche of auction of critical and strategic mineral blocks under the MMDR Act, 1957 framework.
Key specifics
- The tranche offers 19 blocks across various states.
- Critical minerals mentioned include lithium, graphite, tungsten and rare earth elements (REE).
- After the August 2023 amendment to the MMDR Act, the Centre can auction 24 minerals classified as critical and strategic.
- Revenue from the auction accrues to the respective State Governments.
- The Mineral (Auction) Amendment Rules, 2026 allow Insurance Surety Bonds instead of bank guarantees.
Exam lens
Economy and mineral policy question, 23 March 2026, MMDR Act 1957, 19 blocks, 24 minerals, Insurance Surety Bonds; TNPSC may ask the minister and the legal basis for auctioning critical minerals.