India's Ministry of Mines has announced the winners of the first round of critical mineral block auctions, including the highly contested Katghora block. The auctions, which were launched on November 23 last year with 20 mines, received bids for phosphorite, fertiliser minerals, and more. The lithium block in Chhattisgarh attracted significant attention with over 10 bids, while graphite mines saw 4-5 bidders per block. A third round of auctions for seven blocks, for which bids were annulled in the first attempt, is currently underway. In total, 38 critical and strategic mineral blocks have been put up for auction to date. Additionally, the Ministry of Mines has launched the fourth round of critical mineral auctions, along with a new scheme for partial reimbursement of exploration expenses and the presentation of certificates to two Notified Private Exploration Agencies (NPEAs) [99eedd98].
India's Ministry of Heavy Industries has issued a request for proposals to select manufacturers to set up 10 GWh manufacturing capacities for Advance Chemistry Cell (ACC) under the Production Linked Incentive (PLI) program. This initiative aims to boost the domestic production of battery cells and support the country's transition to electric vehicles and renewable energy storage. The selected manufacturers will receive financial incentives based on their production output. This move is part of India's efforts to reduce its dependence on imported battery cells and strengthen its position in the global battery manufacturing market [517517a6].
In another development, the Karnataka Electricity Regulatory Commission has released a draft proposal to allow peer-to-peer solar energy trading in the state using blockchain technology. This initiative aims to enable consumers with solar installations to sell excess electricity to neighboring consumers directly, bypassing the traditional distribution network. By leveraging blockchain technology, the process can be transparent, secure, and efficient. This move is expected to promote the adoption of solar energy and encourage the growth of decentralized energy systems in Karnataka [517517a6].
Albemarle, the world's largest lithium producer, plans to hold more auctions for the metal used in electric vehicle batteries to boost price transparency and promote a better understanding of the opaque market. The move is aimed at building trust and providing a global reference point for lithium prices. Albemarle auctioned some of its Australian lithium supplies in March and plans to replicate the practice globally. The company intends to provide auction data to pricing agencies to formulate publicly available prices. Albemarle also plans to tap into the potential of its lithium production in Chile's Salar de Atacama and is focused on internal organic investments rather than acquisitions [40392f71].