Which Asian nation has started an online auction for 20 essential mineral blocks, such as graphite and lithium?
India
2023 December
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For the first time, India sought bids on 20 vital mineral blocks, comprising graphite and lithium. This is seen to promote economic growth and is also a component of the country's plan to guarantee sufficient domestic supplies of vital raw materials to drive the transition to green energy. An open, transparent, two-stage ascending forward auction procedure will be used for the online sale. The highest percentage of the quoted value of the dispatched minerals offered by eligible bidders will determine who advances.