Why is it significant for the government to scrap the auction of critical mineral blocks
Government decides to cancel the auction of 3 critical mineral blocks.
- Ensures strategic control: Scrapping the auction allows the government to retain control over critical mineral resources, vital for national security and economic stability.
- Prevents exploitation: By not auctioning off these blocks, the government can prevent potential exploitation by private entities and ensure sustainable and responsible mining practices.
- Promotes domestic industry: Retaining ownership of critical mineral blocks can boost domestic industries dependent on these resources, reducing reliance on imports.
- Encourages strategic partnerships: The government can leverage these mineral blocks for strategic partnerships with countries to secure stable supplies and enhance diplomatic relations.
- Facilitates long-term planning: Keeping control over critical minerals allows for long-term planning to meet future national needs and technological advancements.
Answered
9 months ago