Government Cancels 9 Critical Mineral Auctions
The government has cancelled the auction process for nine critical and strategic mineral blocks after weak investor participation and a shortage of qualified bidders in the seventh tranche of mineral block auctions.
Critical Mineral Block Auction Cancelled
The cancelled blocks were part of the seventh round of auctions launched to expand domestic exploration of minerals considered important for energy security, clean technology manufacturing and reducing India’s dependence on imports.
Two blocks received no bids, leading the mines ministry to annul their auction process. These include the Majhauli Titanium, Vanadium and Aluminous Laterite Block in Madhya Pradesh and the RAMB Degana Tungsten, Lithium and Associated Mineral Block in Rajasthan.
Poor Investor Response Hits Mineral Sale
The auction process for seven other blocks was also cancelled because fewer than three technically qualified bidders participated. These blocks include glauconite, vanadium-bearing magnetite-ilmenite and graphite assets located in Bihar, Chhattisgarh and Odisha.
The cancelled blocks include Nawara-Nawadih Glauconite Block, Tipa Glauconite Block, Shahpur Glauconite Block, Sapneri Vanadium Bearing Magnetite-Ilmenite Block, Gurur Glauconite Block, Karahibhadar Glauconite Block and Naringpanga South Graphite Block.
India Critical Minerals Push Faces Hurdle
The seventh tranche had offered 19 critical and strategic mineral blocks under the Mines and Minerals (Development and Regulation) Act, 1957, and the Mineral (Auction) Rules, 2015.
The round included minerals such as graphite, rare earth elements, vanadium, titanium, glauconite, rock phosphate and associated minerals. It also marked the first time the Centre auctioned critical mineral blocks in Gujarat, Uttarakhand and Telangana.
The cancellations underline continuing challenges in attracting private investment to critical mineral exploration, where high capital costs, technical risks and regulatory issues remain key concerns.neral auction
