The government has cancelled the auction of 11 critical mineral blocks in the fourth round due to poor response.While no bids were received for four blocks, the remaining seven mines got less than three technically qualified bidders, according to the annulment notice.
The four blocks which include tungsten and glauconite, are located in the states of Chhattisgarh and Arunachal Pradesh.
“Since there were nil bids received….the auction process for four mineral blocks stands annulled,” the notice said.
Critical minerals, such as cobalt, copper, lithium, nickel and rare earths, play crucial roles in the production of clean energy technologies, ranging from wind turbines to electric vehicles.
“Since there were less than three technically qualified bidders…the auction process of these seven mineral blocks stands annulled,” the notice said.
The government had earlier cancelled the auction of three critical mineral blocks in the third round, 14 blocks in the second round, and 14 in the first tranche of critical minerals as the response was lukewarm.
The government had earlier said that 24 critical and strategic mineral blocks have been sold in four rounds of auction.
“Out of 48 blocks put to e-auction, 24 have been successfully auctioned, including four mining lease (ML) and 20 composite licenses (CL) blocks,” the mines ministry had said.
India is all set to launch a Critical Mineral Mission in the upcoming year to secure vital resources for green energy and technology.