Maiki South Mining has secured the nation's inaugural lithium block in Chhattisgarh, which was offered for sale, according to an announcement by the government. Simultaneously, the government informed about the cancellation of the auction for 14 critical minerals that were included in the second round of auctions.

The Katghora lithium and rare earth elements (REE) block in Chhattisgarh was awarded to Maiki South Mining at an auction premium of 76.05%.

The outcome was revealed at the launch of the fourth round of auctions for critical and strategic minerals.

As per the mines ministry, Maiki South Mining has been identified as the preferred bidder for the Katghora Lithium and rare earth elements (REE) block in Chhattisgarh.

During the launch event for the fourth round of auction for critical and strategic minerals, the names of the preferred bidders for the six blocks auctioned in the first round were announced.

The other bidders for the five blocks included Agrasen Sponge, Kundan Gold Mines, Dalmia Bharat Refractories, and Sagar Stone Industries.

Agrasen Sponge secured two blocks in Odisha, Kundan Gold Mines acquired a graphite mine in the same state, Dalmia Bharat Refractories obtained a graphite block in Tamil Nadu, and Sagar Stone Industries won a phosphorite block in Uttar Pradesh.

Union Minister of Coal and Mines G Kishan Reddy, speaking during the function, announced the commencement of the fourth round of auction for critical and strategic minerals, featuring 21 blocks up for sale.

Among these blocks, 11 are new ones located in states like Arunachal Pradesh, Jharkhand, and Karnataka.

Addressing the audience, Reddy highlighted that the reforms implemented in the mining and mineral sector since 2015 are yielding positive results.

According to the Ministry of Mines' cancellation notice posted on the MSTC website, the auction of 14 critical mineral blocks in the second round was revoked. Five blocks received no bids, while the bids received for the remaining blocks fell short of the minimum requirement of three.

During the launch event, Mines Secretary V L Kantha Rao affirmed that the ministry will ensure the prompt commencement of production from critical minerals.