Centre Cancels Auction for 13 Mineral Blocks Amid Weak Response

01 Apr 2024 CW Team

The Centre's bid to expedite the acquisition of critical mineral reserves faced a setback as it announced the cancellation of auction proceedings for 13 out of the 20 blocks initially offered. The decision, prompted by a lackluster response from bidders, particularly affects mineral-rich states like Bihar, Jharkhand, Odisha, Tamil Nadu, Uttar Pradesh, and Jammu and Kashmir (J&K).

These blocks encompass a variety of crucial minerals such as glauconite, nickel, chromium, platinum group elements (PGE), potash, copper, molybdenum ore, graphite, and lithium, among others.

Out of the 13 abandoned mines, two failed to attract any bids at all, both located in Tamil Nadu and holding molybdenum reserves. However, the government remains undeterred, as seven of the canceled blocks are slated for rebidding under a fresh round of auctions initiated earlier this month.

This development underscores the significance of the government's push to secure critical minerals. In June 2023, the administration identified 30 minerals deemed critical for the country's strategic and industrial needs, including lithium, graphite, molybdenum, and phosphorous, among others. The ongoing auction process aims to bolster domestic reserves of these vital resources, crucial for various industries ranging from electronics to defense.

Despite the setback, the government remains committed to its objective of strengthening the nation's mineral security. With a second round of auctions underway, efforts are underway to ensure the efficient utilization and exploration of India's vast mineral wealth in alignment with its strategic goals and economic development agenda.

Real Estate

14 May 2026

AIDO Launches Smart Hotel Lock for Hospitality Spaces

AIDO, an endorsed brand of dormakaba, has launched the AIDO Hotel Lock, designed to improve secure and seamless access management across hotels, serviced residences and institutional spaces. The solution combines smart security, operational efficiency and contemporary design to support modern hospitality requirements.The lock features integrated electronic mortise functionality, reverse lifting handle locking and compatibility with third-party property management system platforms, enabling smoother room access and check-in operations. Powered by 6V DC with four AA alkaline batteries, it offers..

Häfele Unveils Zenith Digital Lock

Häfele has introduced the Zenith Digital Lock, designed to enhance home security through smart technologies and versatile locking functions. Finished in Black and Grey, the lock blends with modern interiors while offering a refined, tech-enabled access experience.The lock features Smart Password technology for secure access and added protection against password tracing. Its Smart Voice function provides guided assistance for easy operation, while Smart Freeze temporarily disables access after multiple incorrect attempts, strengthening safety and control.The Zenith Digital Lock also offers mul..

KBL Revenue Rises 11 Per Cent in Q4 FY26

Kirloskar Brothers Limited reported consolidated revenue from operations of Rs 14.15 billion for Q4 FY26, compared to Rs 12.81 billion in Q4 FY25, registering around 11 per cent year-on-year growth. Consolidated Profit Before Tax stood at Rs 1.47 billion, against Rs 1.27 billion in the corresponding quarter last year. Profit After Tax stood at Rs 1.04 billion, compared to Rs 1.12 billion in Q4 FY25.For FY26, consolidated revenue from operations stood at Rs 45.38 billion, compared to Rs 44.92 billion in FY25. Consolidated Profit After Tax for the year was Rs 3.61 billion, against Rs 4.03 billio..