Govt Cancels Auction of 11 Critical Mineral Blocks Due to Poor Response

31 Dec 2024 CW Team

The Indian government has cancelled the auction of 11 critical mineral blocks in the fourth round due to a lack of interest. Four blocks, including those for tungsten and glauconite, did not receive any bids, while the remaining seven attracted fewer than three technically qualified bidders.

This follows a trend of lukewarm responses in previous auctions, with the government having previously cancelled auctions of several critical mineral blocks due to low participation.

Critical minerals like cobalt, lithium, and rare earths are vital for green energy technologies and semiconductor production. India’s upcoming Critical Mineral Mission aims to secure these resources, with a focus on international investments, especially in countries like Australia.

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