Government Halts Critical Mineral Block Auctions Amid Insufficient Interest

The government has canceled the auction of five critical mineral blocks, including rare earth elements, due to insufficient bids. Of the 15 blocks offered in the fifth auction round, only 10 were sold. This is part of the effort to make India self-reliant on critical mineral resources.

The government's plan to auction five critical mineral blocks, including a rare earth element site in Karnataka, has been stalled due to a lack of interest.

With zero bids placed for two glauconite mines in Gujarat, Chhattisgarh, and a Nickel and PGE block in Karnataka, the auction was suspended, the mines ministry announced.

Furthermore, the planned sale of a tungsten mine in Maharashtra and another REE block in Karnataka was also scrapped, prompting an assessment of the auctioning process.

(With inputs from agencies.)