Govt cancels auction of 11 critical mineral blocks due to poor response

Quick Summary:

While no bids were received for four blocks, the remaining seven mines got less than three technically qualified bidders, according to the annulment notice.

"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.

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Article Details

Category: BusinessFinance

Markets: IndiaAustralia

Topics: Minerals Critical mineral auction Chhattisgarh Arunachal Pradesh Bidders Govt auction

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-29 @ 11:53:28 (5 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 544 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24720906

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