Govt cancels auction of 13 of 20 critical mineral blocks over tepid response

New Delhi: The Government on Friday said it has cancelled the auction for 13 of the 20 blocks put on sale in the first tranche of critical minerals as the response was lukewarm.

"The e-auction process for 13 mineral blocks was annulled vide notification dated 13 March 2024, wherein no bids were received for two blocks and less than three technically Qualified Bidders (TQB) were there for 11 blocks," the mines ministry said in a statement.

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Of the 20 blocks put on offer, 56 physical bids and 56 online bids were received for 18 blocks.

Of the 11 cancelled blocks, seven mines have been notified for auction under the third round.

The second round of auction of six blocks have been completed as per schedule.

The decision on kundol, nickel and chromium block in Gujurat will be taken by the designated officer in due course of time, as per the statement.

Earlier this month, the government launched the third tranche of auction of critical and strategic minerals.

The Centre has launched auction of 38 critical and strategic minerals to date.

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