India Cancels Auction of Nine Critical Mineral Blocks Due to Lack of Bidders
The Indian government has cancelled the auction of nine critical mineral blocks from the seventh round due to insufficient investor interest. This cancellation impacts the country’s efforts to enhance domestic production of essential minerals for energy security and advanced manufacturing.
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The auction for nine critical mineral blocks has been cancelled by the Indian government due to a lack of qualified bidders. This decision affects blocks located in Madhya Pradesh, Rajasthan, Bihar, Chhattisgarh, and Odisha, and continues a trend of previous cancellations, including 11 blocks in the sixth round and others in earlier rounds.
The government's inability to attract private investment reflects ongoing challenges in the mining sector, such as high costs and regulatory uncertainties. The seventh round, initiated on March 23, aimed to widen exploration for minerals critical to clean technology but now raises concerns about future domestic resource development.
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