India has canceled the auction for 14 out of 18 blocks of critical minerals that were launched in the second tranche of such auctions, according to a notice by government agency MSTC.
In February 2023, India had launched the second part of its critical minerals auction worth an estimated $362 billion, listing 18 critical mineral blocks across eight states. This was part of the Prime Minister Narendra Modi-led government’s efforts towards a clean energy transition.
However, in a notice dated June 21, the Ministry of Mines stated that the auction process for five blocks in the states of Arunachal Pradesh, Maharashtra, and Rajasthan was annulled as no bids were received. These blocks contained minerals such as vanadium, graphite, chromium, and potash.
Separately, the auction process for nine additional blocks, including those containing tungsten, limestone, and cobalt, were also annulled as the bids received were fewer than the minimum requirement of three. These blocks were spread across Chhattisgarh, Karnataka, Maharashtra, Tamil Nadu, and Arunachal Pradesh.
The cancellation of 14 out of the 18 critical mineral auction blocks is a setback for India’s efforts to secure its supply of these essential materials, which are crucial for the country’s clean energy transition and other industrial applications.