Team Blitz India
NEW DELHI: The Mines Ministry has annulled auctions for 14 critical mineral blocks – that were put up in the second tranche – for want of requisite number of bidders, according to Businessline.
Nearly 78 per cent of the blocks put up for auction in the second tranche stand annulled.The blocks annulled cover minerals such as graphite, tungsten, cobalt & manganese (including poly metallic nodules), potash among others. A total of 18 blocks has been put on auction in round two that was announce dearlier in February this year.
Of the 14 blocks cancelled, five did not receive any bidders and nine received less than the mandatory three minimum bidders.
The auction was a part of the Narendra Modi-ruled Government’s push towards cleaner alternatives; and a step towards self- reliance in critical mineral supplies.
The five blocks that received no bidders includes the vanadium and graphite block in Arunachal Pradesh, the REE (rare earth element) block including gold and copper also located in Arunachal. Two potash blocks located in Rajasthan did not receive any bids; while the platinum group of element, chromium and nickel block at Maharashtra also did not get any bids, senior officials aware of the developments said.
“Since there were less than three (3) Technically Qualified Bidders for each of these nine mineral blocks which were put-up for e-auction, thus pursuant to Clause 8.1 (A) (f) of the Tender Document and sub rule 10 of Rule 9 of Mineral (Auction) Rules, 2015 as amended, the auction process of the following Nine(9) mineral blocks stands annulled,” the official said.
