No bidders for rare earth, tungsten, nickel-platinum group mineral blocks
India just canceled the auction of five important mineral blocks because almost no one wanted to bid.
These included a rare earth element (REE) block in Karnataka, a tungsten mine in Maharashtra, glauconite mines in Gujarat and Chhattisgarh, and a nickel-platinum group block—key resources for tech and clean energy.
Some blocks got zero bids; others didn't even meet the minimum number of qualified bidders.
Auctions aim to reduce India's dependence on imports
These auctions are supposed to help India rely less on importing minerals like lithium, copper, and cobalt—stuff that powers everything from smartphones to electric cars.
While 34 out of 55 blocks have found takers across five auction rounds (with big names like Coal India and Vedanta jumping in), this latest setback shows it's not always easy to secure local supplies for future tech needs.