The auction of two other blocks, a tungsten mine in Maharashtra and another REE block in Karnataka, was scrapped as they failed to secure the minimum requirement of three technically qualified bidders

The government has cancelled the auction of five critical mineral blocks, including a rare earth element (REE) deposit in Karnataka, after the fifth round of bidding failed to attract sufficient interest. According to a notice from the Ministry of Mines, three blocks, two glauconite mines in Gujarat and Chhattisgarh and one nickel and platinum group element (PGE) block in Karnataka received no bids, forcing authorities to annul their sale.

In addition, the auction of two other blocks, a tungsten mine in Maharashtra and another REE block in Karnataka, was scrapped as they failed to secure the minimum requirement of three technically qualified bidders.

The setback underscores the challenge of attracting private players to India’s critical mineral sector, despite the government’s efforts to reduce import dependence on key resources that are vital for renewable energy, electronics and defence industries.