Mining majors skip auctions
Business Standard|June 25, 2024
The maiden, critical mineral auction in India has failed to enthuse the mining industry, with the first tranche achieving less than a 50 per cent success rate and the auction of several mines was cancelled owing to low response.
NITIN KUMAR
Mining majors skip auctions

The results, announced by the Ministry of Mines on Monday, showed that six lesser-known companies emerged as preferred bidders. Among these were Agrasen Sponge, Kundan Gold Mines, Dalmia Bharat Refractories, Sagar Stone Industries, and Maiki South Mining.

Union Minister for Coal and Mines G Kishan Reddy announced the results and launched the fourth round of auction of critical and strategic minerals in which 21 blocks have been put on sale. "This round of auction is a step towards self-sufficiency in the critical minerals sector," Reddy said during the launch event in New Delhi.

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