Eleven blocks failed to attract the required minimum of three technically qualified bidders necessary to proceed with the auction process.
The success rate improved marginally after the Ministry of Mines conducted a second round of bidding for two blocks that initially drew fewer than three technically qualified bidders. While the first round mandates at least three qualified bidders to advance to the financial bids stage, the second round permits progress with just one. The two blocks were successfully auctioned in the second round, lifting the total number of auctioned blocks to 10.
This story is from the December 30, 2024 edition of Business Standard.
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This story is from the December 30, 2024 edition of Business Standard.
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