Mineral Blocks Auction: Auction of 11 important mineral blocks cancelled
New Delhi|The government has cancelled the auction of 11 important mineral blocks in the fourth round due to a lukewarm response from companies. According to the notice to cancel the auction, no bids were received for four of the 11 blocks, while the remaining seven mines received fewer than three technically eligible bids.
Four blocks, including tungsten and glokonite, are located in Chhattisgarh and Arunachal Pradesh. The notice said that since no bids have been received, the auction process of four mineral blocks has been cancelled.
Even before this, the government has canceled the auction of important mineral blocks due to lack of better response. The Mines Ministry had earlier said that 24 important and strategic mineral blocks had been sold in four rounds of auctions.
Meanwhile, it is reported that India’s exports to Australia have increased by 64.4 percent year-on-year in November to reach US$ 643.7 million. Australia has a trade agreement with India. This information has been received from the data of Commerce Ministry. India’s exports to Australia have increased due to strong growth in sectors such as textiles, chemicals and agricultural products.
However, during April – November, 2024-25, exports of goods to Australia declined by 5.21 per cent year-on-year to $5.56 billion. India and Australia had implemented an interim trade agreement – the Economic Cooperation and Trade Agreement (ECTA) – on December 29, 2022. Now both the countries are in talks to broaden the scope of the agreement and make it a Comprehensive Economic Cooperation Agreement (CECA).
