India cancels 14 out of 18 critical mineral block auctions launched in second tranche, notice shows

(Reuters) - India has cancelled the auction for 14 blocks of critical minerals launched in the second tranche of such auctions, a notice by government agency MSTC showed.

India, in February, had launched the second part of its critical minerals auction worth an estimated $362 billion, listing 18 critical mineral blocks across eight states.

The auctions are a part of Prime Minister Narendra Modi-led government's bid towards clean energy transition.

In a notice dated June 21, the ministry of mines said that the auction process for five blocks in states of Arunachal Pradesh, Maharashtra and Rajasthan was annulled as no bids were received. These blocks contained minerals such as vanadium, graphite, chromium and potash.

Separately, auction process for nine blocks, including those containing tungsten, limestone and cobalt, were annulled as bids received were fewer than the minimum requirement of three.

These blocks are spread across Chattisgarh, Karnataka, Maharashtra, Tamil Nadu and Arunachal Pradesh states.

(Reporting by Neha Arora in New Delhi, writing by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)