The aim is to reach at least the G2 level of exploration before putting the Salal-Haimna Lithium, Titanium, and Bauxite (Aluminous Laterite) Block up for auction again.
The previous auction, which opened on November 29, 2023, at the G3 level of exploration, failed to attract the minimum three bidders required to proceed to the financial bidding round. Even a second attempt, where a single bidder could have been awarded the block, saw no success.
Industry players have shown reluctance to participate due to insufficient exploration data. The ministry now plans to complete the re-exploration within six months, hoping this time to generate more interest.
This story is from the October 18, 2024 edition of Business Standard.
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This story is from the October 18, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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