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The government has cancelled the auction of nine critical and strategic mineral blocks, citing poor investor response and lack of qualified bidders. These blocks were put on the block in the seventh round of sale. The development comes as a setback to the government's efforts to ramp up domestic exploration and production of critical minerals that are central to the country's push for energy security, clean-tech manufacturing and cutting down dependence on imports. It also reflects the challenge of drawing private investment into riskier mineral assets, where technical complexities, higher capital costs and regulatory uncertainties tend to dampen bidding interest. The government had cancelled several critical and strategic mineral block auctions in the previous rounds as well -- 11 blocks in the sixth round, five in the fifth, 11 in the fourth, three in the third, 14 in the second and 13 in the first tranche. "Since there were nil bids... the auction process for... two mineral bloc
Rare earth magnets shortage issue has had no impact on production of Tata Motors and JLR's electric vehicles and is unlikely to affect in the foreseeable future, although there are a few challenges in the coming quarters, Tata Motors Group CFO P B Balaji said on Friday. In an earnings call, he said teams are working to sort out the problem and the company is continuing to de-risk itself, and is confident of de-risking itself completely. "Absolutely no impact on production so far, as far as rare earth are concerned, nothing in the foreseeable future," Balaji asserted when asked if the company adjusted production due to the shortage of rare earth magnets. He further said, "The semiconductor crisis has given us enough learnings and abilities to actually manage challenges of this sort. So at this point in time, we do not see stress in the domestic business as well as JLR and a lot of interventions put in place to ensure that we keep this pace." While the company also does not see any .