Govt launches first exploration licence auction for critical minerals to reduce mineral imports
The auction will focus on 13 exploration licence blocks, covering critical minerals such as rare earth elements, zinc, copper, and diamond.
Govt launches first exploration licence auction for critical minerals to reduce mineral imports
In a major boost to the mining sector, the Ministry of Mines, in collaboration with the Government of Goa, has launched India’s first-ever auction of exploration licences. Union Minister for Coal and Mines G. Kishan Reddy and Goa’s Chief Minister Dr Pramod Sawant unveiled the initiative at a landmark event in Goa.
The auction will focus on 13 exploration licence blocks, covering critical minerals such as rare earth elements, zinc, copper, and diamond. This transparent, online bidding process aims to accelerate systematic exploration and reduce India’s dependence on mineral imports.
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The event also included the launch of the AI Hackathon 2025, which will focus on mineral targeting through artificial intelligence. To encourage private sector participation, three private exploration agencies were awarded certificates during the event.
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