India Unveils First Auction for Critical Mineral Exploration Licenses

India's Union Coal and Mines Minister, G Kishan Reddy, launched the nation's first auction of Exploration Licences for 13 blocks of critical minerals. The initiative aims to tap into India's untapped deep-seated mineral resources, introducing a transparent auction regime, empowering private sector involvement, and fostering technological innovation in exploration.

India marked a groundbreaking moment on Thursday as Union Coal and Mines Minister G Kishan Reddy announced the country's inaugural auction for Exploration Licences of critical minerals. This strategic move targets 13 exploration blocks, poised to unlock previously untapped mineral resources.

In the company of Goa Chief Minister Pramod Sawant at Dona Paula, Reddy underscored a key transformation in India's mining legislation. These licenses cover exploration for rare earth elements, zinc, diamond, copper, and platinum group minerals, aligning with the government's intent to elevate India to a global mineral powerhouse.

The event also featured a roadshow for the fifth tranche of Critical Mineral Blocks and the introduction of the AI Hackathon 2025, emphasizing the use of artificial intelligence in mineral targeting. These advancements aim to streamline exploration, bolster private sector participation, and pave the path for India as a leader in global mining.

(With inputs from agencies.)