India Unveils First-Ever Exploration Licences Auction to Boost Mineral Security

Union Minister G Kishan Reddy launched India's inaugural auction of Exploration Licences in Goa, aiming to enhance mineral exploration and private sector participation. This initiative is part of the 5th Tranche of Critical Mineral Blocks and includes launching AI Hackathon 2025 for AI-based mineral targeting.

In a groundbreaking move towards bolstering India's mineral security, Union Minister for Coal and Mines G Kishan Reddy inaugurated the first-ever auction of Exploration Licences (ELs) in Goa on Thursday. This initiative targets the untapped critical and deep-seated mineral resources of the nation.

The launch event was conducted alongside a roadshow focusing on India's 5th Tranche of Critical Mineral Blocks and included the introduction of AI Hackathon 2025, geared towards 'Mineral Targeting using AI'. Reddy, accompanied by Goa's Chief Minister Pramod Sawant, emphasized the need to elevate mining sector activities across the country.

Minister Reddy highlighted the shift from government-dominated exploration to encouraging private sector involvement, with the government providing financial support. The move aligns with the MMDR Amendment Act, 2023, allowing private exploration of 29 key minerals. With plans to auction 13 blocks in the first phase, the approach is expected to enhance mineral exploration and ensure self-reliance in critical sectors.