India Boosts Mineral Exploration Efforts

The Geological Survey of India has increased its mineral exploration efforts, conducting 230 projects this fiscal year. The National Mineral Exploration and Development Trust approved 62 initiatives last year. The Mining Act was amended to enhance critical mineral exploration, and 34 critical mineral blocks have been auctioned.

The Geological Survey of India (GSI) has significantly escalated its efforts in the exploration of critical and strategic minerals. According to recent parliamentary reports, GSI has undertaken 230 projects in the current fiscal year, a notable increase from 195 projects in the preceding year.

Complementing these initiatives, Minister of Coal and Mines, G Kishan Reddy, informed the Rajya Sabha that the National Mineral Exploration and Development Trust (NMEDT) approved 62 exploration projects in the last fiscal, with plans for 36 more in the 2025-26 period. This strategic push is supported by legislative amendments expanding NMEDT's role in supporting mineral exploration both domestically and internationally.

The ministry has also auctioned 34 blocks of critical minerals, with seven blocks already awarded exploration licenses. These licenses include a new Exploration Licenses (EL) regime, which offers auction premium shares to holders who successfully explore the region.

(With inputs from agencies.)