New Delhi, March 14 -- India's first-ever auction of exploration licences, a significant reform aimed at unlocking the nation's untapped critical and deep-seated mineral resources, was held in Goa.

On Thursday, Union Minister G Kishan Reddy and Chief Minister of Goa Pramod Sawant jointly launched the auction of 13 Exploration Licence blocks, covering critical minerals such as Rare Earth Elements (REE), Zinc, Diamond, Copper, and Platinum Group Elements (PGE).

"This initiative, facilitated through a transparent online bidding process, is set to accelerate systematic mineral exploration, enhance private sector participation, and reduce import dependency," said the Ministry of Mines in a statement.

Highlighting the significance of this mo...