Mumbai, March 17 -- In a historic move, the Ministry of Mines, in collaboration with the Government of Goa, has launched India's first-ever auction of Exploration Licences (ELs). The landmark event, graced by Union Minister for Coal & Mines, Shri G. Kishan Reddy, and Chief Minister of Goa, Dr. Pramod Sawant, marks a significant reform in India's mineral exploration sector, aimed at unlocking critical and deep-seated mineral resources.
Alongside this, the 5th Tranche of Auction of Critical Mineral Blocks was inaugurated, along with the launch of AI Hackathon 2025, focused on 'Mineral Targeting using AI'.
13 Exploration Licence Blocks were put up for auction, covering critical minerals such as:
Rare Earth Elements (REE) Zinc Diamond Copper Platinum Group Elements (PGE)
This transparent online bidding process is designed to: Accelerate systematic mineral exploration Enhance private sector participation Reduce import dependency
Union Minister Shri G. Kishan Reddy: "For the first time, India is introducing a structured and transparent auction process for early-stage exploration. This reform will boost investor confidence, accelerate critical mineral discoveries, and pave the way for a self-reliant mineral ecosystem aligned with India's clean energy and industrial ambitions."
Goa CM Dr. Pramod Sawant: "Goa has a rich mining legacy, and we are committed to responsible, technology-driven mineral development. These reforms will unlock India's mineral potential while ensuring sustainable mining practices."
Published by HT Digital Content Services with permission from Construction World.