Central govt launches first-ever exploration licence auction for critical minerals
THE JHARKHAND STORY DESK Panaji, March 13: Union Coal and Mines Minister G Kishan Reddy on Thursday launched India’s first-ever auction…
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THE JHARKHAND STORY DESK
Panaji, March 13: Union Coal and Mines Minister G Kishan Reddy on Thursday launched India’s first-ever auction of Exploration Licences (ELs) for 13 critical mineral blocks, marking a significant step toward unlocking the country’s untapped mineral resources.
Exploration across multiple states including Jharkhand
The 13 exploration blocks include minerals such as rare earth elements (REE), zinc, diamond, copper, and platinum group minerals (PGE).
These blocks span multiple states, including Andhra Pradesh, Gujarat, Jharkhand, Maharashtra, Uttar Pradesh, Chhattisgarh, Rajasthan, and Karnataka.
The new framework grants private companies exclusive exploration rights, allowing them to explore up to 1,000 square meters per licence while ensuring transparency, efficiency, and innovation in the process.
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The launch event, held in Dona Paula, Goa, in the presence of Chief Minister Pramod Sawant, also featured a roadshow on the 5th Tranche of Critical Mineral Blocks and the unveiling of AI Hackathon 2025, focused on mineral targeting using artificial intelligence.
Major reforms and policy changes
Reddy emphasized that this initiative lays the foundation for a new era in mineral exploration—one that is faster, technology-driven, and globally competitive.
He noted that India’s mining sector has undergone transformative changes over the past decade, positioning the country as a key player in the global mineral landscape while creating new opportunities for private investment.
Highlighting the government’s commitment to mining sector reforms, Reddy recalled the introduction of a transparent auction regime and increased private sector participation over the past decade.
He pointed out that the legal framework for exploration was previously limited, lacking structured mechanisms for private companies. However, the 2023 amendment to the MMDR Act has now paved the way for systematic exploration, filling a crucial gap in India’s mineral policy and setting the stage for even greater achievements in the coming years.
