Union Minister G. Kishan Reddy Launches India’s First Critical Minerals Exploration Licence Auction in Goa.
National
In March 2025, Union Minister Gangapuram (G) Kishan Reddy, Ministry of Mines (MoM) and Ministry of Coal (MoC), launched India's first-ever auction of Exploration Licences (ELs) for 13 exploration blocks for critical minerals. The event was held in Dona Paula, Panaji, Goa, in the presence of Pramod Sawant, Chief Minister (CM) of Goa.
- For the initial phase, licenses will be auctioned for exploration of critical minerals such as Rare Earth Elements (REE), Zinc (Zn), Diamond, Copper (Cu), and Platinum Group Elements (PGE) through a transparent online bidding process.
- The event also featured a roadshow on the 5th Tranche of Critical Mineral Blocks and the launch of Artificial Intelligence (AI) Hackathon 2025, a Mineral Exploration Hackathon focused on 'Mineral Targeting Using AI'.
Main Point :- (i) The exploration access will be granted exclusively to private entities, allowing them to explore up to 1,000 square meters per licence, which will accelerate mineral exploration, boost private sector participation, and enhance India's mineral security and self-reliance in critical minerals.
(ii) ELs were introduced through the Mines and Minerals (Development and Regulation) (MMDR) Amendment Act, 2023, enabling private participation in reconnaissance and prospecting of 29 critical and deep-seated minerals, including Lithium (Li), Copper (Cu), Cobalt (Co), Gold (Au), and Silver (Ag), as listed in the new 7th Schedule of the Act.
(iii) In October 2024, the Government of India (GoI) issued an order under Section 20A of the MMDR Act, 2023, to conduct the EL auction process.
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