Govt to launch first-ever auction mining exploration licences on March 13

Mining exploration is the process of searching for mineral deposits in an area.

The government will launch the first-ever auction of exploration licences on March 13, ahead of putting 13 blocks on sale to tap mineral resources like zinc, diamond and copper. The auction will be launched in Goa.

The move is likely to accelerate exploration, increase private sector participation, and bolster country's mineral security and self-reliance in critical minerals, the mines ministry said in a statement.

The exploration licences were introduced to allow private participation in reconnaissance and prospecting for 29 critical and deep-seated minerals, including lithium, copper, cobalt, gold and silver.

Mining exploration is the process of searching for mineral deposits in an area. It involves using a variety of techniques to collect data, analyze it, and form theories about the presence of minerals.

How will it work?

In the first phase, the government will auction 13 blocks of minerals like zinc, diamond and copper, through an online bidding process, the statement further said.

The programme will also feature a roadshow on the fifth tranche of critical mineral blocks and the launch of AI Hackathon 2025, a mineral exploration hackathon focused on 'mineral targeting using AI'.

Also Read | India, Argentina sign agreement for exploration of lithium, other critical minerals

With PTI  inputs