Govt launches first-ever exploration licence auction for critical minerals

The programme also featured a roadshow on the 5th Tranche of Critical Mineral Blocks and the launch of AI Hackathon 2025, a Mineral Exploration Hackathon focused on “Mineral Targeting using AI” (Artificial Intelligence).

Addressing the gathering, Union minister Reddy said that in the last 10 years, India's mining sector has achieved many milestones and emerged as one of the fastest and most dynamic sectors of the country.

Today marks another milestone in the industry, he said, as per PTI.

"We are laying the foundation for new era in mineral exploration," he said adding that the era is faster, more technologically-driven and globally competitive.

"We have established ourselves as a serious player in the global mineral landscape, it has also opened flood gates of opportunities for the private sector," he said.

Reddy said even greater milestones will be achieved in the coming years and it will pave the way for the rise of India as a global leader.

"Today we are launching 13 blocks for various critical and deep-seated minerals," the minister said.

This new framework will encourage transparency, efficiency, innovation, ensuring that only the most promising areas remain for a detailed exploration, he further added.

"In the first 10 years (of Narendra Modi government), we increased the exploration activities manifold. The biggest reform is the introduction of a transparent auction regime and the involvement of private sector," Reddy said.

The minister said India's legal framework for mining exploration was limited until now.

"There was a crucial gap. There was no structural mechanism for the private companies. Recognising this, the Government of India introduced amendment to the MMDR Act in 2023. This is a reform that will open doors for a systematic exploration of minerals," he said.

Addressing the gathering, CM Sawant thanked the Union Mines Ministry for choosing Goa for the roadshow and the launch of the ELs.

Sawant said mining has always been integral part of the economy, contributing significantly for employment, industrial growth and development.

"As we stand at the cusp of a new era of mineral exploration, this initiative reflects the government's firm commitment in self-reliance in critical minerals," he said.

"These minerals are an integral part of our electronic industry, green industry and others," Sawant said, adding that a lot of countries are yet to explore for the mineral availabilities.

The chief minister said there is a need to increase the pace of exploration in the country.

The amendment in the Mines and Minerals (Development and Regulation) (MMDR) Act is a bold step which will help to tap the untapped mineral wealth of the country, he said.

Goa will immensely benefit from such an initiative, the CM said.

As India moves for a green energy future, securing the supplies of critical minerals will play a key role, he said.

Referring to the Hackathon 2025, Sawant said that Goa, with its mining legacy, stands to benefit from such technology advancement.

Mines Secretary V L Kantha Rao said this is a big event for the Union Ministry of Mines.

"Today there are 4-5 important initiatives that are showcased here, including critical mineral auction. Some of the critical minerals which are 100 per cent imported currently are part of the auction," he said.

These blocks, once they are auctioned and mined, will ensure self-reliance for minerals in India, the official said.

"This is a very important event in our journey towards Atmanirbharta," he added.

Kantha Rao said the way in foreign countries people go and do exploration on their own, the same concept is introduced here.

"A private company will do the exploration and if they find the deep-seated or critical mineral, then they will get an income for 50 years," he said.

"If nothing found in the exploration, 50 per cent of the risk is borne by the Government of India," he added.

With PTI inputs