Critical minerals: Govt launches 1st ever exploration licence auction

'We are laying the foundation for new era in mineral exploration'

- OUR CORRESPONDENT

PANAJI: Union Coal and Mines Minister G Kishan Reddy on Thursday launched nation's first-ever auction of Exploration Licences (ELs) for critical minerals.

Reddy launched the ELs in the presence of Goa Chief Minister Pramod Sawant in Dona Paula near here, a major reform aimed to unlock India's untapped critical and deep-seated mineral resources.

The licenses are for the exploration blocks for minerals like REE (rare earth elements), zinc, diamond, copper, PGE (platinum group minerals) and others.

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.

"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.