PANAJI
In a major reform to unlock India’s untapped critical and deep-seated mineral resources, the Union Ministry of Mines is set to launch the nation’s first-ever auction of Exploration Licences (ELs) on Thursday in Goa.
The programme will also feature 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’.
The event will be graced by Union Minister for Coal and Mines, G Kishan Reddy, and Chief Minister Pramod Sawant.
With the enactment of the MMDR Amendment Act, 2023, Exploration Licences were introduced to allow private participation in reconnaissance and prospecting for 29 critical and deep-seated minerals, including lithium, copper, cobalt, gold, silver, REEs, and PGEs, listed in the new Seventh Schedule of the Act.
In the first phase, the Ministry will auction 13 Exploration Blocks for minerals like REE, zinc, diamond, copper, and PGE, through a transparent online bidding process.
Tender documents for Tranche I will be available on the MSTC auction platform from March 20, 2025.
This step is expected to accelerate exploration, increase private sector participation, and bolster India’s mineral security and self-reliance in critical minerals.
