The Ministry of Mines, in collaboration with the Goa government on Thursday launched India’s first-ever Exploration Licence (EL) auction, marking a significant step toward unlocking the country’s critical and deep-seated mineral reserves.
Union Coal and Mines Minister G. Kishan Reddy and Goa Chief Minister Pramod Sawant jointly presided over the event, which also featured a “Roadshow” for the fifth tranche of critical mineral block auctions. Additionally, they inaugurated the AI Hackathon 2025, themed “Mineral Targeting using Artificial Intelligence,” aimed at utilizing advanced datasets to identify hidden mineral deposits and promote innovation in sustainable mining practices.
Speaking at the event, Union Minister G. Kishan Reddy emphasized the significance of the initiative, stating, “For the first time, India is opening up systematic early-stage exploration through a structured and transparent auction process. This reform will accelerate the discovery of critical and deep-seated minerals, boost investor confidence, and pave the way for a self-reliant, future-ready mineral ecosystem aligned with India’s clean energy and industrial ambitions.”
The discussions at the event covered several key topics, including strategies for auctioning untapped mining blocks in Goa, plans to revive dormant mines, and solutions for managing expired and lapsed leases in compliance with Section 10A(2) of the Mines and Minerals (Development and Regulation) Act, 1957.
Goa Chief Minister Pramod Sawant lauded the Union government’s reform initiatives, stating, “Goa has a rich mining legacy, and we are committed to responsible, technology-driven mineral development. These reforms will not only unlock India’s mineral potential but also create new opportunities for sustainable mining.”
Updates were provided on the progress of operationalizing auctioned mining blocks and ongoing exploration projects, with special emphasis on the contributions of organizations such as the Geological Survey of India and Mineral Exploration and Consultancy Ltd. Chief Minister Sawant also highlighted the economic impact of reviving mining operations in Goa, emphasizing their role in strengthening the state’s economy and contributing to the Gross State Domestic Product.
He further acknowledged the Union government and Prime Minister Narendra Modi for their steadfast support in advancing these initiatives.
The event concluded with the auction of 13 exploration license blocks, covering critical minerals such as Rare Earth Elements (REEs), zinc, diamonds, copper, and Platinum Group Elements. The transparent bidding process aims to accelerate mineral exploration, encourage private sector participation, and enhance India’s technological and energy independence.
–IANS
