India Launches Second Round of Critical Mineral Exploration Licence Auctions
Coal and mines minister G Kishan Reddy officially launched the second round of auctions for exploration licences on Thursday. This initiative covers 11 blocks of critical and deep-seated minerals spread across eight states, marking a significant step in India's mineral exploration strategy.
Expanding Mineral Exploration Across States
The newly auctioned licences will permit exploration of rare earth minerals in Telangana, Rajasthan, and Odisha. Additionally, blocks in other states will focus on minerals such as diamond, vanadium, titanium, and other valuable resources. This diverse geographic spread aims to tap into untapped mineral potential nationwide.
Building on Previous Success and Enhancing Private Participation
Minister Reddy highlighted that this second tranche builds upon the strong response received during the first round of auctions. It is designed to deepen private sector involvement under the new exploration regime, encouraging technologically advanced exploration practices. This move is expected to accelerate mineral discovery and development, fostering innovation in the mining sector.
Launch of Next-Generation Geological Portal
Alongside the auction launch, Reddy introduced the Geological Survey of India's Next-Generation Portal. This cloud-enabled platform integrates data acquisition, analysis, visualisation, and dissemination, providing a comprehensive tool for stakeholders. The portal aims to streamline exploration processes and improve data accessibility, supporting more efficient mineral resource management.
Strategic Focus on Mineral Self-Reliance and Supply Chains
As global competition for critical minerals intensifies, Reddy emphasised the importance of resilient supply chains for strategic security. He underscored India's push to reduce import dependence and achieve mineral self-reliance, aligning with the 'Viksit Bharat' vision. The minister reiterated that mining sector reforms are crucial for building a robust exploration ecosystem.
Government Initiatives and Future Directions
Reddy also referenced the expanded scope of the National Mineral Exploration and Development Trust and a 'whole-of-government' approach. This strategy focuses on strengthening exploration, data integration, data-driven decision-making, and systematic identification of mineral prospects. These efforts are part of broader reforms aimed at enhancing India's mineral security and economic growth.
The launch event underscores India's commitment to leveraging its mineral resources through modern technology and policy frameworks, positioning the country as a key player in the global minerals market.
