The government has initiated its first-ever auction for exploration licences in Goa, marking a major step towards unlocking the country’s critical and deep-seated mineral resources.
Inauguration of the Auction
Union minister G Kishan Reddy and Goa Chief Minister Pramod Sawant officially launched the auction, which includes thirteen exploration blocks. These blocks contain vital minerals such as rare earth elements (REE), zinc, diamond, copper, and platinum group elements (PGE).
Transparent Bidding Process
The government is conducting the auction through an online bidding process to ensure transparency. This initiative aims to boost systematic exploration, attract private investment, and reduce India’s reliance on mineral imports.
Strengthening India’s Clean Energy and Industrial Goals
The ministry of mines emphasized that this reform will accelerate critical mineral discovery, enhance investor confidence, and align with India’s clean energy and industrial growth plans.
Optimism from Goa’s Leadership
Goa’s Chief Minister expressed confidence in these reforms, stating that they will unlock the state’s mineral potential while promoting responsible and technology-driven mining practices.
AI-Driven Exploration and Private-Sector Involvement
Ministry of Mines Secretary VL Kantha Rao emphasized AI-driven exploration’s importance. He also highlighted private-sector participation in unlocking India’s vast mineral reserves.
Commitment to Timely Development
As reported by projectstoday.com, the government remains committed to timely operationalization of these exploration blocks. This will help meet the growing demand for critical minerals.
