He also said that Assam, Jammu & Kashmir and Kerala will also join the mineral auction regime soon, expanding the mineral auction map of India to 17 states.
The Ministry of Mines will launch the 1st Tranche auction of Exploration License blocks in March 2025, said Union Minister of Coal and Mines G Kishan Reddy said on Thursday.
While addressing a press conference, Minister Reddy informed that the provision of grant of Exploration License for critical and deep-seated minerals through auction was made through an amendment in the MMDR Act in 2023.
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He also said that Assam, Jammu & Kashmir and Kerala will also join the mineral auction regime soon, expanding the mineral auction map of India to 17 states.
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Minister highlighted several key achievements and upcoming initiatives aimed at strengthening the mining ecosystem in the country.
He informed that the Geological Survey of India (GSI) undertook 438 exploration projects in field season 2024-25, including 195 critical mineral projects, a significant increase from 360 projects of the previous field season, 2023-24.
Further, exploratory drilling by Mineral Exploration Corporation Limited (MECL) has also increased by 35%, significantly enhancing operational efficiency.
Notably, the Geological Survey of India is setting up an AI-enabled Data Processing Centre in Bengaluru to enhance mineral targeting through AI/ML.
The National Critical Mineral Mission (NCMM) was approved with an expenditure of ₹16,300 crore and an expected investment of ₹18,000 crore, focusing on areas including domestic production, recycling, overseas acquisitions, and R&D.
Since 2024, 335 mineral blocks have been put up for auction, with 106 successfully auctioned.
First-time auctions were conducted in Telangana, Bihar, and Arunachal Pradesh, expanding India’s mineral auction landscape to 14 states. Assam has also notified blocks for auction, with Jammu & Kashmir and Kerala expected to join soon.
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