Critical mineral exploration license auction launched

• Union Coal and Mines Minister G. Kishan Reddy launched India’s first-ever auction of exploration licences (ELs) for 13 exploration blocks for critical minerals.
• The licenses are for exploration blocks for minerals like REE, zinc, diamond, copper, PGE, etc.
• The reform aims to unlock India’s untapped critical and deep-seated mineral resources.
• Reddy emphasized India’s mining sector’s milestones and its role as a global player.
• The exclusive exploration access would empower private companies to explore up to 1,000 square metres per licence.
• The new framework encourages transparency, efficiency, and innovation, ensuring only the most promising areas remain for detailed exploration.