Mines ministry to launch first auction of exploration licences Thu in Goa
This story was originally published at 17:11 IST on 12 March 2025
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NEW DELHI – The mines ministry will launch the country's first-ever auction of exploration licences Thursday in Goa, according to a press release from the ministry. Exploration licences were introduced when the Mines and Minerals (Development and Regulation) Act, 1957, was amended in 2023 by Parliament.
Through these exploration licences, the government planned to open up the reconnaissance and prospecting of 29 deep-seated minerals such as lithium, copper, cobalt, rare earth elements, gold, silver, and platinum group elements.
In the first phase, the mines ministry will action 13 exploration blocks for rare earth elements, zinc, diamond, copper, and platinum group elements. The bidding process will be online and tender documents for Tranche 1 will be available on the MSTC auction platform from Mar. 20. End
Reported by Rajesh Gajra
Edited by Rajeev Pai
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