The government will launch the first-ever auction of exploration licences on Thursday, ahead of putting 13 blocks on sale to tap mineral resources like zinc, diamond and copper.
With the enactment of the MMDR Amendment Act, 2023, exploration licences were introduced to allow private participation in reconnaissance and prospecting for 29 critical and deep-seated minerals, including lithium, copper, cobalt, gold and silver.
The move is likely to accelerate exploration, increase private sector participation, and bolster country's mineral security and self-reliance in critical minerals, the mines ministry said in a statement.
In the first phase, the government will auction 13 blocks of minerals like zinc, diamond and copper, through an online bidding process, it said.
The auction will be launched in Goa. The programme will also feature a roadshow on the fifth tranche of critical mineral blocks and the launch of AI Hackathon 2025, a mineral exploration hackathon focused on "mineral targeting using AI".
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