India to launch first tranche of mineral exploration license auction in March 2025
The mines ministry will launch the first tranche of exploration license auctions in March 2025, Union Minister of Coal and Mines G. Kishan Reddy said on Friday.
Addressing a press conference in New Delhi, the minister highlighted key policy reforms and initiatives aimed at bolstering India’s mining sector.He noted that the provision for granting Exploration Licenses for critical and deep-seated minerals through auction was introduced via an amendment to the Mines and Minerals (Development and Regulation) Act in 2023.
India is ramping up exploration, with the Geological Survey of India (GSI) undertaking 438 projects in 2024-25, including 195 for critical minerals, and planning 450 for 2025-26. MECL has increased drilling by 35%, while the National Mineral Exploration Trust (NMET) has approved 146 projects worth ₹712 crore. Private sector participation is expanding, with 28 Notified Private Exploration Agencies (NPEAs) and relaxed regulations for border-area exploration.
Technology-driven reforms include an AI-enabled Data Processing Centre in Bengaluru and a Mineral Exploration Hackathon. The Mining Tenement System (MTS) now features real-time price data, with additional modules on mine closures and licensing set to launch. The ₹16,300 crore National Critical Mineral Mission will boost domestic production, recycling, and overseas acquisitions, while a new Tailings Policy aims to recover minerals from waste.
Since 2024, 335 mineral blocks have been auctioned, with 106 successfully allocated, including first-time auctions in Telangana, Bihar, and Arunachal Pradesh. To streamline projects, a dedicated Project Management Unit (PMU) has been established. A State Mining Index, evaluating states on regulatory and sustainability parameters, will be introduced in 2025.
The Geological Survey of India will celebrate its 175th anniversary from March 2025 to March 2026 with a series of international and national seminars, outreach programs, and cultural events.
