New Delhi witnessed a pivotal moment in India’s mining sector as Union Coal and Mines Minister G. Kishan Reddy launched the second phase of exploration license block auctions on Thursday. This bold initiative aims to fortify the nation’s mineral exploration ecosystem, reducing reliance on imports and unlocking untapped potential.
The minister emphasized the urgent need to ramp up domestic exploration efforts. By encouraging greater participation from both government agencies and private players, India seeks to diminish its dependence on foreign mineral supplies. ‘We are committed to building a structured, transparent, and technology-driven exploration framework,’ Reddy stated, highlighting the strategic importance of critical minerals.
A robust exploration system will play a crucial role in achieving Viksit Bharat 2047 goals and fostering self-reliance in the mining sector. The government is implementing rapid reforms across all areas, with transformative changes enhancing transparency, efficiency, and investment in mining.
In a significant tech upgrade, Reddy inaugurated the Next-Generation (NG) Portal by the Geological Survey of India (GSI). This cloud-enabled platform integrates data acquisition, analysis, visualization, and dissemination. Equipped with AI/ML tools and interoperable with the National Geoscience Data Repository (NGDR), it promises unprecedented transparency, efficiency, and data-driven decision-making in mineral exploration.
The second phase includes 11 blocks spanning eight states, focusing on critical and deep-seated minerals. Mines Secretary Piyush Goyal, who attended the launch and roadshow alongside Additional Secretary Sanjay Lohia, called it a vital step to accelerate sector growth. Building on the enthusiastic response to the first phase, these auctions under the Mineral (Auction) Amendment Rules, 2023, and MMDR Amendment Act, 2023, promote ease of doing business and broader participation.
This move signals India’s determination to harness its mineral wealth for economic prosperity and national security, setting the stage for a self-sufficient future.