Goa's Groundbreaking: India's First Mineral Auction Takes Off

India has initiated its first-ever auction for exploration licences in Goa, marking a major step toward unlocking critical and deep-seated mineral resources.

Union Minister G. Kishan Reddy and Goa Chief Minister Pramod Sawant inaugurated the auction, which features 13 exploration blocks containing key minerals such as rare earth elements (REE), zinc, diamond, copper, and platinum group elements (PGE).

Conducted through a transparent online bidding process, the auction aims to promote systematic exploration, attract private-sector investment, and reduce reliance on mineral imports. The Ministry of Mines emphasized that this reform will accelerate mineral discovery, boost investor confidence, and align with India's clean energy and industrial objectives.

Chief Minister Pramod Sawant expressed optimism that these reforms will unlock Goa’s mineral potential while fostering responsible, technology-driven mining. Ministry of Mines Secretary VL Kantha Rao highlighted the role of AI-driven exploration and private-sector involvement in advancing India's mineral self-sufficiency.

The government is committed to ensuring the timely operationalization of these blocks to meet the growing demand for critical minerals.

News by Rahul Yelligetti.