Synopsis
The Ministry of Mines and Goa government launched India's first Exploration Licence auction and the AI Hackathon 2025, aimed at transforming mineral exploration and sustainable mining practices.Key Takeaways
- Launch of India's first Exploration Licence auction.
- AI Hackathon 2025 focuses on mineral targeting.
- Strategies to manage untapped mining blocks discussed.
- Emphasis on sustainable mining and technology-driven development.
- Potential economic benefits for Goa highlighted.
New Delhi, March 14 (NationPress) The Ministry of Mines, in collaboration with the Goa government, has officially inaugurated India's first-ever Exploration Licence (EL) auction, marking a significant initiative to unlock vital and deeply buried mineral resources throughout the nation.
Union Coal and Mines Minister G. Kishan Reddy and Goa's Chief Minister Pramod Sawant shared the stage to highlight the event, which also featured a Roadshow for the fifth tranche of critical mineral blocks auction and the launch of the AI Hackathon 2025 themed "Mineral Targeting using Artificial Intelligence".
The AI Hackathon 2025 is designed to utilize advanced datasets to uncover concealed mineral deposits and foster innovation in sustainable mining techniques.
Chaired by G. Kishan Reddy, the session convened key officials from both state and central levels to discuss a range of pertinent issues.
Emphasizing the importance of this initiative, Union Minister Kishan Reddy stated, "For the first time, India is initiating systematic early-stage exploration through a well-organized and transparent auction framework. This reform will expedite the identification of critical and deep-seated minerals, enhance investor confidence, and lay the groundwork for a self-reliant, future-ready mineral ecosystem in line with India's clean energy and industrial goals."
The discussions covered vital subjects such as strategies for auctioning untapped mining blocks in Goa, plans for revitalizing inactive mines, and managing expired leases in accordance with Section 10A(2) of the Mines and Minerals (Development and Regulation) Act, 1957.
CM Sawant praised the Union government's transformative measures, asserting, "Goa possesses a rich mining heritage, and we are dedicated to responsible, technology-driven mineral development. These reforms will not only unleash India's mineral potential but also generate new opportunities for sustainable mining."
Updates on the progress of operationalizing auctioned mining blocks and ongoing exploration endeavors were shared, with a focus on the contributions of organizations like the Geological Survey of India and Mineral Exploration and Consultancy Ltd.
The Chief Minister emphasized the economic benefits of revitalizing mining activities in Goa, underlining their significance in strengthening the state's economy and contributing to the Gross State Domestic Product.
CM Sawant commended the Union government and Prime Minister Narendra Modi for their unwavering support in these efforts.
The event concluded with the auction of 13 exploration license blocks covering essential minerals like Rare Earth Elements (REEs), zinc, diamonds, copper, and Platinum Group Elements. The transparent bidding process is poised to advance mineral exploration, enhance private sector participation, and augment India's technological and energy independence.
