New Delhi [India], February 12 : Union Minister for Coal and Mines G. Kishan Reddy on Thursday launched the 2nd tranche of auction of Exploration Licence (EL) blocks, marking another significant step towards strengthening India's mineral exploration ecosystem, a release said.
Addressing the gathering, the Minister underscored the need to reduce India's dependence on mineral imports by accelerating domestic exploration and encouraging greater participation of the private sector alongside government agencies.
He reiterated that the Government is committed to building a structured, transparent and technology-driven exploration framework to unlock the country's untapped mineral potential.
Emphasising the strategic importance of critical minerals, Reddy stated that a robust and efficient exploration regime will play a pivotal role in achieving the vision of Viksit Bharat 2047 and enhancing self-reliance in the mineral sector.
Reddy further remarked that the Government of India is undertaking reforms across sectors in pursuit of the vision of Viksit Bharat.
"These are not mere reforms, but a reform express," he said, adding that the mining sector is also witnessing transformative changes aimed at enhancing transparency, efficiency and investment.
During the event, the Union Minister also launched the Geological Survey of India's (GSI) Next-Generation (NG) Portal a cloud-enabled platform integrating data acquisition, analysis, visualization and dissemination. Equipped with AI/ML-based tools and interoperable with the National Geoscience Data Repository (NGDR), the portal is expected to significantly enhance transparency, efficiency and data-driven decision-making in mineral exploration, as per the release.
The Launch and Roadshow of Tranche-II was graced by Piyush Goyal, Secretary, Ministry of Mines, and Sanjay Lohia, Additional Secretary, Ministry of Mines
In his address, Piyush Goyal, Secretary, Ministry of Mines, stated that Tranche-II marks a significant step towards accelerating growth in the mineral sector. Following the encouraging response to Tranche-I, the new tranche comprises 11 blocks of critical and deep-seated minerals spread across eight States.
He highlighted that the Exploration Licence regime introduced under the MMDR Amendment Act, 2023, along with the Mineral (Auction) Amendment Rules, 2023, has strengthened transparency, improved ease of doing business, and expanded opportunities for participation by both private and public sector players.
Presentations were made on "Exploration Licence Blocks under Tranche-II" by GSI; "Exploration Licence Regime and Rules" by SBICAPS; "Mineral Auction Process and Tender Document" by SBICAPS; "Mineral e-Auction Process on MSTC Portal" by MSTC; and "Scheme for Partial Reimbursement of Exploration Expenses for Holders of Exploration Licences" by NMET.
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