"Rajasthan and Karnataka Initiate India's First Exploration Licence Auction for Critical Minerals, Four More States to Join"

"Karnataka and Rajasthan Lead the Way as India Launches First Exploration Licence Auction for Critical Minerals; Four More States to Join Soon"

In a pioneering move, the states of Karnataka and Rajasthan have initiated auctions for exploration licences of critical and deep-seated minerals, setting a precedent for the nation. These auctions, which commenced on March 6, encompass minerals crucial for various industries, including gold, copper, and lithium, among others.

Union Minister for Mines, Pralhad Joshi, disclosed that six states are in advanced stages to follow suit. Andhra Pradesh, Chhattisgarh, Madhya Pradesh, and Maharashtra are expected to launch similar auctions in the coming days. This marks a significant milestone for India's mineral exploration landscape.

Earlier, Joshi had allocated 20 blocks for exploration across several states and union territories, demonstrating the government's commitment to fostering mineral exploration and development nationwide.

According to a Mines Ministry official, Karnataka has initiated the auction for one block each of gold, copper, and lithium, while Rajasthan has launched auctions for three blocks, including rare earth elements (REE), rare metals, and potash.

Discussion in other states, which are in advanced stages, revolve around mineral blocks such as tin, tungsten, REE, vanadium, copper, lithium, potash, platinum group of elements (PGE), diamond, and zirconium. This concerted effort reflects India's proactive approach towards harnessing its mineral resources for economic growth and industrial development.

HBL