India's First Exploration Licence Auction and AI-Driven Mineral Targeting Hackathon

Tags: National News

Why in the news?

• Ministry of Mines, in collaboration with the Government of Goa, organized a landmark event graced by Union Minister for Coal and Mines, Shri G. Kishan Reddy, and Chief Minister of Goa, Dr. Pramod Sawant. 

Important points:

• This event marked the launch of India's first-ever auction of Exploration Licences (ELs), a significant reform aimed at unlocking the nation's untapped critical and deep-seated mineral resources.
• The program also featured a Roadshow on the 5th Tranche of Auction of Critical Mineral Blocks and the inauguration of AI Hackathon 2025, focusing on 'Mineral Targeting using AI'.
• Union Minister Shri G. Kishan Reddy and Chief Minister of Goa Dr. Pramod Sawant jointly launched the auction of 13 Exploration Licence blocks, covering critical minerals such as Rare Earth Elements (REE), Zinc, Diamond, Copper, and Platinum Group Elements (PGE).
• This initiative, facilitated through a transparent online bidding process, is set to accelerate systematic mineral exploration, enhance private sector participation, and reduce import dependency.
• This reform will accelerate the discovery of critical and deep-seated minerals, boost investor confidence, and pave the way for a self-reliant, future-ready mineral ecosystem aligned with India’s clean energy and industrial ambitions."
• As part of the event, the Hackathon on "Mineral Targeting using Artificial Intelligence" was inaugurated by Union Minister Shri G. Kishan Reddy and Chief Minister Dr. Pramod Sawant. 
• The initiative aims to leverage AI-driven techniques and geoscience data to identify new mineral-rich zones, particularly concealed and deep-seated deposits.
•