In a significant push to boost mineral exploration and attract private investment, the Ministry of Mines today organised a National Workshop and Roadshow on the recently introduced Exploration Licence (EL) regime and the upcoming Tranche-1 Auction of EL blocks. The event, held at The Ambassador Hotel in the national capital, brought together key stakeholders from government, industry, and financial sectors to deliberate on the new policy framework and technical roadmap.
The workshop aimed to disseminate detailed information on the EL regime introduced under the Mines and Minerals (Development and Regulation) Amendment Act, 2023. It provided a platform for engagement with industry players and outlined the opportunities the regime presents for unlocking India’s critical and deep-seated mineral resources.
Delivering the keynote address, Secretary, Ministry of Mines, VL Kantha Rao emphasised the transformative nature of the new policy. “This marks a shift from passive ownership of resources to active exploration, enabling private entities to invest in early-stage mineral discovery,” he said. The Secretary noted that the regime would particularly focus on minerals of strategic importance such as Lithium, Rare Earth Elements (REEs), Gold, Diamond, and Platinum Group Elements (PGEs).
Mustaq Ahmad, Director, Ministry of Mines, provided a comprehensive overview of the EL framework, highlighting its investor-friendly features that promote private participation, adoption of advanced technologies, and development of a robust mineral asset pipeline for India’s economic growth.
The Geological Survey of India (GSI) showcased a technical assessment of the EL blocks shortlisted for the first tranche of auctions. SK Basir, Deputy Director General, GSI, discussed the geological potential of these blocks spread across ten states, reinforcing their strategic importance to India’s resource security.
Lovesh Singla, Vice President, SBI Capital Markets, demystified the e-auction process by explaining the bidding methodology, eligibility norms, and tender documentation. This was followed by a demonstration of the MSTC e-auction portal by Setu D Sharma, Senior Manager, MSTC, who highlighted the portal’s secure and transparent digital infrastructure.
Addressing financial concerns, Sebabrata Das, Senior Geologist, National Mineral Exploration Trust (NMET), unveiled a support scheme that offers partial reimbursement of eligible exploration costs for EL holders. The initiative aims to lower the financial burden and encourage broader industry participation.
In his concluding remarks, Sanjay Lohiya, Additional Secretary, Ministry of Mines, reiterated the government’s commitment to creating a competitive, technology-driven, and investor-friendly ecosystem for mineral exploration. He called for stronger collaboration between public and private stakeholders to ensure the regime’s success.
