In a bid to boost exploration for critical minerals, India s Ministry of Mines will directly authorize exploration projects to private agencies. Notified private exploration agencies can now bid for mineral blocks they ve explored, encouraging larger companies to engage in mining exploration. The move aims to expedite project approval and execution while attracting global junior mining firms. 17 projects, predominantly focused on critical minerals, have already been sanctioned through the National Mineral Exploration Trust.
On Wednesday, the Indian government announced that 11 mineral blocks, supported by the National Mineral Exploration Trust, have been auctioned off. Additionally, six more blocks are currently in the process of being sold. The NMET, established in 2015, aims to enhance regional and detailed mineral exploration efforts in the country.