As reported to the Parliament on Monday, the Geological Survey of India (GSI) informed that it is pushing its efforts in exploring essential and strategic minerals. This will include the launch of 230 projects in the current fiscal year, up from 195 last year.
As a reply to the question raised in the Rajya Sabha, G. Kishan Reddy, the Coal and Mines Minister of India, shed light on the initiative that the National Mineral Exploration and Development Trust (NMEDT) have affirmed to 62 exploration projects in the last financial year, along with 36 more planned for 2025 and 2026.
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In the same reply, the minister further states that, for strengthening the critical mineral sector, several different initiatives have been undertaken and rolled out. These initiatives include amending the Mining Act and further expanding the scope of the National Mineral Exploration and Development Trust (NMEDT) for supporting critical mineral exploration and mining efforts overseas.
As announced by the minister, the GSI will enhance its efforts to explore essential and strategic minerals. In 2024 to 2025, the GSI carried out 195 critical mineral exploration projects, and in 2025 to 2026, the count came up to 230 projects. In the same announcement, the minister stated that the Mines Ministry has auctioned 34 critical minerals blocks.
On the other hand, seven exploration license blocks have been auctioned off by the ministry successfully, among which three are critical minerals. It further highlighted that the Exploration Licences (EL) regime has been launched for the deep-seated and critical minerals, where a portion of the auction premium will go to the EL holder who is in charge of the exploration.
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