The Ministry of Mines is set to launch the nation's first-ever auction of Exploration Licences (ELs) in Goa on March 13, the Ministry of Mines said on Wednesday.The ministry said that the move is a major reform to unlock India's untapped critical and deep-seated mineral resources.

The Ministry of Mines on Thursday launched the first tranche of auctions under the exploration license (EL) regime, five months after amending regulations to take charge of EL auctions due to delays by state governments,

India opens mineral and rare earth elements exploration to the private sector with 13 acreages up for auction, aiming to unlock untapped resources. The new policy encourages private investment, offering incentives like cost reimbursements and long-term mining leases.