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State Govts issue NITs for grant of exploration licences in critical mineral reserves

15 Mar 2024 Evaluate

With an aim to unlock the potential of critical and deep-seated minerals, State Governments of Karnataka, Rajasthan, Maharashtra, Madhya Pradesh, Andhra Pradesh and Chhattisgarh have issued Notice Inviting Tenders (NIT) for the auction of Exploration Licence (EL). The State Governments of Karnataka and Rajasthan were the first States to notify the auction of Exploration License for critical and deep seated minerals on March 6, 2024, followed by Maharashtra announcing its NIT for two EL blocks on March 7, 2024, then Madhya Pradesh and Andhra Pradesh with two and one EL blocks respectively on March 11, 2024, and Chhattisgarh with three EL blocks on March 13, 2024.

Karnataka launched auction of one block of Gold, Copper and Lithium in Raichur & Yadgir districts and Rajasthan launched auction of three blocks of Rare Earth Elements, Rare Metal and Potash minerals in Barmer, Jodhpur, Hanumangarh, Churu, Bikaner, Sri Ganganagar, Jaipur, Nagaur and Sikar districts.

In order to expedite the launch of NIT for auction of Exploration Licence, State Governments worked tirelessly to prepare the blocks for auction and Central Government provided the necessary prior approval for auction. To further support and hand hold the State Governments, the model tender document for auction for grant of Exploration Licence was provided by Ministry of Mines on March 01, 2024.


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