Critical Mineral Roadshow and Exploration Hackathon to Kick Off in Hyderabad
The Ministry of Mines is set to host the Mineral Exploration Hackathon and Critical Mineral Roadshow at Begumpet, Hyderabad, on Saturday, July 20. The event is aimed at advancing mineral exploration through the use of cutting-edge techniques and technologies.
Participants in the hackathon will focus on interpreting and modeling geophysical data, integrating various data sets, and applying emerging technologies such as artificial intelligence (AI) and machine learning (ML) to enhance mineral prognostication.
Union Minister of Coal and Mines G. Kishan Reddy will inaugurate the National District Mineral Foundation (DMF) Portal during the event. This centralized platform will aggregate information on district mineral foundations across India, offering easier access to DMF data and tracking sector developments.
Additionally, Minister Reddy will announce the preferred bidders for the tranche II and III blocks from the e-auction of critical and strategic minerals, which was launched on February 29. The event will also feature a roadshow for tranche IV of the e-auction, which was introduced via a notice dated June 24, 2024. The roadshow aims to increase industry engagement and familiarize potential bidders with the e-auction process.
Critical minerals, including lithium, chromium, nickel, graphite, cobalt, titanium, and rare earth elements, are crucial for industries such as electronics, electric vehicles, renewable energy, defense, and high-tech telecommunications. Currently, the extraction and supply of these minerals are predominantly controlled by a few countries, notably China, which poses a risk to the global supply chain due to geopolitical uncertainties.
To mitigate this dependency and develop alternative supply chains, the Indian government has accelerated efforts to explore and auction critical mineral blocks. Over the past two years, more than 100 critical mineral blocks have been lined up for auction to mining companies. This initiative is part of a broader strategy to reduce reliance on China and enhance India’s role in the global mineral supply chain.
Earlier this year, an international summit held in Delhi showcased fiscal and non-fiscal incentives to attract foreign investment in this burgeoning sector, underscoring India's commitment to becoming a key player in the critical minerals market.
