🪨 Critical Minerals Exploration to Boost Economic Growth: Minister Vivek
Hyderabad, April 14:
Exploration of critical minerals will play a transformative role in strengthening the economic landscape of both the country and the state, said Minister for Labour, Employment and Mines, G. Vivek Venkatswamy. He emphasized that these minerals carry significant value in both global and domestic markets, making the sector a key driver of future industrial and economic growth.
The Minister highlighted that both the Central and State governments have undertaken several reforms to ensure transparency in the allocation of mineral resources. In Telangana, under the leadership of Chief Minister A. Revanth Reddy, a policy has been implemented to allocate all mineral blocks through a transparent auction system.
He noted that this approach has led to a substantial increase in state revenues over the past two years, while also encouraging robust participation from private bidders in mineral auctions. This growing investor interest, he said, reflects the sector’s rising potential.
Dr. Vivek Venkatswamy was speaking at a roadshow organized by the Ministry of Mines at HICC Novotel on Monday. The event focused on “Auction of Critical Mineral Blocks” and “Exploration Licence,” bringing together key stakeholders from across the sector.
Union Minister for Coal and Mines G. Kishan Reddy attended the event as the chief guest.
The Minister further stated that the Centre has recently stepped up efforts to promote critical mineral exploration—an area that had not received adequate attention in the past. Looking ahead, he expressed confidence that the sector will witness increased exploration activity, broader bidder participation, and expanded investment opportunities.
While acknowledging that China currently leads in the critical minerals domain, he подчеркed that India has vast untapped potential. By strategically harnessing these resources, he said, the country can significantly strengthen its economic prospects and reduce dependency on imports.
