The Geological Survey of India, which is set to celebrate its 175th foundation day on March 4, expects to cross the targets set for exploration of 1,200 critical mineral projects under the National Critical Mineral Mission between 2024-25 and 2030-31.

“The National Critical Mineral Mission, which was announced in last year’s budget, has taken shape. GSI will spend around ₹4,000 crore over the next 6-7 years. One target for GSI is to do 1,200 critical mineral projects in this period.

“We intend to do much more. This year (FY25) we are doing 200 odd projects and next year 230 more projects are expected. We believe we will cross this number of 1,200,” said Asit Saha, director-general, Geological Survey of India.

Last month, the Union cabinet had approved the National Critical Mineral Mission with an outlay of ₹34,300 crore over 7 years comprising government expenditure of ₹16,300 crore and investment by public sector companies to the tune of ₹18,000 crore.

Saha said that GSI has already submitted 82 resource-bearing reports on strategic and critical minerals to state and central governments since the amendment of the MMDR Act in 2015. Further, 76 geological memorandums on strategic critical mineral commodities have been submitted for auctioning as composite licences.

In a major move, GSI is also going overseas for mapping and exploration. “We will be doing exploration in foreign countries also. One of our team has already visited Somaliland for an initial reconnaissance study and very soon we will be sending teams to Zambia where we will be doing mapping and exploration. Mostly our focus is on critical minerals,” said Saha.

The western part of Bengal, including districts of Purulia, Bankura and West Midnapore, is on GSI’s radar for exploration of critical minerals and there are around 14 projects which have good responses.

Offshore thrust

With the mines ministry bullish on offshore exploration for critical minerals prospects, GSI said that its marine exploration activities have led to the identification of 5,89,160 square kilometres as offshore prospective area with availability of resources such as cobalt, nickel, rare earth elements, platinum group elements and phosphorite/phosphate-potash bearing sediments.

Private participation

In a bid to step up exploration, the Union mines ministry is also relying on greater private sector participation. There are already 28 notified private exploration agencies according to the mines ministry site.

Union minister of coal and mines G Kishan Reddy on Thursday said in Delhi that as of January 31, 2025, for 146 exploration projects, the central government has sanctioned ₹712 crore from the National Mineral Exploration Trust for private organisations. “48 projects have received financial assistance of which 29 are critical mineral projects,” the minister said.