The Business Bytes
New Delhi, July 19, 2024 (TBB Bureau): The Ministry of Mines is set to host a significant event focusing on mineral exploration and critical mineral resources at Begumpet, Hyderabad, on July 20, 2024.
The occasion will be honored by Union Minister for Coal and Mines, G. Kishan Reddy, alongside the Minister of State for Coal and Mines, Satish Chandra Dubey, and the Deputy Chief Minister of Bihar, Vijay Kumar Sinha.
The centerpiece of the event is the Mineral Exploration Hackathon, which will concentrate on innovative techniques for mineral hunting. This initiative aims to elevate the practice of mineral prognostication through the use of advanced, globally recognized methodologies. Participants will engage in the interpretation and modeling of geophysical data, integrate multiple data sets, and leverage cutting-edge technologies such as Artificial Intelligence (AI) and Machine Learning (ML) to enhance mineral exploration strategies.
In addition to the hackathon, G. Kishan Reddy will launch the National District Mineral Foundation (DMF) Portal. This new centralized platform will serve as a comprehensive resource for information on District Mineral Foundations across India. The portal aims to improve accessibility to DMF data and facilitate better tracking of developments and utilization related to mineral resources.
Furthermore, the Ministry of Mines will declare the preferred bidders for Tranche II and Tranche III of the e-auction of critical and strategic minerals. This announcement is part of the ongoing efforts under Section 11D of the MMDR Act, which saw the launch of Tranche II and III on February 29, 2024.
The event will conclude with a Roadshow on Tranche IV of the e-auction of critical and strategic mineral blocks. Launched via a Notice Inviting Tender (NIT) on June 24, 2024, this roadshow is designed to boost industry engagement and familiarize potential bidders with the e-auction process administered by the Ministry of Mines.
