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GSI Targets Auction Readiness for Rare Earth Sites in West Bengal and Assam

New Delhi has unveiled a Rs 1,345 crore incentive for domestic magnet production to bolster mining prospects

Overview

  • GSI’s G2-level surveys are under way in Purulia and Karbi Anglong to generate auction-ready resource estimates within a year.
  • The deposits are expected to contain a basket of 14 to 17 rare earth elements, creating technical extraction and processing challenges.
  • GSI has confirmed significant vanadium resources in the lower Himalayan belt that could support energy storage and alloy applications.
  • Almost half of India’s early-stage exploration projects now focus on rare earth elements to strengthen supply for EVs, electronics and renewables.
  • The government is also advancing 20 lithium exploration projects across multiple states to cut import dependence on critical minerals.