India Dives into Offshore Mineral Auctions

The Indian government will auction 13 offshore mineral blocks in the Arabian and Andaman Seas, marking its first-ever sale in these areas. This initiative, set to launch on November 28, 2024, aims to explore critical minerals like polymetallic nodules to support infrastructure, manufacturing, and green energy sectors.

The Indian government is set to embark on a historic mineral auction, marking the first sale of offshore mineral blocks in the Arabian Sea and Andaman Sea. Thirteen mines will be up for grabs, featuring a mix of construction sand, lime mud, and critical polymetallic nodules essential for infrastructure and green energy development.

The Ministry of Mines has officially announced that this pioneering tranche of auctions will commence on November 28, 2024. This initiative aims to boost exploration and development of undersea mineral resources across India's offshore territories, including territorial waters, continental shelf, exclusive economic zone, and other maritime zones.

India's pursuit of these mineral blocks underscores its commitment to securing diverse mineral sources amid a global shift towards high-demand materials. With support from Coal and Mines Minister G Kishan Reddy and Minister of State Satish Chandra Dubey, the auction process aligns with recent legislative amendments designed to streamline exploration and production procedures.

(With inputs from agencies.)