India's First Offshore Mineral Block Auction Unveiled at Gujarat Roadshow

The Ministry of Mines held a landmark roadshow in Porbandar, Gujarat, to launch the auction process for India's first offshore mineral blocks. The event underscored significant commitments to innovation, sustainability, and investor-friendly practices, aiming to unlock India's offshore mineral potential and support economic and infrastructure development.

In a groundbreaking development, the Ministry of Mines showcased the auction process for India's inaugural Offshore Areas Mineral Blocks during a well-attended roadshow in Porbandar, Gujarat. The event brought together leading industry figures, crucial stakeholders, and government officials, highlighting a pivotal moment in the country's mining sector, according to a press release.

At the event, Joint Secretary Vivek Kr Bajpai, along with the Administering Authority from the Ministry of Mines, outlined the vision of revolutionizing mining via innovation and sustainable practices. His remarks highlighted the necessity of developing offshore mineral resources to spur economic growth and further infrastructure improvements, according to official statements.

VL Kantha Rao, Secretary of the Ministry of Mines, emphasized lime-mud mining's transformative potential, crucial for cement production and diversification of the resource base. He also underscored the government's dedication to fostering a transparent, investor-friendly auction process, which aims to stimulate economic growth, bolster infrastructure developments, and generate employment opportunities.

Gujarat's strategic role in offshore mining was underscored by Dhaval Patel, IAS Commissioner of Geology and Mines. Patting aligned Gujarat's commitment to business-friendly exploration with vast offshore mineral prospects. Additionally, SBICAPS clarified the auction process for bidders, while GSI shared insights on lime-mud deposits, and MSTC demonstrated the auction platform's transparency and efficiency.

The roadshow reflects a steadfast governmental commitment to transparency and innovation, paving the way for sustainable exploration and mutually beneficial collaborations. Complete auction details are accessible via the MSTC auction platform at https://www.mstcecommerce.com/auctionhome/mlcln/, as per the release.

(With inputs from agencies.)