Govt to launch 1st round of auction of minerals in offshore areas on Thursday

November 27, 2024 13:44

The government will on Thursday launch the first round of sale of mineral blocks in offshore areas with 13 mines across the Arabian Sea and Andaman Sea set to be auctioned. These mineral blocks consist of a mix of construction sand, lime mud, and polymetallic nodules.

These minerals are critical for infrastructure development, high-tech manufacturing and green energy transition.

"The Ministry of Mines will be launching the first-ever tranche of auction of mineral blocks in offshore areas of India on 28th November 2024," an official statement said.

The move assumes significance as it will lead to foray into the exploration and development of undersea mineral resources within its offshore area. Offshore areas include territorial waters, continental shelf, exclusive economic zone, and other maritime zones of the country. -- PTI

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