Govt to launch auction of offshore mineral blocks today to unlock India’s offshore mineral potential

New Delhi : The Ministry of Mines will launch the auction of offshore mineral blocks today. The Ministry said that this marks an important step towards unlocking India’s offshore mineral potential and strengthening the country’s long-term mineral resource security.

The auction comprises two offshore mineral blocks in the Andaman Sea region, which will be offered for grant of a composite licence.

The Ministry underlined that it is expected to encourage systematic exploration, attract investment and promote the adoption of advanced technologies for offshore mineral exploration and development.

The Ministry also said that offshore mineral resources are important in the context of technological advancement, clean energy transition and resilient supply chains.