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Ministry launches offshore mineral blocks for auction
ECONOMY & POLICY

Ministry launches offshore mineral blocks for auction

The Union Ministry of Mines launched India’s first-ever auction of 13 offshore mineral blocks, marking the country’s entry into the exploration and development of undersea mineral resources. Union Minister of Mines G Kishan Reddy highlighted the significance of the initiative for India’s ...

The Union Ministry of Mines launched India’s first-ever auction of 13 offshore mineral blocks, marking the country’s entry into the exploration and development of undersea mineral resources. Union Minister of Mines G Kishan Reddy highlighted the significance of the initiative for India’s blue economy and its progress toward self-reliance. The 13 blocks, located within India’s Exclusive Economic Zone, include a variety of minerals such as construction sand, lime mud, and polymetallic nodules. The auction’s first tranche will include seven polymetallic nodule blocks, three construction sand blocks, and three lime mud blocks. 

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