The Ministry of Mines is set to begin the auction of offshore mineral blocks today, marking a significant move towards exploring India’s offshore mineral resources and strengthening long term mineral security.
The auction includes two offshore mineral blocks in the Andaman Sea region, which will be offered for the grant of composite licences.
The initiative is expected to support systematic exploration, attract investment and encourage the use of advanced technologies for offshore mineral exploration and development.
The Ministry highlighted the importance of offshore mineral resources in supporting technological progress, the transition towards clean energy and the development of resilient supply chains.