Mines ministry to launch auction of offshore mineral blocks in Andaman Sea
This story was originally published at 20:53 IST on 30 September 2026
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NEW DELHI – The Ministry of Mines will launch the auction of offshore mineral blocks in the Andaman Sea region on Thursday, according to a press release. The auction comprises two offshore mineral blocks in the Andaman Sea region, which will be offered for grant of a composite licence, the ministry said.
The auction is expected to encourage systematic exploration, attract investment and promote the adoption of advanced technologies for offshore mineral exploration and development, according to the press release. The auction is being conducted under the provisions of the Offshore Areas Mineral (Development and Regulation) Act, 2002 and the Offshore Areas Mineral (Auction) Rules, 2024, the ministry said. Through the auction, the ministry expects to facilitate greater private sector participation and technological innovation with significant potential for meeting future industrial and strategic requirements.
"Offshore mineral resources are important in the context of technological advancement, clean energy transition and resilient supply chains. Minerals such as cobalt, nickel, manganese, copper and rare earth elements are important inputs for electric mobility, renewable energy systems, advanced electronics and strategic industries. Development of domestic offshore mineral resources can therefore contribute to India's objectives of self-reliance, resource security and sustainable economic growth," the ministry said. End
Reported by Astha Oriel
Edited by Avishek Dutta
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