First offshore mining auction kicks off today

Bids to be called for 13 critical mineral blocks

- NITIN KUMAR

The Ministry of Mines will launch the first auction of offshore critical mineral blocks this Thursday, marking a major milestone in India's push to tap into the blue economy. Thirteen blocks are set to go for bidding in this inaugural round.

"This first tranche includes 13 carefully selected mineral blocks spanning across the Arabian Sea and the Andaman Sea, featuring a mix of construction sand, lime mud, and polymetallic nodules," the mines ministry said.

Offshore mining involves extracting valuable mineral resources like construction-grade silica sand, lime mud, calcareous mud, precious metals, and rare earth elements from beneath the seabed or ocean flood. These resources are scattered across the Indian Ocean, the Arabian Sea, and the Bay of Bengal, which surround the Indian peninsula.