Indian Cos Tap Royal IHC for Offshore Mining Push

Bidding for the first tranche of the auction for 13 blocks is expected to conclude by the end of March

- Reuters

NEW DELHI: Some Indian mining and cement companies have approached Dutch shipbuilder Royal IHC for technical assistance as they prepare to bid for deep-sea mineral blocks up for auction, two people with direct knowledge of the development said.

In November, India launched the first tranche of auction for 13 offshore deep-sea mineral blocks, including three lime mud blocks, three construction sand blocks, and seven polymetallic nodule blocks.

The blocks contain critical minerals, including cobalt, copper, manganese, and nickel, which are vital for electric vehicles and solar panels.

Bidding for the first tranche of the auction is expected to conclude by the end of March.