India Launches Offshore Mineral Auctions, Eyes Global Partnerships for Processing

India has initiated its first-ever offshore mineral block auctions, seeking international collaboration to boost the processing of critical resources. The auction, launched on Thursday, includes 13 mineral blocks across the Arabian Sea and Andaman Sea. These blocks feature a variety of minerals, including construction sand, lime-mud, polymetallic nodules, and crusts, essential for infrastructure, high-tech manufacturing, and green energy development.

Representatives from South Korea, Indonesia, the Netherlands, the United Kingdom, and Australia attended the launch event, alongside state government officials and private sector stakeholders. India aims to secure global partnerships for the processing of these offshore minerals to strengthen its industrial and green energy supply chains.

Prospective bidders have until February 2025 to submit their bids for these offshore mines. Speaking at the launch, Union Minister of Coal and Mines G. Kishan Reddy highlighted the growing demand for critical minerals in India, emphasizing their importance for the country’s green energy transition.

To further bolster mineral supply chains, India plans to launch a National Critical Mineral Mission. This initiative will address the country’s increasing demand for essential resources and enhance its self-reliance in the sector.

The government’s focus on offshore mineral exploration and processing reflects its strategic commitment to supporting infrastructure growth, technological advancement, and sustainable energy development.