India to auction two offshore mineral blocks in the Andaman Sea
The Ministry of Mines will hold an auction on Thursday for two offshore mineral blocks in the Andaman Sea, aiming to boost investment and exploration.
On Thursday, India’s Ministry of Mines will launch an auction for two offshore mineral blocks located in the Andaman Sea, offering them under a composite licence. The auction is intended to spur systematic exploration, draw private-sector investment and promote the use of cutting-edge technologies in offshore mining. The government stresses that minerals like cobalt, nickel, manganese, copper and rare earth elements are critical for electric mobility, renewable energy systems and other strategic sectors.
The process follows the Offshore Areas Mineral (Development and Regulation) Act, 2002 and the 2024 Auction Rules, which were updated in 2023 to allow competitive allocation. Officials say the initiative will enhance India’s self-reliance, resource security and sustainable economic growth.
