India launches offshore mineral auction to secure resources, reduce imports, and boost industries.

India will launch its first offshore mineral block auction on November 28, offering 13 blocks in the Arabian Sea and Andaman Sea. The auction includes minerals like construction sand, lime mud, and polymetallic nodules, crucial for infrastructure, high-tech manufacturing, and green energy. This move aims to secure domestic mineral resources, reduce import dependence, and stabilize supply chains, supported by an amendment to the Offshore Areas Mineral Act.

November 27, 2024
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