Huge potential of offshore minerals to meet critical resources demand: Mines ministry

The mines ministry on Wednesday stressed on the huge potential of offshore minerals to meet the growing demand for critical resources.

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Speaking during a webinar on the country's maiden e-auction of offshore mineral blocks, Mines Joint Secretary Vivek Kumar Bajpai stressed on how this transformative step will boost India's self-reliance while opening avenues for global investments.

He urged international mining companies to grab the opportunity and contribute to a sustainable and resource-secure future for India, the mines ministry said in a statement.

The webinar also featured a detailed presentation by SBICAPS, who explained the auction process, including tender conditions, bidding timelines, and participation requirements.

The government last month launched the first round of auction of mineral blocks in offshore areas with 13 mines three lime mud, three construction sand and seven polymetallic nodules and crusts being put on sale.

PTI SID TRB 12181748