+
India to Auction Offshore Mineral Blocks in 2-3 Months
ECONOMY & POLICY

India to Auction Offshore Mineral Blocks in 2-3 Months

The Indian government is set to commence the auction of offshore mineral blocks within the next two to three months, with around 10 mines included in the first phase, according to Coal and Mines Minister G. Kishan Reddy. The initiative follows amendments to the Offshore Areas Mineral (Development and Regulation) Act, 2002, introducing an auction mechanism for awarding production leases for offshore minerals.

These minerals, located deep within the earth's crust, include gold, diamonds, copper, nickel, cobalt, manganese, and rare earth elements. The auctions aim to boost the availability of critical minerals in India, reducing reliance on imports and supporting domestic industries.

Progress on Lithium Exploration Highlighting advancements in lithium exploration, Reddy stated that three stages of exploration of lithium blocks in Jammu and Kashmir have been completed, with the fourth stage underway. In 2023, India identified 5.9 million tonnes of lithium reserves in Jammu and Kashmir, marking a significant milestone for the nation’s energy transition efforts.

Lithium, a crucial component of lithium-ion batteries, is vital for electric vehicles and battery storage systems. While an earlier auction of lithium mines in Jammu and Kashmir was scrapped due to limited bidder interest, the government remains committed to developing this resource.

Global Efforts in Lithium Exploration In addition to domestic exploration, India has undertaken lithium exploration in Argentina, where five blocks are under examination. "Once exploration concludes, production will begin," Reddy assured.

The upcoming offshore auctions and lithium exploration efforts underscore India's focus on securing critical minerals to fuel its energy transition and bolster industrial self-reliance.

The Indian government is set to commence the auction of offshore mineral blocks within the next two to three months, with around 10 mines included in the first phase, according to Coal and Mines Minister G. Kishan Reddy. The initiative follows amendments to the Offshore Areas Mineral (Development and Regulation) Act, 2002, introducing an auction mechanism for awarding production leases for offshore minerals. These minerals, located deep within the earth's crust, include gold, diamonds, copper, nickel, cobalt, manganese, and rare earth elements. The auctions aim to boost the availability of critical minerals in India, reducing reliance on imports and supporting domestic industries. Progress on Lithium Exploration Highlighting advancements in lithium exploration, Reddy stated that three stages of exploration of lithium blocks in Jammu and Kashmir have been completed, with the fourth stage underway. In 2023, India identified 5.9 million tonnes of lithium reserves in Jammu and Kashmir, marking a significant milestone for the nation’s energy transition efforts. Lithium, a crucial component of lithium-ion batteries, is vital for electric vehicles and battery storage systems. While an earlier auction of lithium mines in Jammu and Kashmir was scrapped due to limited bidder interest, the government remains committed to developing this resource. Global Efforts in Lithium Exploration In addition to domestic exploration, India has undertaken lithium exploration in Argentina, where five blocks are under examination. Once exploration concludes, production will begin, Reddy assured. The upcoming offshore auctions and lithium exploration efforts underscore India's focus on securing critical minerals to fuel its energy transition and bolster industrial self-reliance.

Next Story
Infrastructure Urban

Companies in GIFT City IFSC Cross 400 Mark

As of July 31, 2025, a total of 409 companies are operating in the Gujarat International Finance Tec City – International Financial Services Centre (GIFT IFSC), Finance Minister Nirmala Sitharaman informed Parliament.In a written reply in the Lok Sabha, she highlighted that the number of firms in GIFT IFSC has grown nearly fivefold in less than five years — from 82 on October 1, 2020, to 409 by July 2025.The centre now hosts a wide range of entities, including those in banking, asset management, and allied services, alongside other financial segments.To support GIFT IFSC’s growth, the go..

Next Story
Infrastructure Urban

GMDA to Prepare Fresh DPR for Naurangpur Sewage Treatment Plant

The Gurugram Metropolitan Development Authority (GMDA) will prepare a fresh detailed project report (DPR) for the proposed 40 million litres per day (MLD) sewage treatment plant (STP) at Naurangpur. The move comes after it was found that a high-tension power line and a 24-metre-wide road pass through the site allocated for the project, requiring a revised plan.According to officials, the original 3.65-acre land parcel transferred from the Municipal Corporation of Manesar (MCM) was reduced to 2.89 acres following the road development. The presence of the power line further divided the land into..

Next Story
Infrastructure Transport

PM Inaugurates Bihar Highway and New Ganga Bridge

Prime Minister Narendra Modi will inaugurate a key highway project on Friday, connecting Aunta (Mokama) and Simaria (Begusarai), featuring a newly built 1.865-km bridge across the Ganga.The project establishes direct road connectivity between Mokama in Patna district and Begusarai. The bridge has been constructed parallel to the old two-lane rail-cum-road Rajendra Setu, which is currently under repair and restricts heavy vehicle movement.The new bridge will allow heavy vehicles to avoid a detour of nearly 100 km while travelling between north Bihar districts such as Begusarai, Supaul, Madhuban..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?