+
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
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?