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India holds workshop on offshore mining, reviews auction plan

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The development of environmentally friendly and sustainable offshore mining and the technology to enable it was the main topic of a workshop held in Delhi.

India holds workshop on offshore mining, reviews auction plan
India analyses the auction plan and hosts a workshop on offshore mining.

New Delhi: According to a press release from the mines ministry, a workshop on the future of offshore mining in India was held there on Wednesday. Reviewing the proposed offshore mineral auction’s draft regulations was another chance offered by the event.

Additional Secretary of Mines Sanjay Lohiya, Secretary of Earth Sciences M. Ravichandran, and Secretary of Mines V.L. Kantha Rao were present during the workshop. Participants in the training included representatives from various government departments, state governments, PSUs, mining corporations, prospective bidders, and industry associations.

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The ministry of mining intends to use a number of strategic measures to make it easier for the projects to be funded. Additionally, the government will offer incentives to private and startup businesses so they can work on developing offshore mining technology in India.

Ravichandran stressed during the event the significance of environmentally responsible and sustainable offshore mining development in India. In addition, he was open to recommendations and comments from industry participants regarding how to advance the nation’s offshore mining business.

The ministry of mines has also announced that an auction will soon take place for certain offshore mineral blocks in India’s exclusive economic zone that are used for the mining of lime mud, polymetallic nodules that include important minerals like cobalt and nickel, and building sand. The administration anticipates that shortly after the draft rules are prepared, the auction procedure will begin.

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