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According to a government official on Tuesday, India will take the lead in offshore mining, as not many other nations have made significant progress in this field. The technique of extracting mineral reserves from the deep seabed—that is, below 200 meters—is known as offshore mining.
In his speech on Monday, Mines Secretary V L Kantha Rao said that the offshore mine auction will take place in three months.
The government has modified the offshore mining laws, according to Veena Kumari D, Joint Secretary in the Ministry of Mines, who was speaking at this year’s Critical Minerals Summit.
“We have made amendments to the Act for offshore mining, and we are working on the rules for that. India will be the leader in offshore mining because not many countries have done much offshore mining, and we have been working on it since August 2023,” she stated.
In his speech on Monday, Mines Secretary V L Kantha Rao said that the offshore mine auction will take place in three months.
Production licenses for offshore minerals are now awarded through an auction process thanks to an amendment to the Offshore Areas Mineral (Development and Regulation) Act of 2002.
“We are now establishing regulations. In order to ensure that we can auction off-shore mining blocks, we are creating seven different kinds of rules under that Act. The administration had earlier declared, “We have 15 blocks that the Geological Survey of India has explored. We need to hold interministerial consultations.”
The technique of extracting mineral reserves from the deep seabed—that is, below 200 meters—is known as offshore mining. During the process, undesirable sediments are flushed back into the sea, and poly-metallic nodules—which include precipitated iron oxy-hydroxides and manganese oxides—that collect metals like nickel, cobalt, copper, titanium, and rare earth elements are sorted.
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