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Roadshow on Offshore Mineral Blocks Auction to be held in Kochi

Published: Jan 11, 2025

By TIOLCorplaws News Service

NEW DELHI, JAN 11, 2025: IN a groundbreaking initiative to explore India's offshore mineral potential, the Ministry of Mines will organise a roadshow on 11th January 2025 in Kochi, Kerala. This event, showcasing the country's maiden e-auction of Offshore Areas Mineral Blocks, represents a pivotal step towards harnessing the untapped resources of India's Exclusive Economic Zone (EEZ).

The event will be chaired by V.L. Kantha Rao, Secretary, Ministry of Mines, Govt of India and attended by A.P.M. Mohammed Hanish, Principal Secretary, Industries Department, Government of Kerala, along with other prominent dignitaries and industry experts. With leading companies from mining, cement, and infrastructure sectors are expected to participate, the event promises to unlock new opportunities for economic growth and development.

Key sessions will include presentations by SBICAPS, MSTC, and GSI. SBICAPS will elaborate on the auction framework, highlighting tender requirements and participation guidelines. MSTC will showcase its cutting-edge e-auction platform, designed to ensure a transparent and efficient bidding process. GSI will present insights into the resource potential of offshore mineral blocks, with a spotlight on the three blocks identified off Kerala's coastline, rich in construction sand vital for the state's infrastructure and real estate sectors.

This roadshow is part of a larger initiative following the launch of India's first tranche of e-auction for offshore mineral blocks by Union Minister of Coal and Mines, G. Kishan Reddy, on 28th November 2024. A total of 13 blocks are being offered in this tranche:

- 3 blocks off the Kerala coast

- 3 blocks off Gujarat

- 7 blocks in the Andaman and Nicobar Islands

The e-auction follows significant reforms, including amendments to the Offshore Areas Mineral (Development and Regulation) Act, 2002, in August 2023. These changes have introduced a competitive, transparent process to encourage private sector participation in the exploration of offshore resources such as polymetallic nodules, lime-mud, and construction sand.

The Ministry of Mines invites industry leaders, investors, and stakeholders to participate in this pivotal roadshow and discover the immense opportunities in offshore mineral exploration. Comprehensive details about the auction, including block specifics and bidding conditions, are available on the MSTC auction platform: https://www.mstcecommerce.com/auctionhome/mlcln/.

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