On December 21, 2024, the Ministry of Mines organized a landmark roadshow in Porbandar, Gujarat, to introduce India’s inaugural e-auction of Offshore Areas Mineral Blocks. This initiative aims to tap into the country’s undersea mineral wealth within its Exclusive Economic Zone (EEZ).
The event was chaired by Secretary of the Ministry of Mines, Shri V.L. Kantha Rao, and attended by key figures including IAS Commissioner of Geology and Mines, Gujarat, Shri Dhaval Patel, along with industry leaders from the mining, cement, and infrastructure sectors. Presentations were delivered by SBICAPS, outlining the auction process; MSTC, demonstrating the e-auction platform; and the Geological Survey of India (GSI), highlighting the mineral potential of the offshore blocks, particularly the lime-mud-rich areas off Gujarat’s coastline.
This roadshow follows the Ministry’s launch of the first tranche of e-auctions for offshore mineral blocks on November 28, 2024. A total of 13 blocks have been identified for auction, comprising three lime-mud blocks in Gujarat, three construction sand blocks in Kerala, and seven polymetallic nodules and crusts blocks near the Andaman and Nicobar Islands. These resources are vital for sectors like cement manufacturing and construction.
The government’s commitment to a transparent and investor-friendly auction process is evident in this initiative, which seeks to drive economic growth, support infrastructure development, and create employment opportunities through the sustainable utilization of offshore mineral resources. All auction details, including terms and available mineral blocks, are accessible on the MSTC auction platform.
