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Centre readies to auction 10 offshore mineral blocks

 September 18, 2024  Leave a Comment on Centre readies to auction 10 offshore mineral blocks
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The centre will shortly conduct auction of ten offshore mineral blocks in a bid to widen the sources of raw materials for crucial industries such as construction in the country.

Speaking at the 58th Annual General Meeting (AGM) of the Federation of Indian Mineral Industries (FIMI), Secretary, Ministry of Mines, V L Kanta Rao said, “We have conducted extensive surveys of our exclusive economic zones and identified many places from where sand, limemud, Polymetallic nodules and other oceanic minerals can be extracted.”

The Geological Survey of India (GSI) has been working in offshore exploration since 1970s and has earmarked various offshore blocks for Polymetallic Nodules, heavy mineral placers, Limemud and construction sand. But auction of these blocks for commercial activities is expected to only begin now.

“We are ready with 10 blocks spread across the East and West coast that will shortly be auctioned. These will include sand, lime mud, and Polymetallic nodules,” Rao said.

According to Rao, the centre is also working with states to ensure speedy operationalisation of mines. “While the centre makes the laws and rules, it is up to the states to implement them,” he said.


Rao said the centre is readying a state mining index to rank states on the work they are doing for the sector. He said this will result in more mines starting operations as shortcomings will be identified and best practises from other states will be adopted.



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