First-ever auction of offshore mineral blocks launched: 13 blocks in Arabian and Andaman Seas
On 28 November 2024 in New Delhi, Mines Minister G Kishan Reddy launched the first-ever tranche of e-auction of offshore mineral blocks — 13 blocks in the Arabian Sea and the Andaman Sea.
Summary
On 28 November 2024 in New Delhi, Union Coal and Mines Minister G Kishan Reddy launched the first-ever tranche of e-auction of mineral blocks in India's offshore areas. The tranche has 13 blocks across the Arabian Sea and the Andaman Sea, with construction sand, lime-mud and polymetallic nodules and crusts (containing cobalt, nickel and other metals). Reddy said 438 mineral blocks have been auctioned since the auction regime began in 2015. Mines Secretary V L Kantha Rao said the Geological Survey of India has identified about six lakh sq km of offshore area with mining potential. Tender documents go on sale from 3 December 2024 and bids are due by the end of February 2025. The auction is held online on the MSTC platform in a two-stage ascending forward process.
Key facts
- Launch
- 28 Nov 2024, by G Kishan Reddy
- Blocks
- 13 — Arabian Sea and Andaman Sea
- Minerals
- Construction sand, lime-mud, polymetallic nodules and crusts (cobalt, nickel)
- Context
- 438 blocks auctioned since 2015; GSI: ~6 lakh sq km offshore potential
- Timeline
- Tender sale from 3 Dec 2024; bids by end-Feb 2025; MSTC two-stage ascending auction
Practice MCQs 3 questions
How many mineral blocks were offered in the first-ever tranche of offshore mineral block auctions launched on 28 November 2024?
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Correct answer: D — 13
PIB (Mines): the first tranche includes 13 mineral blocks spanning the Arabian Sea and the Andaman Sea.
The blocks in the first tranche of offshore mineral auctions (November 2024) are located in which seas?
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Correct answer: B — Arabian Sea and Andaman Sea
PIB (Mines): the 13 blocks span the Arabian Sea and the Andaman Sea.
Consider the following statements about the first offshore mineral auction tranche: 1. The blocks feature construction sand, lime-mud and polymetallic nodules and crusts. 2. The Geological Survey of India has identified about six lakh sq km of offshore area with potential for offshore mining. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
PIB (Mines): the tranche features construction sand, lime-mud and polymetallic nodules and crusts, and the Mines Secretary said GSI has identified about six lakh sq km of offshore area with mining potential. Both are correct.