The Ministry of Mines, Government of India, will launch the auction of offshore mineral blocks on October 1, 2026, marking a significant step in unlocking India's offshore mineral potential and strengthening long-term mineral resource security. The auction comprises two offshore mineral blocks in the Andaman Sea region, which will be offered for grant of Composite Licence under the provisions of the Offshore Areas Mineral (Development and Regulation) Act, 2002 and the Offshore Areas Mineral (Auction) Rules, 2024, as amended from time to time.
Following amendments to the OAMDR Act in 2023, the Ministry of Mines has been empowered to auction offshore mineral blocks, enabling transparent and competitive allocation of offshore mineral resources. The targeted minerals include cobalt, nickel, manganese, copper and rare earth elements, which are critical inputs for electric mobility, renewable energy systems, advanced electronics and strategic industries.
The initiative is expected to encourage systematic exploration, attract investment and promote the adoption of advanced technologies for offshore mineral exploration and development. It reflects the government's commitment to expanding India's mineral resource base through responsible development of offshore resources and is expected to facilitate greater private sector participation and technological innovation in this emerging area with significant potential for meeting future industrial and strategic requirements.