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India will become the leader in offshore mining as not many countries have done much in this area, a government official said.
The technique of extracting mineral reserves from the deep seabed—that is, below 200 meters—is known as offshore mining.
The government has modified the offshore mining laws, according to a statement made by the Joint Secretary in the Ministry of Mines during this year's Critical Minerals Summit.
"We have done amendment to the Act for offshore mining, and we are working on the rules for that and India will be the leader in offshore mining because not many countries have done much of offshore mining, and we were working on it since August 2023," Joint Secretary added.
Mines Secretary V L Kantha Rao said in his address on Monday that the auction of offshore mines will begin in three months. The Offshore Areas Mineral (Development and Regulation) Act of 2002 has been revised to create an auction process for awarding production leases for offshore minerals.
"Currently, we are making rules. We are making seven types of rules under that Act to ensure that we can auction offshore mineral blocks. We have got 15 blocks explored by GSI (Geological Survey of India)... we have to do inter-ministerial consultations," the government had earlier said.
Offshore mining is the process of retrieving mineral deposits from the deep seabed at a depth of more than 200 metres. In the process, poly-metallic nodules, including precipitated iron oxy-hydroxides and manganese oxides, onto which metals such as nickel, cobalt, copper, titanium, and rare earth elements gather, are sorted, and unwanted sediments are flushed back into the sea.
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