Landmark Roadshow for Offshore Mineral Auction in Gujarat
The Ministry of Mines is gearing up for a significant event in Porbandar, Gujarat. On December 21, 2024, the ministry will host a roadshow to promote India’s first e-auction of Offshore Areas Mineral Blocks. This initiative aims to tap into the vast mineral resources located within the country’s Exclusive Economic Zone (EEZ). The event is expected to attract considerable attention from industry leaders and stakeholders, marking a pivotal moment in India’s mining sector.
Key Details of the Roadshow
The roadshow will be chaired by Shri V.L. Kantha Rao, the Secretary of the Ministry of Mines. He will be joined by Shri Dhaval Patel, the IAS Commissioner of Geology and Mines in Gujarat, along with other distinguished guests. The event will gather prominent figures from the mining, cement, and infrastructure industries. Their participation highlights the growing interest in offshore mineral exploration and the economic opportunities it presents.
During the roadshow, key presentations will be delivered by representatives from SBICAPS, MSTC, and the Geological Survey of India (GSI). SBICAPS will provide an overview of the auction process, detailing timelines, tender conditions, and requirements for participation. MSTC will showcase its advanced e-auction platform, which promises a seamless and transparent bidding experience. Meanwhile, GSI will present technical insights into the mineral potential of the offshore blocks, focusing on three specific blocks identified off the coast of Gujarat. These blocks, rich in lime mud, are particularly promising for the cement and construction sectors in the region.
The Significance of Offshore Mineral Exploration
This roadshow is part of a broader initiative following the launch of India’s first tranche of e-auction for offshore mineral blocks. This launch took place on November 28, 2024, under the guidance of Union Minister of Coal and Mines, Shri G. Kishan Reddy. A total of 13 mineral blocks have been earmarked for auction in this tranche. These include three lime-mud blocks in Gujarat, three construction sand blocks in Kerala, and seven polymetallic nodules and crusts blocks in the Andaman and Nicobar Islands.
The initiative stems from amendments made to the Offshore Areas Mineral (Development and Regulation) Act, 2002, in August 2023. These amendments introduced a transparent and competitive auction regime, aimed at attracting significant investments and streamlining the offshore exploration process. The focus is on valuable resources such as polymetallic nodules, lime mud, and construction sand, which are essential for various industries.
Invitation to Industry Stakeholders
The Ministry of Mines encourages industry stakeholders to participate in this transformative event. The roadshow presents a unique opportunity to explore the vast potential of offshore mineral exploration. Interested parties can access all relevant details about the auction, including terms and conditions, on the MSTC auction platform. The platform can be found at MSTC Auction Home.
This roadshow is not just an event; it is a gateway to unlocking India’s mineral wealth. By fostering collaboration between the government and industry, the Ministry of Mines aims to pave the way for sustainable development and economic growth in the mining sector. The upcoming auction represents a significant step forward in harnessing the country’s offshore resources, promising a brighter future for the industry and the economy as a whole.
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