Ministry of Mines Launches Roadshow for Offshore Mineral Block Auction in Kochi
The Ministry of Mines is set to organise a significant roadshow on 11th January 2025 in Kochi, Kerala, to showcase India’s first e-auction of offshore mineral blocks. This event aims to unlock new opportunities in the mining, cement, and infrastructure se
Offshore MineralsEauctionMineral BlocksKeralaEconomic GrowthReal EstateJan 10, 2025
This event marks the country’s first-ever e-auction of Offshore Areas Mineral Blocks, a significant step towards harnessing the untapped resources within India’s Exclusive Economic Zone (EEZ).
The roadshow will be presided over by Shri V.L.
Kantha Rao, Secretary of the Ministry of Mines, Government of India, and will be attended by Shri A.P.M.
Mohammed Hanish, Principal Secretary of the Industries Department, Government of Kerala, along with other key dignitaries and industry experts.
The event is anticipated to attract leading companies from the mining, cement, and infrastructure sectors, promising to open new avenues for economic growth and development.
Key sessions at the roadshow will feature presentations by SBICAPS, MSTC, and GSI.
SBICAPS will delve into the auction framework, detailing tender requirements and participation guidelines.
MSTC will demonstrate its advanced e-auction platform, ensuring a transparent and efficient bidding process.
GSI will provide in-depth insights into the resource potential of the offshore mineral blocks, with a particular focus on the three blocks identified off Kerala’s coast, which are rich in construction sand, a vital resource for the state’s infrastructure and real estate sectors.
This roadshow is part of a larger initiative that began with the launch of India’s first tranche of e-auction for offshore mineral blocks by the Union Minister of Coal and Mines, Shri G.
Kishan Reddy, on 28th November 2024.
In this tranche, a total of 13 blocks are being offered
- 3 blocks off the Kerala coast
- 3 blocks off Gujarat
- 7 blocks in the Andaman and Nicobar Islands
The e-auction follows significant reforms, including amendments to the Offshore Areas Mineral (Development and Regulation) Act, 2002, in August 2023.
These changes have introduced a competitive and transparent process to encourage private sector participation in the exploration of offshore resources, such as polymetallic nodules, lime-mud, and construction sand.
The Ministry of Mines invites industry leaders, investors, and stakeholders to take part in this pivotal roadshow and explore the vast opportunities in offshore mineral exploration.
For comprehensive details about the auction, including block specifics and bidding conditions, visit the MSTC auction platform at https //www.mstcecommerce.com/auctionhome/mlcln/.
Frequently Asked Questions
What is the purpose of the roadshow in Kochi?
The roadshow aims to showcase India’s first e-auction of offshore mineral blocks and to encourage participation from the mining, cement, and infrastructure sectors. It will provide insights into the auction process, resource potential, and the benefits of exploring offshore mineral resources.
Who will be attending the roadshow?
The event will be chaired by Shri V.L. Kantha Rao, Secretary of the Ministry of Mines, and attended by Shri A.P.M. Mohammed Hanish, Principal Secretary of the Industries Department, Government of Kerala, along with other key dignitaries and industry experts.
How many offshore mineral blocks are being auctioned?
A total of 13 offshore mineral blocks are being offered in this first tranche, with 3 blocks off the Kerala coast, 3 blocks off Gujarat, and 7 blocks in the Andaman and Nicobar Islands.
What are the key sessions at the roadshow?
Key sessions will include presentations by SBICAPS on the auction framework, MSTC on the e-auction platform, and GSI on the resource potential of the offshore mineral blocks, with a focus on the blocks off Kerala’s coast.
Where can I find more details about the auction?
Comprehensive details about the auction, including block specifics and bidding conditions, are available on the MSTC auction platform at https://www.mstcecommerce.com/auctionhome/mlcln/.
Related News Articles
India's Capital Gains Tax Revision: A Boost for New and Long-Term Property Buyers
The recent revision of capital gains tax in India is expected to benefit new and long-term property buyers. Prestige Estates Projects, a leading property developer, believes that the changes will simplify the calculation of gains for investors and boost t
Concerns Arise Over UP Government's New Real Estate Mandate
Neeraj Sharma, MD of Escon Infra Realtors, expresses concern over the recent stamp duty imposition on sale agreements, stating it could have a stifling effect on the real estate market in Uttar Pradesh.
Navigating Gurgaon: A Daily Travel Dilemma
Real estate in Gurgaon, despite its poor civic infrastructure, remains in high demand largely due to necessity rather than preference.
MahaRERA Warns Developers: 10,773 Lapsed Real Estate Projects Face Action
The Mumbai Metropolitan Region, which includes the northern Konkan area, has the highest number of lapsed real estate projects at 5,231. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued notices to these projects, warning developers o
REITs: A Stable Investment Avenue for Portfolio Diversification
Real Estate Investment Trusts (REITs) are gaining popularity in India as a reliable investment option, providing steady income and portfolio diversification.
Kevin De Bruyne Net Worth 2025: Manchester City Star's Financials, Career, and Luxury Life
Dive into the massive net worth and luxurious lifestyle of Kevin De Bruyne, the Manchester City football legend. From his career earnings to real estate and luxury cars, we cover it all.