Offshore mineral auction: Polymetallic nodule resource gaps pose challenges

Construction sand is a crucial component for infrastructure development, used in making concrete, mortar, and other building materials

The Ministry of Mines launched its first-ever offshore mineral auction in November. But a key challenge looms: There is no resource data available for seven G4 (reconnaissance) blocks of polymetallic nodules and crusts located off the coast of the Great Nicobar Island.

 

Of the 13 total blocks, three G3 (prospecting) blocks of lime mud off the Gujarat coast contain an estimated 1,712 million tonnes of resources, while three G3 blocks of construction sand off the Kerala coast hold around 335.09 million tonnes.

 

This analysis is based on a report dated December 21 by SBI Caps, the investment banking arm of