India Extends Auction for Deep-Sea Blocks Containing Critical Minerals
An auction for deep-sea blocks that contain vital minerals needed in electric car batteries and other items has been extended by India until May 1, according to reports.
Three blocks of lime mud, three blocks of building sand, and seven blocks of polymetallic nodules are among the 13 offshore deep-sea mineral blocks that India auctioned off in the first tranche in November.
Cobalt, copper, manganese, nickel, and other essential minerals are included in the blocks.
The original February 27 bid deadline was moved to April 2 and has since been extended once more.
In the southern state of Kerala, protests organized by fishermen have been reported by local media, and opposition parties have demanded that the auction be canceled due to environmental dangers.
In a written response to parliament earlier this month, the minister of mines stated that before to holding the auction, the ministry had spoken with the department of fisheries, the environment ministry, and others.
According to experts, India does not currently have the seabed mining skills necessary to harvest minerals.
As they get ready to bid for deep-sea blocks, a few Indian mining and cement businesses have asked Dutch shipbuilder Royal IHC for technical assistance.
In its onshore critical minerals auction, New Delhi has similarly had little luck, awarding bidders only roughly half of the 48 blocks.
However, in order to increase the supply of raw materials essential for its energy transition, India is eager to speed up seabed mining exploitation.
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It is currently the third-largest producer of greenhouse gases in the world and plans to increase its renewable energy output from 165 gigawatts (GW) to 500 GW by 2030 in order to reach net zero emissions by 2070.