Why in News?
The Union Ministry of Mines launched the auction of two offshore mineral blocks in the Andaman Sea on 1 October 2026 for the grant of Composite Licences. The auction is being conducted through a transparent electronic auction process under the Offshore Areas Mineral (Development and Regulation) Act, 2002 and the Offshore Areas Mineral (Auction) Rules, 2024, as amended.
About Offshore Mineral Blocks
The two blocks, Sewell Rise-01 and West Sewell Ridge-01, together cover more than 1,632 square kilometres and contain polymetallic nodules and crusts. These deposits contain minerals such as cobalt, nickel, manganese, copper and rare earth elements, which are important for advanced manufacturing, clean energy technologies, electric mobility, electronics and other strategic applications.
Polymetallic nodules are mineral-rich deposits found on the ocean floor. According to the International Seabed Authority (ISA), major concentrations occur in the Clarion-Clipperton Fracture Zone in the Pacific Ocean, the Central Indian Ocean Basin and the Peru Basin. They are composed mainly of manganese and iron oxides, silicates and hydroxides, with trace quantities of nickel, copper, cobalt, manganese and rare earth elements.
These nodules range from micro-nodules to about 20 cm, with 2–8 cm being a common size. Their concentration of critical minerals has generated interest in deep-sea mineral exploration as countries seek to meet the growing demand for minerals required for clean energy, electronics and other strategic technologies.
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