Posted on March 26, 2025
Indian mining and cement companies have approached Dutch shipbuilder Royal IHC for technical assistance as they prepare to bid for deep-sea mineral blocks, two sources told Reuters.
In November 2024, India launched the first tranche of auctions for 13 offshore deep-sea mineral blocks, comprising three lime mud blocks, three construction sand blocks, and seven polymetallic nodule blocks. These blocks contain critical minerals like cobalt, copper, manganese, and nickel, essential for EVs and solar panels.
Bidding for these blocks is expected to conclude by the end of March 2025. However, unlike China, India currently lacks seabed mining expertise, prompting firms to seek international collaboration.
Royal IHC is helping Indian firms assess mining techniques and cost estimates for offshore extraction. The company is also open to supplying mining equipment if needed.
India recently hosted a government-backed virtual seminar, attended by 14 foreign mining companies from France, Namibia, the Netherlands, Norway, and Sweden, to explore offshore mining opportunities.
To attract participation in its first-ever seabed mineral exploration, India has introduced financial incentives. However, its onshore critical minerals auction has seen limited success, with only about half of the 48 blocks awarded so far.
