Centre launches auction of two offshore mineral blocks in Andaman Sea
BusinessLine 1 hr ago·1 Oct 2026, 3:46 pm
The Indian government has initiated the auction of two offshore mineral blocks located in the Andaman Sea. Named Sewell Rise-01 and West Sewell Ridge-01, these blocks cover a combined area of over 1,632 square kilometres. This move is part of the government's broader strategy to explore and monetize India's vast undersea resources to boost the economy.
For investors, this development signals a push towards energy security and resource diversification. It highlights the government's commitment to deep-sea exploration, which could unlock significant value for the nation. While the direct impact on listed companies may be limited at this stage, it reflects a positive macro trend towards self-reliance in critical minerals.
Investors should watch for updates on the auction process and the eventual winners. Success in these auctions could lead to long-term benefits for the Indian economy and potentially create opportunities for companies involved in deep-sea logistics and infrastructure in the future.
Excerpt from BusinessLine
The government on Thursday launched the auction of two offshore mineral blocks in the Andaman Sea. The two blocks – Sewell Rise-01 and West Sewell Ridge-01– lie in strategically important offshore areas, together spanning more than 1,632 square kilometres. These blocks contain polymetallic nodules and crusts, which…Read the original at BusinessLine
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