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The Economic Times

Business / The Economic Times

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India does not plan to revive offshore mining auction in near term, sources say

India has shelved plans for deep-sea mining auctions, citing a lack of technological readiness and anticipated low bidder interest. The initial auction for critical mineral blocks, valued over 1.5 trillion rupees, was annulled due to poor response. Companies find the venture economically unfeasible, with domestic miners unprepared for the substantial investments and specialized technology required.

1 Apr 2026 2:52 pm