Some Indian mining and cement companies have approached Dutch shipbuilder Royal IHC for technical assistance as they prepare to bid for deep-sea mineral blocks up for auction…
Some Indian mining and cement companies have approached Dutch shipbuilder Royal IHC for technical assistance as they prepare to bid for deep-sea mineral blocks up for auction, two sources with direct knowledge of the matter told Reuters.
In November, India launched the first tranche of auction for 13 offshore deep-sea mineral blocks, including three lime mud blocks, three construction sand blocks, and seven polymetallic nodule blocks.
The blocks contain critical minerals, including cobalt, copper, manganese, and nickel, which are vital for electric vehicles and solar panels.
Bidding for the first tranche of the auction is expected to conclude by the end of March.
Unlike countries like China, India is not yet prepared to extract minerals from the ocean's depths due to a lack of seabed mining expertise, experts say.
Anticipating a surge in demand, India, the world's fastest-growing major economy, is keen to accelerate seabed mineral exploration to boost the supply of raw materials critical for energy transition technologies.
India, the world's third-biggest emitter of greenhouse gases, aims to add 500 gigawatts (GW) of renewable energy by 2030, up from 165 GW currently, while also aiming for net zero emissions by 2070.
IHC has assisted with knowledge of mining techniques and
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