NEW DELHI: In a bid to to seek critical minerals such asnickel, lithium, and cobalt from ocean beds, the central government is planning to amend the Offshore Minerals Act, a move which would help reduce India's dependence on imports of these essential natural resources.

Highly-infolrmedsources said that amid disrupted supply chains owing to the year-long Russia-Ukraine war, the Centre plans to look for these minerals within the country, rather than depending on other countries for sourcing them, before they become difficult to find abroad. In this light, the mines ministry plans to mine them from ocean beds as no stakes are available there, sources aware of the development said.

The process of identifying critical minerals blocks in sea beds is currently on, sources added. Once these critical minerals are mined, the government plans to put them up for sale and even private entities will be given production leases through auction by amending the Offshore Mineral Act, sources said further. The mines ministry is amending the Offshore Areas Mineral (Development and Regulation) Act, 2002 and has sought the stakeholders' views on it.

Atomic minerals, however, have been kept out of the auctioning regime and will remain under the monopoly of state-owned FIRMS as requested by the Department of Atomic Energy, It said. For offshore mining of non-atomic minerals, too, the Centre has reserved the right to terminate the lease for national security or national interest.

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