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India to Unearth 62 Offshore Mineral Blocks for Mining: Implications

News: 

The government is in the process of framing regulations for exploration and mining in offshore blocks, which contain minerals such as zirconium, titanium, thorium, tungsten and rare earth elements.

Source: ET

SNP Insight:

The government of India is poised for allocating 62 offshore mineral blocks for exploration and mining. It would help unleash the prospects for the development of minerals like zirconium, titanium etc along with rare elements like diamond, sapphire and garnet. The interim benefits like renewed investors interest including both foreign and domestic,generation of employment opportunities can be reaped once the issues like environmental concerns,pollution, corruption etc are addressed. Along with this the timely implementation of the overall process holds the key to success.

 

Source: SNP Infra Research