Money for mining the seas: India considers political and financial risks

Legislative reform could create the environment for investments at a scale the government can hardly provide

Photo: Wikipedia

Photo: Wikipedia

Subhomoy Bhattacharjee New Delhi
When Union Mines Secretary Vivek Bharadwaj said at a recent event that the government plans a new offshore law, industry leaders thought the private sector would get to mine in the deep seas in partnership with foreign companies.

Indian mining will have to up its game for such work. India holds 11 per cent of the world's proved deposits of titanium dioxide but it imports $1 billion of the “new age" mineral annually. Titanium has widespread use—from the defence industry to airlines—because it is lightweight and durable.

Bharadwaj blamed “technological inefficiencies, and litigation” for such failures. Stakes are high as most of these new age minerals go into the green energy sector and so are heavily linked to India’s net

First Published: May 09 2023 | 3:39 PM IST

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