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The mines ministry has identified offshore blocks within India s exclusive economic zone for granting operational rights, following amendments to the Offshore Areas Mineral (Development & Regulation) Act (OAMDR) in August. The ministry has sought comments from relevant departments to prevent overlapping with other projects. ....
India s Upper House has passed an amendment bill to the Offshore Areas Mineral (Development and Regulation) Act paving the way for extraction of minerals in offshore areas. The amendment bill, which aims to establish a fair and transparent mechanism to allocate the operating rights for offshore mineral extraction is aimed at removing the impasse in the sector. The amendment aims to introduce a composite licence, which is a two-stage operating right granted for the purpose of undertaking exploration followed by production operation. ....