Rajya Sabha passes Bill to provide fixed 50-year production lease for offshore minerals aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
India News: India's mining sector is in for a sea change, literally, with Parliament on Thursday passing the Offshore Areas Mineral (Development and Regulation) A
Rajya Sabha passes Bill to provide fixed 50-year production lease for offshore minerals indiagazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiagazette.com Daily Mail and Mail on Sunday newspapers.
Lok Sabha has passed a bill that paves the way for mining offshore minerals. The Offshore Areas Mineral (Development and Regulation) Act of 2002 aims to allocate operating rights to extract resources in a "fair and transparent" way. It also aims to prevent pollution and to mitigate the impact of mining offshore on the marine environment.
The Indian government has introduced a bill to amend the Offshore Areas Mineral (Development and Regulation) Act, 2002, to create a transparent allocation process for offshore mineral extraction. The proposed bill aims to establish a fair mechanism to allocate operating rights for offshore mineral extraction, aiming to remove the impasse in the sector.