Why in the news?
In exercise of powers under Offshore Areas Mineral (Development and Regulation) Act 2002, the Central Government framed Offshore Areas (Existence of Mineral Resources) Rules, 2024.
About Offshore Minerals in India
- Offshore Mining: It is the process of retrieving mineral deposits from the deep seabed, at a depth of more than 200 metres.
- Extent: India’s Exclusive Economic Zone (EEZ) of over two million square kilometers holds significant recoverable offshore mineral resources.
- Mineral Deposits: India’s offshore mineral reserves include gold, diamond, copper, nickel, cobalt, copper, manganese, and rare earth elements essential for development.
- Reserves: Geological Survey of India has delineated the resources of the following minerals in the offshore areas:
- Lime mud within the EEZ off Gujarat and Maharashtra coasts.
- Construction grade sand off Kerala coast.
- Heavy mineral placers in the inner-shelf and mid-shelf off Odisha, Andhra Pradesh, Kerala, Tamil Nadu and Maharashtra.
- Phosphorite in the Eastern and Western continental margins.
- Polymetallic Ferromanganese (Fe-Mn) nodules and crusts in Andaman Sea and Lakshadweep Sea.
Offshore Areas (Existence of Mineral Resources) Rules, 2024
- Applicability: These rules apply to all minerals except mineral oils, hydrocarbons and minerals specified in Part B of First Schedule to the Mines and Minerals (Development and Regulation) Act 1957.
- Definitions: Rules use the modified version of United Nations Framework Classification (UNFC) and Committee for Mineral Reserves International Reporting Standards (CRIRSCO) Template for following:
- Exploration Stages: Exploration for any mineral deposit involves four stages:
- Reconnaissance survey (G4)
- Preliminary exploration (G3)
- General exploration (G2)
- Detailed exploration (G1)
- Feasibility Studies: Stages of feasibility study include: Geological study (F3), Pre-feasibility study (F2) and Feasibility study (F1).
- Exploration Stages: Exploration for any mineral deposit involves four stages:
- Exploration Standards: Rules mandate rigorous exploration standards to ensure accurate assessment and sustainable development of offshore mineral resources.
- A minimum of General Exploration (G2) to establish indicated mineral resource is required to grant mining leases.
- Completion of at least Reconnaissance Survey (G4) to estimate Reconnaissance Mineral Resource or mineral potentiality of mineral block is necessary for obtaining composite licenses.
- Geological Study: On completion of exploration operations, geological study report shall be prepared by the licensee to establish probable mineral reserve.
- Specific Exploration Norms: Rules set specific exploration norms for a variety of deposits and minerals, including construction-grade silica sand, calcareous mud, phosphatic sediments, deep sea minerals, rare earth element (REE) minerals, hydrothermal minerals, and nodules.