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Offshore mineral exploration Bill next session

Our Bureau

NEW DELHI, July 14

THE Union Government will soon introduce a Bill on offshore mineral exploration so that the huge resources hidden under the sea bed can be utilised properly by granting prospecting and exploration licences.

The draft of the Bill is ready and will be placed before the Cabinet soon, after which it will be tabled in the next session of Parliament. This was stated by the Minister of Mines, Mr Sunderlal Patwa, while inaugurating the conference of `State Minister s of Mining and Geology' here on Saturday.

The Bill is called Offshore Areas Mineral (Development & Regulation) Act. The significance of the Bill becomes evident from the fact that the total sea area under the Government's control is almost as much as the land area of the country and that offers huge opportunity, the Minister said.

Mr Patwa said that the industrial sector, including mines and minerals, should grow at least by 10 per cent to achieve the desired eight per cent GDP growth during the Tenth Plan period. To achieve this growth, mines regulation at the State level needs t o be streamlined to avoid large transaction costs.

He urged the State Governments to bring about more meaningful rationalisation and simplification of procedures to curb procedural delays and to bring about a change at the ground level.

Referring to the growth of the mining sector in India, Mr Patwa said that the total value of mineral production in 2000-01 has touched an impressive level of Rs 47,800 crore, accounting for about two per cent of the GDP.