Global Energy Leaders' Summit Logo and Website Launched (See 'Corp Brief') India and Canada Hold 7th Ministerial Dialogue on Trade and Investment (See 'Corp Brief') Under MCX Alliance C-DOT extends supports to Start ups (See 'Corp Brief') Company Law - Company can prosecute any of its officers and when any officer of Company is to be prosecuted, then Section 439 of Companies Act would not be applicable: HC (See 'Legal Desk') IPR - Mere identity or similarity of mark, of which registration is sought, and earlier mark, is not sufficient as ground to reject registration application: HC (See 'Legal Desk') Govt to launch workshops to implement Vegetable Oil Products Production (See 'Corp Brief') Goyal calls for transformation from 'Van Dhan to Vyapar Dhan' (See 'Corp Brief') Banks record steady growth, improved asset quality and stronger digital performance (See 'Corp Brief') QCI and BHEL jointly organize Inter PSU Gunvatta Manthan to promote quality (See 'Corp Brief') Misc - Remedy for recovery of money instituted under Article 226 of Constitution of India is not intended to enable claimant to recover monies, recovery of which by suit is barred by limitation: HC (See 'Legal Desk') Chouhan presents 'Plant Genome Saviour Awards' to farmers in New Delhi (See 'Corp Brief') Students from Goa & Uttarakhand explore Arunachal under Ashtalakshmi Darshan (See 'Corp Brief') Commercial Courts Act 2015 - injunction on use of trade mark BISCO is valid as it is nearly identical to existing trade dress named BISCOFF: HC (See 'Legal Desk') IICA and WNS Global Services launch YBRANT programme on CSR (See 'Corp Brief') India reaffirms commitment to Equity, Climate Justice and Multilateralism at CoP30 (See 'Corp Brief') PMLA - When monies lying in account of accused which has been attached by ED is not proceeds of crime but are untainted monies bank, same needs to be released to bank: SAFEMA (See 'Legal Desk') CCI allows Lence Pte to pick up equity in AWL Agri Business (See 'Corp Brief') Yadav asks authorities from NCR States to submit Action Taken Reports on Air Pollution (See 'Corp Brief') IPR - In case of deceptive similarity and consumer confusion, defendant's continued use of mark constituted deliberate infringement: HC (See 'Legal Desk') UIDAI partners with Behavioural Insights to address awareness-related barriers (See 'Corp Brief') IPR - Evidentiary standards are requisite for establishing copyright infringement claims, particularly in relation to governmental projects and alleged appropriation of original works: HC (See 'Legal Desk') National Watershed Conference Begins in Guntur (See 'Corp Brief') DG, IICA, underscores convergence between India Inc. & armed forces (See 'Corp Brief') RERA - Real Estate Regulatory Authority is, for all intents and purposes, 'Court' for purposes of transfer jurisdiction, and High Court has jurisdiction to order transfer unless bias is shown to exist: HC (See 'Legal Desk') RM inaugurates state-of-the-art DPSU Bhavan (See 'Corp Brief') Millet reflects Odisha's heritage and future: CM (See 'Corp Brief') NI Act - Legal notice sent to cheque drawer over dishonor of the instrument, must specifically demand payment of 'cheque amount', in absence of which preconditions to institute proceedings u/s 138 do not stand fulfilled: HC (See 'Legal Desk') TRAI releases paper on Interconnection matters (See 'Corp Brief') IPR - Order Registrar of Trade Marks failing to comply with Rule 100 of Trade Marks Rules, 2017, which mandates a minimum notice period before initiating suo moto cancellation proceedings, cannot be sustained: HC (See 'Legal Desk') Rijiju visits Saudi Arabia to fix Haj quota for 2026 (See 'Corp Brief') IBC - All dues, including statutory dues owed to Central Govt., any State Govt., or any local authority, if not included in Resolution Plan, shall stand extinguished: HC (See 'Legal Desk') Chouhan to participate in 'Mandia Dibasa' to promote millets (See 'Corp Brief') A&C - Justice must be advanced on merits of case rather than defeated by technical or procedural lapses, particularly when such lapses are attributable to institutional processes beyond control of appellant: HC (See 'Legal Desk') India welcomes Brazil's initiative to establish Tropical Forests Forever Facility (See 'Corp Brief') Prevention of Corruption Act, 1988 - purpose of imposing conditions while granting bail is to secure presence of accused during trial & not to curtail personal or professional liberty: HC (See 'Legal Desk') IWAI hands over Kalughat Intermodal Terminal to PPP Operator (See 'Corp Brief') IPR - Unfair advantage of reputation and goodwill amassed by plaintiff's marks, calls for passing off against defendant: HC (See 'Legal Desk') Chouhan addresses conference of 20,000 farmers in Maharashtra (See 'Corp Brief') FERA - If exporter chose to realise export proceeds in the Indian Currency, then he had to ensure that export is made within bilateral framework of trade: SAFEMA (See 'Legal Desk') India, Bhutan unite in Prayer: Buddha Relics for Global Healing at Thimpu Festival (See 'Corp Brief') Benami - Even if there are cash infusions into bank accounts of alleged benamidar, no provisional attachment can be made in absence of evidence to show that such infusions are made by beneficial owner: SAFEMA (See 'Legal Desk') NPG evaluates projects from Ministries of Road, Highways & Railways (See 'Corp Brief') IPR - Refusal of registration is contingent upon existence of 'likelihood of confusion': HC (See 'Legal Desk') Competition Law - Dominance alone does not constitute abuse u/s 4 and competition law will intervene in digital platforms only where market-wide harm, exclusionary conduct, or unfair leveraging is evident: CCI (See 'Legal Desk') Government intervention and Corporate governance (See CORP EINSICHT)

Print

Ministry of Mines to launch Auction of Mineral Blocks in Offshore Areas of India

Published: Nov 28, 2024

By TIOLCorplaws News Service

NEW DELHI, NOV 28, 2024: THE Ministry of Mines, Government of India, will be launching the first-ever tranche of auction of mineral blocks in the offshore areas of India on 28th November 2024. This landmark initiative marks India's entry into the exploration and development of undersea mineral resources within its offshore area. Offshore area of India includes the territorial waters, continental shelf, exclusive economic zone (EEZ) and other maritime zones of India.

India's Exclusive Economic Zone (EEZ) of over 2 million sq.km. holds significant mineral resources. Offshore minerals are vital to securing India's strategic and economic interests. With the rapid global shift towards technologies reliant on high-demand minerals, such as cobalt, nickel, rare earth elements (REE), and polymetallic nodules, India must develop diverse mineral sources to reduce dependence on imports and stabilize its supply chains.

In August 2023, the Parliament amended the Offshore Areas Mineral (Development and Regulation) Act, 2002, mandating auction as mode of allocation of mineral blocks in the offshore areas. This amendment allows the government to streamline the grant of production leases and composite licenses for the exploration and extraction of these resources.

This first tranche includes 13 carefully selected mineral blocks spanning across the Arabian Sea and Andaman Sea, featuring a mix of construction sand, limemud, and polymetallic nodules. These minerals are critical for infrastructure development, high-tech manufacturing, and the green energy transition.

Union Minister of Coal and Mines, G. Kishan Reddy and Union Minister of State for Coal and Mines, Satish Chandra Dubey will officially launch this ground-breaking initiative.

Ministry of Mines, Government of India, thrives to mark a transformative chapter in India's mineral exploration journey, with the potential to unlock vast economic and strategic opportunities. By fostering private sector participation, leveraging advanced technologies, and streamlining regulatory frameworks, this initiative underscores the government's commitment to sustainable resource utilization and self-reliance. As India steps into this new frontier of undersea mineral exploration, it aims to not only bolster its industrial and green energy sectors but also secure its position as a global leader in critical minerals.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.