Marine mineral policy considerations for India’s exclusive economic zone

Abstract

In general, for any country, the national marine mineral resource policy deals with all aspects of marine resource research, exploration, development, or exploitation. Because of the pioneering nature of marine mineral resource activities, it is imperative that nations put in place the basic structure of a national marine mineral resource policy that will ensure that all activities are conducted in such a way so as to maintain national sovereignty, self-sufficiency, and self-determination while promoting the development of the valuable resources of their EEZ (exclusive economic zone). The keystone of any national policy will be to optimize the economic returns from a marine mineral mining enterprise, both for the nation and the investor, within the constraints of such a pioneering activity. A critical consideration for many countries would be to balance national and international deep ocean research in EEZ with the interests of economic development by the private sector.