The Government of Odisha had notified Odisha Mineral Exploration policy, 2015 to strengthen institutional set up for mineral exploration in the State and to upscale the mineral exploration activities so that the potential of mining sector is achieved through scientific exploration of mineral resources vide Resolution No-6065, dated the 4th July, 2015. In view of the same Odisha Mineral Exploration Corporation Ltd. (OMECL) was incorporated in 2016 as a wholly owned subsidiary of The Odisha Mining Corporation Limited (OMC).
Subsequently as per the directive of the Government of Odisha , the shares of the company have been transferred to Govt of Odisha in 2019 and OMECL became a wholly owned Odisha State government company with joint objectives of undertaking mining activities and exploration.