 "India secures 15-year deep-sea mining exploration rights from International Seabed Authority")
India has signed a 15-year agreement with the International Seabed Authority (ISA), granting it exclusive rights to explore polymetallic sulphides (PMS) in a 10,000 sq km block of the Carlsberg Ridge in the Indian Ocean, Union Earth Sciences Minister Jitendra Singh announced on Saturday.
Polymetallic sulphides, formed by hot hydrothermal fluids from the oceanic crust, are rich in commercially valuable metals such as copper, zinc, iron, silver, gold and platinum. Their economic and strategic potential has drawn global interest, Singh noted, adding that India’s new deal places it at the forefront of deep-sea exploration.
With this agreement, India becomes the first nation to hold two contracts with the ISA for PMS exploration, strengthening its pioneering role in seabed resource development and affirming its strategic presence in the Indian Ocean.
The second contract covers the Central Indian Ridge and the Southwest Indian Ridge, giving India the largest PMS exploration area allotted under ISA’s mandate.
The new contract is a significant step towards realising the vision of the Deep Ocean Mission launched by Prime Minister Narendra Modi, which focuses on seabed mineral exploration, mining technology development, and strengthening India’s Blue Economy Initiatives, Singh said.
”rights for PMS exploration in the Carlsberg Ridge, India has further consolidated its leadership in deep-sea research and exploration. This will enhance our maritime presence and build national capacity for future resource utilisation,” he said.
With two PMS contracts now in place, the other in the Central Indian Ridge & Southwest Indian Ridge, India now holds the largest exploration area allocated for PMS in the international seabed, Singh said.
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