India has entered into a new 15-year agreement with the International Seabed Authority (ISA), granting the Ministry of Earth Sciences (MoES) sole rights to explore polymetallic sulphides (PMS) across a 10,000km² region in the Carlsberg Ridge in the Indian Ocean.
With this move, India becomes the first nation globally to enter into two contracts with the ISA for PMS exploration, reported ANI via the Hindustan Times.
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India’s earlier contract with the ISA covered exploration in the Central and Southwest Indian Ridges.
The country currently holds the largest exploration area allotted by the ISA for deep-sea mineral deposits, reported Reuters.
PMS are mineral deposits that develop in the vicinity of hydrothermal vents on the ocean floor.
These deposits are rich in various metals including copper, zinc, gold and silver.
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By GlobalDataThese metals are crucial for a range of applications, particularly clean energy technologies, electronics and other advanced technological fields.
India Union Minister Jitendra Singh said: “India’s 30-year association with the ISA has been a source of pride, and as ISA celebrates its 30th anniversary, India reaffirms its commitment to working closely with ISA to deliver on its mandate for the common heritage of humankind.”
India is also seeking exploration licences in areas of the Pacific Ocean.
Ministry of Earth Sciences Secretary M. Ravichandran noted that the signing of second PMS exploration agreement was a significant achievement for the ministry and its autonomous institute, the National Centre for Polar and Ocean Research in Goa.
Ravichandran added: “This marks India as the first member state and government contractor of ISA to hold two PMS exploration contracts. It is also a matter of pride that India now has the largest area allocated globally in the International Seabed for PMS exploration.”
Last month, Reuters reported that India is preparing to end a long-standing state monopoly over its nuclear sector by allowing private companies to mine, import and process uranium.
