Jitendra Singh, Earth Sciences Minister on Saturday made an official announcement about an exploration contract signed by the Ministry, giving India a license to explore the seabeds of north west Indian Ocean to hunt for a class of precious metals.
The agreement was inked between the Ministry of Earth Sciences (MoES) and Jamaica-based International Seabed Authority (ISA) on Monday, September 15 in New Delhi.
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According to an official document, the contract grants India exclusive rights to explore an earmarked area of 10,000 sq km within the Carlsberg Ridge, a 300,000 sq km stretch in the Indian Ocean for 15 years to look for polymetallic sulphides (PMS).
These nodules are precipitates formed by hot hydrothermal fluids from oceanic crust and contain valuable metals such as iron, copper, zinc, silver, gold, and platinum.
Singh hailed the agreement and said, “This will enhance our maritime presence and build national capacity for future resource utilisation.”
Prior to this, India had obtained exploratory rights from the ISA in the Central Indian Ocean Basin. The first such permit was issued in March 2002 and, after two extensions, is set to expire on March 24, 2027.
For deep-sea exploration of polymetallic sulphides, this is a second. The previous agreement was signed on September 26, 2016 and is valid for a 15 year period until September 2031.
Commenting on India’s standing in deep-sea ocean explorations, Dr M. Ravichandran, Secretary, Ministry of Earth Sciences said, “This marks India as the first member state and government contractor of ISA to hold two PMS exploration contracts.”
He also noted that with this agreement, India now has the largest area allocated globally in the International Seabed for PMS exploration, calling “it a matter of pride.”