Ministry of Earth Sciences Signs contract with the International Seabed Authority (ISA)

• The Union Cabinet has given its approval for signing of 15 years contract by the Ministry of Earth Sciences with the International Seabed Authority (ISA) for undertaking exploration and other developmental activities related to Polymetallic Sulphides in the allotted area of 10,000 sq km.
• It will be done in parts of Central and South – West Indian Ridges (SWIR), located in the Indian Ocean.
• By signing the 15 year contract, India’s exclusive rights for exploration of Polymetallic Sulphides in the allotted Area in the Central Indian Ridge, and South West Indian Ridge in Indian Ocean will be formalized. Further, it will enhance India’s presence in the Indian Ocean where other players like China, Korea and Germany are active.
• Previously, in 2002, the government was granted permission only to explore ocean regions and prospect for precious metals.
• The International Seabed Authority (ISA), under the United Nations Convention on Law of the Sea (UNCLOS), earlier approved an application submitted by the Ministry of Earth Sciences (MoES), Government of India, for allotment of 10,000 sq. km. area along with 15 years plan of work for exploration of Polymetallic Sulphide (PMS) along Central Indian Ridge (CIR) 85 Southwest Indian Ridge (SWIR) region of the Indian Ocean.

Polymetallic sulphides (PMS)

• Deep seabedc polymetallic sulphides (PMS) containing iron, copper, zinc, silver, gold, platinum in variable constitutions are precipitates of hot fluids from upwelling hot magma from deep interior of the oceanic crust discharged through mineralized chimneys. PMS in the Ocean Ridges have attracted worldwide attention for their long term commercial as well as strategic value.
• Initial estimated resource of polymetallic nodules on the site retained by India on the central Indian Ocean basin is 380 million tonnes with 0.55 tonnes of cobalt, 4.7 tonnes of nickel, 4.29 tonnes of copper and 92.59 tonnes of manganese.

About ISA:

• The International Seabed Authority (ISA) is an intergovernmental body based in Kingston, Jamaica, that was established to organize, regulate and control all mineral-related activities in the international seabed area beyond the limits of national jurisdiction, an area underlying most of the world’s oceans.
• It is an organization established by the 1982 United Nations Law of the Sea Convention. It was established in 1994.
• Currently, the Authority has 167 members and the European Union, composed of all parties to the Law of the Sea Convention
• The Authority operates by contracting with private and public corporations and other entities authorizing them to explore, and eventually exploit, specified areas on the deep seabed for mineral resources essential for building most technological products
• ISA governs non-living resources of seabed lying in international waters.

By: Vishal