India inks deep sea exploration contract with International Seabed Authority

New Delhi, Sep 20 (PTI) India has signed a 15-year contract with the International Seabed Authority (ISA) for exclusive rights to explore polymetallic sulphides in the Indian Ocean, Earth Sciences Minister Jitendra Singh said on Saturday.

Singh said, according to the contract, the ISA has granted exclusive rights to India to explore polymetallic sulphides (PMS) in the allotted 10,000 sq km area of the Carlsberg Ridge in the Indian Ocean.

PMS contain valuable metals such as iron, copper, zinc, silver, gold, and platinum, and are precipitates formed by hot hydrothermal fluids from oceanic crust.

Their strategic and commercial potential has attracted global attention, placing India at the forefront of deep-sea resource exploration, Singh said.

The minister said India has become the first country in the world to hold two contracts with ISA for PMS exploration, assuming a pioneering role in deep-sea resource exploration that affirms its strategic presence in the Indian Ocean.

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.

"By formalising exclusive 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. PTI SKU VN VN