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Union Government signed contract basis of Exploration of Poly metallic Sulphides

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Union Government Singed Agreement with International Seabed Authority for handling exploration and other activities related to Poly metallic Sulphides.

Term of Contract: 15 years

Features of the Agreement:

  • The Agreement was developed by the Ministry of Earth Sciences with the BillInternational Seabed Authority
  • It is planned to install in parts of Central and South – West Indian Ridges allocated area about 10,000 Sq km which is located in the Indian Ocean
  • Union Government has privileged to traverse of Polymetallic Sulphides in the area of Central Indian Ridge and South West Indian Ridge in Indian Ocean
  • The Agreement will improve India’s presence in the Indian Ocean where other countries like China, Korea and Germany are energetic

About Poly metallic Sulphides:

  • It contains of Iron, Copper, Zinc, Silver, Gold and Platinum in variable constituents
  • These are formed by the precipitates of hot fluids from upwelling hot magma from deep interior of the oceanic crust
  • The discharge process is completed through mineralised chimneys

About International Seabed Authority (ISA):

  • Intergovernmental body
  • It organizes, regulates and controls all mineral (non-living resources) related activities in the international seabed area beyond the limits of national jurisdiction
  • It functions under the support of the United Nations Convention on Law of the Sea