Posts Tagged ‘China’
China got the rights to explore in the international seabed
China has won the right to explore a polymetallic sulfide ore deposit located in the Indian Ocean during the next 15 years. The contract that enabled the project was signed on Friday between the Association for Research and Development of China Ocean Mineral Resources and the International Seabed Authority.
The contract awarded to the association exclusive rights to explore 10,000 square kilometers of the international seabed in the southwest Indian Ocean.
According to the document, after ten years the association must provide 75 percent of the region of mineral deposits, and then you can enjoy preferential rights to commercially exploit the remaining 2,500 square kilometers.
The association will also have to meet specific obligations in terms of environmental monitoring, environmental research and training basic scientists from other developing countries, under the contract.
This is the second time that China gets the right to explore an international deposit of minerals in the seabed. In 2001, the country had a free hand to explore an area of 75,000 square kilometers of seabed in international waters in the northeastern Pacific Ocean, in search of ore for polymetallic nodules.