On July 20, Jamaica Time, the “Application for the Right to Explore Polymetallic Nodule Reserved Area of International Seabed Area” submitted by China Minmetals Corporation was approved by the Council of the International Seabed Authority (ISA). Minmetals will enter into a 15-year exploration contract with the ISA at the right time. This marks that Minmetals has obtained the exclusive exploration right in the polymetallic nodule mining area of Eastern Pacific Ocean covering an area of over 72,740 square kilometers and is entitled to preferential mining of the block after the termination of the exploration contract. This is also the first time for China to obtain an international seabed mining area through an enterprise.
The application area of Minmetals is located in the Polymetallic Nodule Reserved Area in CC Zone of Eastern Pacific Ocean, which is composed of 8 sub-blocks, generally in the eastern, middle and western areas. Polymetallic nodules, also known as manganese nodules, are rock concretions formed of concentric layers of iron and manganese hydroxides. They are distributed on the bottom surface of the oceans worldwide, at a depth of 3,500-6,000 meters, rich in dozens of elements including manganese, nickel, cobalt, and copper.
Through 2 years of coordination and organization, careful planning and steady progress, Minmetals has successively completed the application and feasibility reports, budgeting, application and reply of the Polymetallic Nodule Reserved Area of the International Seabed Area, finally obtaining the exclusive exploration right and preferential mining right. This is in line with the national maritime strategy, and can help Minmetals expand its channels for obtaining resources and possibly obtain considerable manganese, cobalt, nickel, copper and other metal and mineral resources.
Through marine mineral resources development, Minmetals is expected to obtain national policy support, promote the development of its relevant industries and technical equipment, and significantly enhance its international and industrial influence.
