The International Seabed Authority (ISA) has already issued India two deep-sea exploration licenses for the Indian Ocean, but mining has yet to be permitted. The ISA council is hosting meetings in Jamaica until July 26, 2024, to discuss the latest mining code draft.
Upon confirmation of regulations set by ISA, India and the other recipients of the mining licenses will be allowed to begin operations.
India plans to focus on the Clarion-Clipperton Zone (CCZ), a Pacific Ocean region located between Hawaii and Mexico that hosts an abundance of polymetallic nodules containing minerals used in the production of electric vehicles and solar panels (e.g., manganese, nickel, copper, and cobalt).
Mineral Supply for the Energy Transition
Polymetallic sulfide deposits carry metals such as copper, gold, silver, and zinc. Ferromanganese crusts are known to hold cobalt, nickel, manganese, platinum, and rare earth elements, among other resources.
Copper and lithium are only two of the 24 minerals India deemed “critical” for a successful green energy transition. Since India relies heavily on imports of raw materials and are looking to increase their mineral resources’ supply they are now also exploring available overseas assets.
With India’s expertise, experts say they would not be able to begin extracting minerals from the deep ocean for another three to four years.
Despite this, a top scientist at India’s Ministry of Earth Sciences, M. Ravichandran, says India is expecting two additional exploration permits for the Indian Ocean—specifically in regions known to have polymetallic sulfide deposits and ferromanganese crusts. These permits expire in 15 years.
