China gains approval to explore int'l seabed sulphide ore deposit
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Xinhua, August 2, 2011
China has gained approval to explore a 10,000-square-km polymetallic sulphide ore deposit in an international seabed region of the southwest Indian Ocean, the China Ocean Mineral Resources Research and Development Association said.
In a statement issued on Tuesday, the association said that its application for prospecting the region was recently approved by the International Seabed Authority (ISA).
The statement said that following the approval, the association will sign a 15-year exploration contract with the ISA later this year, adding that China will enjoy preemptive rights to develop the ore deposit in the future.
China also has exclusive rights to prospect in a 75,000-square-km polymetallic nodule ore deposit in the east Pacific Ocean. It obtained these rights in 2001.
