India has signed a 15-year contract with the International Seabed Authority (ISA) for exclusive rights to explore polymetallic sulphides in the Indian Ocean, Earth Sciences Minister Jitendra Singh said on Saturday. According to the contract, the ISA has granted exclusive rights to India to explore polymetallic sulphides (PMS) in the allotted 10,000 sq km area of the Carlsberg Ridge in the Indian Ocean. 

PMS contain valuable metals such as iron, copper, zinc, silver, gold, and platinum, and are precipitates formed by hot hydrothermal fluids from oceanic crust. “By formalising exclusive rights for PMS exploration in the Carlsberg Ridge, India has further consolidated its leadership in deep-sea research and exploration. This will enhance our maritime presence and build national capacity,” he said.