Sulphide ore rights
Source: Xinhua |
November 19, 2011, Saturday
|
Print Edition
Print Edition
CHINA has gained the right to explore a polymetallic sulphide ore deposit located in the Indian Ocean over the next 15 years.
The contract making the action possible was signed yesterday between the China Ocean Mineral Resources Research and Development Association and the International Seabed Authority.
The contract awarded the Chinese association exclusive rights to explore 10,000 square kilometers of international seabed in the southwest Indian Ocean.
According to the contract, the Chinese association will have to give up 75 percent of the ore deposit region within 10 years before enjoying preemptive rights of commercially mining the remaining 2,500 square kilometers.
The contract making the action possible was signed yesterday between the China Ocean Mineral Resources Research and Development Association and the International Seabed Authority.
The contract awarded the Chinese association exclusive rights to explore 10,000 square kilometers of international seabed in the southwest Indian Ocean.
According to the contract, the Chinese association will have to give up 75 percent of the ore deposit region within 10 years before enjoying preemptive rights of commercially mining the remaining 2,500 square kilometers.
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