Emerging Markets, Metals

China “Eager To Cooperate” With India For Joint Deep Sea Mining Of Indian Ocean

China, IndiaAhead of Indian Prime Minister Narendra Modi’s official visit to China slated for May 14-16, Beijing has indicated that it is “eager to cooperate” with New Delhi on deep seabed mining in the Indian Ocean, according to a report from state-run China Daily.

China is fully prepared to cooperate with India on deep seabed mining in the Indian Ocean, said He Zongyu, the Deputy Director of China Ocean Mineral Resource R&D Association, China’s official organization engaged in exploration and development of ocean floor and subsoil.

The Deputy Director described India as an ideal partner of China in this particular venture, as both countries are on about the same level in terms of the development of deep seabed mining.

“China and India are both developing countries and contractors with the International Seabed Authority (ISA), so we have a lot in common and plenty of opportunities for further cooperation,” said He.

He said that a Chinese deep diving vessel recently discovered a huge active “chimney vent” — 20 meters tall and two meters wide — which contained precious metals, such as gold and silver, in the seabed and that a joint venture would be beneficial for both the Asian neighbors.

“If we cooperate, we could share the costs, the risks and the benefits,” He said.


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