India to sign pact with UN body for critical minerals

INDIA WILL SIGN a contract with the United Nations convention mandated — International Seabed Authority (ISA) — in September for permission to scout for critical minerals used for renewable energy in the northwest part of the Indian Ocean, in addition to the existing two sites in Indian oceans.

- SANDIP DAS

"India will be signing a contract with ISA next month for the exploration for polymetallic sulphides (PMS), which contain rare earth minerals, at a location named Carlsberg Ridge located somewhere between Yemen and Maldives," M Ravichandran, secretary, ministry of earth sciences, told FE.

The National Centre for Polar and Ocean will carry out exploration of rare earth and based on its finding, contracts for exploitation for rare earth would be awarded, Ravichandran said.