India is working to mine rare earth elements from seabed to counter China's monopoly
India has joined the race to explore and develop deep-sea mining for rare earth elements — further complicating the geopolitics surrounding untapped sources of valuable minerals beneath the oceans. The country is building a rare-earth mineral processing plant in the east coast state of Orissa and it is spending around US$135 million to buy a new exploration ship and to retool another for sophisticated deep-water exploration off its coast. The Central Indian Basin, for example, is rich in nickel, copper, cobalt and potentially rare-earth minerals, which are highly lucrative and used widely in manufacturing electronics such as mobile phone batteries. They are found in potato-shaped nodules on the deep-sea floor. "These nodules offer a good solution to meeting the nation's demand for metals," C. R. Deepak, head of the deep-sea mining division at the National Institute of Ocean Technology (NIOT), Chennai, told SciDev.Net.
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U.S. companies increasingly seek to engage in seabed mining for minerals such as rare earth elements and cobalt that are critical to the broad U.S. economy and used in producing defense assets. The deep seabed contains two potential sources for rare earth elements: polymetallic nodules which typically contain manganese, nickel, copper, cobalt and rare earth minerals; and sea-floor hydrothermal vents which pump out rare-earth elements dissolved in their hot fluids.Related Quotes:
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