China bids for rights to search seabed
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E-mail China Daily, September 6, 2012
According to the seabed authority, it will sign a 15-year contract with China after approving the application. After eight years of exploration, China must give up exploration rights on 33 percent of the approved area and after 10 years, will only be allowed to explore about 1,000 sq km for future commercial mining.
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A deep sea oil drill platform in West Pacific Ocean [file photo] |
"Although no countries can realize commercial mining in the deep seabed exploration for mineral resources, gaining the exploration rights for the seabed will provide potential strategic mineral reserves for the country," Li said, adding China is accelerating its pace of deep-sea mining.
In June, Jiaolong, China's manned submersible, reached its record depth of 7,062 meters in the Mariana Trench, proving China has the technical capacity to explore 99 percent of the world's ocean floor.
"We will learn from the successful experience of Jiaolong in the deep-sea mineral resource mining, but it is a long way to go," Li said.
Cobalt-rich ferromanganese crusts are usually found on the flanks and summits of seamounts, about 2,000 meters below sea level, throughout the world's oceans, which are composed of mineral resources such as manganese, cobalt, copper and rare earths.
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