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South Korea will mine in the Indian Ocean
South Korea received the exclusive right to explore underwater deposits in the Indian Ocean, IA Ruskor reports.
Between the Korean Ministry of Oceans and Fisheries and the International Seabed Authority (ISA), an agreement has been signed allowing South Korea to explore an area of 10 000 square kilometers for hydrothermal minerals in the Indian Ocean until 2029.
“With this agreement, the country has benefited from the extraction of underwater minerals, a strategic resource for the future,” the ministry said in a press release.
The latest agreement with the ISA increases the total area of underwater development in South Korea to 112 000 square kilometers, including an area of 75 000 square kilometers in the Pacific Ocean, which is projected to contain 560 million tons of manganese raw materials estimated at $ 370 billion.