India digs for Gold and Silver

Published: Jul 2, 2015 16:28
India has been granted 10,000 square kilometers near Rodriguez Triple Junction (RTJ) in southern Indian Ocean for exploration of mineral deposits and precious metals including gold and silver.

 

By  Paul Ploumis 30 Jun 2015  Last updated at  08:35:43 GMT
NEW DELHI (Scrap Monster): India has been granted 10,000 square kilometers near Rodriguez Triple Junction (RTJ) in southern Indian Ocean for exploration of mineral deposits and precious metals including gold and silver. This is the first ever seabed exploration by India of polymetallic sulphide mineral deposit.
 
According to scientists at the Goa-based National Centre for Antarctic and Ocean Research (NCAOR), the 15-year exploration license was granted last year by the International Seabed Authority (ISA). The first level of exploration works has been completed. The scientists are currently working upon the data collected during the initial phase. The second level of exploration activities will be taken up jointly by the NCAOR and the National Institute of Ocean Technology (NIOT).
 
The exploration activities will be carried out using ROSUB 6000- an underwater remotely operated vehicle domestically developed at NIOT. This vehicle could operate in depths of around 6,000 metres. The vehicle is capable of identifying black smokers which ejects minerals while emitting hot liquid. The high resolution cameras could capture quality videos from a distance of up to 1.5 metres.
 
As per NCAOR scientists, Polymetallic sulphide holds gold and silver in minor quantities in addition to copper, iron and lead in commercial quantities. The exploration will also study about chemosynthetic bacteria which forms the base of our food chain.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
7 hours ago
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
Read More
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.
7 hours ago
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
7 hours ago
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
Read More
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.
7 hours ago
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
7 hours ago
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Read More
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.
7 hours ago
India digs for Gold and Silver - Shanghai Metals Market (SMM)