A crucial decision taken by China to extract minerals from sea for EVs. It is decided to start deep sea mining operations to extract precious minerals that are useful in making smartphones and in electric vehicle batteries.
China to extract minerals from sea for EVs
China took a massive decision which will change the entire scenario of the World of Energy drastically. It is decided to start deep sea mining operations to extract precious minerals that are useful in making smartphones and in electric vehicle batteries.
This will definitely boost up the batteries business which is the most prominent element in an electric car and also in wide range of renewable energy products.
China gets five of the 30 contracts which are signed by ISA with various governments, research institutions and commercial organizations for exploration.
Other countries like Belgium, Britain, Germany and Poland and some other in the Middle East showing interest in this venture. Under sea, polymetallic nodules that contain Nickel, Copper, Cobalt and Manganese are in greater demand for manufacturing smartphones and electric car batteries.
“I do believe that China could surely be among the first to start exploration under waters,” said Michael Lodge, ISA General Secretary, when he visited China last week. ISA was established to manage the seabed resources by the United Nations Convention on the Law of the Sea (UNCLOS). Now it is involved in the making of seabed mineral exploitation rules by July 2020. It will take another two to three years to issue licenses for seabed mining.
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