Magazine Articles | Oceans | VOL. 12, ISSUE 70, January-February 2012 |

Fortunes under the Sea

Seabed mining is a new frontier for exploiting resources buried in the deep ocean and continental shelves. The first seabed mining was carried out in the year 1978 in the Pacific Ocean, some 1600 km south-east of Hawaii and was engineered by Ocean Management Inc (OMI) consortium. It was a 50 million dollars venture and 1000 tonnes of manganese nodules were netted out. OMI constitutes of agencies from West Germany, Japan, Canada and the US. While it is true that...

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