South Korea said on Monday it has won the exclusive right to exploit a deep-sea mine in the Indian Ocean that could produce more than $300 million worth of minerals a year.
The 10,000-square kilometre (4,000 sq mile) site contains hydrothermal vents that could yield metals including gold, silver, copper, zinc and lead, the maritime ministry said in a statement.
The general assembly of the International Seabed Authority last Friday voted to give Seoul the exclusive right to develop the area — around 2,500 kilometres southwest of Sri Lanka — from 2013 to 2027, it said.
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