MOSCOW, September 1. /TASS/. Russia's exclusive right to explore polymetallic nodules in the Clarion-Clipperton Zone of the northeastern Pacific Ocean has been extended until 2031, the Russian Ministry of Natural Resources announced.

The relevant contract was extended by Yuzhmorgeologiya and the International Seabed Authority (ISA). It was signed on behalf of the ISA by Secretary-General Michael Lodge. Following a visit to Moscow, he will participate in the Eastern Economic Forum (EEF) in Vladivostok, the ministry noted.

The area where Russia is conducting the exploration for mineral resources covers 75,000 square kilometers.

About ocean exploration

Polymetallic nodules in the Pacific Ocean are located at depths ranging from 4.7 to 5.4 kilometers, containing nickel, cobalt, manganese, and rare-earth elements, the Russian Ministry of Natural Resources noted.

"These are crucial components. For instance, cobalt and manganese are used in metallurgy to improve steel quality. These metals are also 'battery metals,' meaning they are used in the manufacture of various types of electric vehicles. Copper, meanwhile, is the third most in-demand metal in the world, after iron and aluminum. It is essential for the production of computers, televisions, and microwave ovens; it is used in drinking water supply systems and serves as a component in parts for aircraft, trains, and ships. Virtually all automotive wiring is made using copper," the ministry said.

To date, only 20 states have signed contracts with the International Seabed Authority (ISA) to conduct exploration in international areas of the World Ocean. Data analyzed by geologists worldwide indicate that oceanic cobalt resources amount to 351.87 million tonnes--7.5 times more than on land. Manganese resources in the ocean are five times greater at 74 billion tonnes, while nickel resources are 1.5 times larger, totaling 653 million tonnes, the ministry added.

"The ISA is the sole organization designated by the UN Convention on the Law of the Sea as responsible for geological contracts in the international seabed area--beyond the jurisdiction of coastal states. Russia currently holds three contracts with the ISA: for the exploration of polymetallic nodules and cobalt-rich ferromanganese crusts in the Pacific Ocean, and for the exploration of polymetallic sulfides in the Atlantic Ocean. These represent comprehensive sources of strategic mineral resources, meaning they are concentrated in a single location rather than needing to be searched for separately or extracted as byproducts," Russian Minister of Natural Resources and Environment Alexander Kozlov stated.