ISA okays Brazil's plan for cobalt seabed exploration

The International Seabed Authority (ISA) granted Brazil's geological service (CPRM) a license to explore for cobalt-rich ferromanganese crusts in the Rio Grande Rise.

The Rio Grande Rise is a long stretch of mostly volcanic rocks that extends from southern Brazil out to sea nearly all the way to the Mid-Atlantic Ridge at the island of Tristan da Cunha.

In early-February, CPRM submitted a working plan for the exploration in international waters to the Jamaica-based authority.

Brazil has agreed to invest US$11mn in the first five years of the 15-year exploration program, CPRM geology and mineral resources director Roberto Ventura was quoted as saying by paper O Globo in February.

The region has potential for the exploitation of cobalt, manganese and iron, Ventura said.