Detailed Survey Reveals First-Generation Mine Site in Central Indian Ocean Basin

Mining Weekly reported that India has discovered 7 860 km2 in the Central Indian Ocean Basin which can be used as a first-generation mine site, despite economic challenges extracting metals from polymetallic nodules in the ocean bed .

As quoted in the market report:

The 75 000 km2 area comprising the CIOB had an estimated polymetallic nodule resource potential of 380-million tons containing 4.7-million tons of nickel, 4.29-million tons of copper, 0.55-million tons of cobalt and 92.59-million tons of manganese, the Minister said.

To view the whole Mining Weekly report, click here.

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FormationMETALSLogo_LARGE_PMS7462_250Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) primary asset, located in the mining friendly state of Idaho, is the 100% owned, Idaho Cobalt Project. The ICP is a unique, high grade, primary cobalt deposit which is comprised of the mine and mill site and the proposed refining facility, the Cobalt Production Facility, a stand-alone hydrometallurgical facility that will process the ICP Mine concentrates into cobalt sulfate, copper sulfate, copper concentrate, magnesium sulfate and gold. Connect with FCO to get their latest news instantly.

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