Cobalt: The Treasure Beneath the Afanasy Nikitin Seamount

 Cobalt: The Treasure Beneath the Afanasy Nikitin Seamount

 By Rohan Kumar V  Jun27,2024

Pic:https://samvadaworld.com/

• Cobalt is at the heart of the emerging competition, a metal classified as a critical mineral and readily available within the AN Seamount.
• If India secures mining rights at the Afanasy Nikitin Seamount, it is likely to exploit cobalt and other minerals vital for lithium-ion batteries used in electric vehicles, mobile phones, and renewable energy storage.
• Cobalt exports could bolster India’s foreign exchange reserves, create employment through related industries, and advance technological development across Indian industries.

The Afanasy Nikitin Seamount, a geological formation in the Central Indian Basin, has emerged as one of the key targets in the competition for utilising valuable resources. This underwater treasure is named after the Russian trader Afanasy Nikitin, who visited India in the 15th century and is located approximately 3,000 kilometres off the shores of India. Spanning 400 kilometres in length and 150 kilometres in width, the top of the AN Seamount rises roughly 1,200 meters above the ocean floor, while its base reaches depths of around 4,800 meters.

Cobalt is at the heart of the emerging competition, a metal classified as a critical mineral and readily available within the AN Seamount. Cobalt is a vital component in battery technology, electronics, and high-tech industries, alongside nickel, manganese, and copper. The demand for cobalt remains steady amidst growing global demand for such minerals, especially cobalt, with major countries like India and China showing high interest in the resource.

India has shown extensive interest in the AN Seamount due to its potential for securing a reliable cobalt resource for strategic navy use. Recently, India has requested the necessary rights from the International Seabed Authority (ISBA) to mine this cobalt layer. In the expanding markets of electric cars and renewable energy, the role of cobalt in battery technology cannot be underestimated. India’s desire to commence the search and potential exploitation of cobalt resources at the AN Seamount is part of a larger scheme to enhance the nation’s technological and economic power. Cobalt management is equally crucial for China, which has also joined those willing to delve deeper into the AN Seamount. China is a major market and investor in renewable energy and electric vehicle industries, seeking control over key mineral supply chains. The political stakes are high, as control over the world’s cobalt supply may determine future advancements in technology and energy.

There is a historical aspect to this present-day competition, as the seamount hosting this race is named after Afanasy Nikitin. Nikitin, a Tver guild merchant, embarked on his journey in the first half of the 15th century, as documented in “A Journey Beyond the Three Seas.” Nikitin navigated major routes through the Volga, Ottoman territories, and the Lithuanian and Moldavian Principalities, facing numerous perilous situations while discovering new lands. His journey took him to Persia and eventually to India, where he experienced the richness of markets and diverse cultures.

The Afanasy Nikitin Seamount is potentially a great economic asset due to its mineral wealth—cobalt, nickel, manganese, and copper. These resources could be extracted to bolster regional and global economic systems. However, deep-sea exploration and mining entail costs and challenges associated with the harsh conditions at great ocean depths. Further complications arise from the environmental impacts of extracting resources in remote ocean locations with unique marine life. Balancing resource utilization with environmental protection is crucial, as these activities may impact local communities, and traditional fishing practices, and lead to social disruptions and conflicts among coastal cultural societies.

If India secures mining rights at the Afanasy Nikitin Seamount, it is likely to exploit cobalt and other minerals vital for lithium-ion batteries used in electric vehicles, mobile phones, and renewable energy storage. India could export cobalt directly, establish downstream industries like battery manufacturing, and integrate into global supply chains for batteries and electronics. Cobalt exports could bolster India’s foreign exchange reserves, create employment through related industries, and advance technological development across Indian industries.

Environmentally friendly mining practices are essential to minimize ecosystem impacts while pursuing economic benefits. Developing infrastructure such as ports, transport networks, and processing facilities will be crucial for exporting commodities. Moreover, India must establish itself as a credible cobalt supplier in the international market and compete with other cobalt-rich regions like the DRC and Australia.

The search for critical minerals off the Indian coast illustrates intense competition for resources. While the International Seabed Authority has yet to make decisions that will define future energy generation and environmental conditions, the Afanasy Nikitin Seamount represents a landmark of historical exploration and modern resource opportunity. Successful exploration and responsible mining of this seamount could positively impact India’s economy, increase employment opportunities, and enhance the country’s position in the global cobalt mining market. Achieving economic growth alongside environmental conservation will be crucial.

The Afanasy Nikitin Seamount holds promise as a potential mining area, contingent upon India obtaining permission.

PROS	CONS
Job Creation: This leads to the formation of associated industries, and therefore the creation of jobs.	Environmental Impact: Sudden impact on vulnerable underwater ecosystems.
Global Competition: Despite this, there will be competition with other regions that have complex mineral ores of cobalt supplies such as the DRC ( congo ) and Australia.	High Costs: Currently, deep-sea mining is costly and may be difficult to undertake due to the harsh environmental conditions under the sea.
Technological Advancement: Strengthens the industrial competencies in batteries and electronics applications on the global scene.	Ecological Disruption: Minerals could be exploited by digging and drilling that may interfere with the aqua-organism species.
Strategic Positioning: Boosts the value chain of necessary minerals in India to make it a more important player in the supply of these minerals.	Social and Cultural Impact: Endangers many native tribes and their way of fishing.
Energy Security: Ensure that renewable energy solutions have a consistent supply of essential materials.	Global Competition: Despite this, there will be competition with other regions that have complex mineral ores of cobalt supplies such as the DRC (Congo) and Australia.

India’s exploration and potential mining at the Afanasy Nikitin Seamount hold significant promise for economic and technological growth, but they also come with considerable environmental, financial, and social challenges that must be carefully managed.⍐