In India, a country already so hungry for gold, there may be a new source of precious metals to meet the public's seemingly insatiable desire for the yellow metal.
The catch? It's effectively at the bottom of the ocean.
Potentially Revolutionary Discovery
Scientists in India, primarily specializing in geology, have spent the past three years researching what types of valuable resources might be locked within the deposits that lie at the depths of the ocean surrounding its shores. The Indian subcontinent has a staggering 7,500 kilometers of coastline when its nearby islands are included.
The geologists were able to identify 10 billion metric tons of mineral-rich mud in these areas. Most exciting, this new discovery points to an enormous amount of precious metals in these undersea mud deposits surrounding the peninsula.
These results were recently reported in the South Asian news media and are making their way around the world now that the three-year study has gathered a sufficiently large sample of data.
It will likely be very costly, in terms of the machinery required, to extract all of this material from beneath the water. The further down you go into a body of water, the more energy (think: expenditure) is needed to pump things to the surface. Depending on the logistics of the operation, recovering the materials may be more expensive than the value of the precious metals that could be filtered out of the mud.
If this is the case, entrepreneurs and institutions in India would have to get creative in order to reap the benefits of having gold and silver riches beneath its ocean. Clearly, the next step will be determining the most cost-effective method for recovering these precious metals.
The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.