The surge in demand for critical minerals like lithium, cobalt, and graphite, crucial for green technologies combating climate change, has led to increased mining on land. With demand rising, there's growing interest in tapping into the seafloor's vast metal ore reserves.
However, scientists warn that limited knowledge about the ocean environment poses risks to safe deep-sea mining operations. Despite oceans covering over 70% of the Earth, they are understudied, housing diverse ecosystems in zones ranging from mangrove forests to coral reefs.
The High Stakes and Rewards of Deep-Sea Mining in the Green Tech Era
Deep-sea mining presents a challenging yet potentially rewarding venture with significant financial and societal benefits if well executed. The unproven technology and concerns about high costs in the current rare-earth-mineral market make it a risky investment, possibly leading to financial devastation for pursuing companies.
However, as the demand for critical minerals like manganese and cobalt skyrockets amid the accelerating energy transition, there is substantial potential for returns and a vast supply of minerals for the green economy.
Deep-sea mining targets valuable mineral deposits located on the ocean floor, containing essential materials for zero-carbon energy components and other technologies.
These minerals, including copper, cobalt, nickel, zinc, silver, gold, and rare earth elements, are found in polymetallic nodules, polymetallic sulfides around hydrothermal vents, and metal-rich crusts on underwater mountains. Recent technological advancements enable mining in these areas by deploying vehicles to harvest mineral deposits from the seabed.
In the case of polymetallic nodules, mining vehicles collect deposits from the seabed's surface, akin to a tractor plowing a field, along with top sediment layers. The collected materials are then transported to a surface vessel for processing, while any waste, such as sediments and organic materials, is pumped back into the water column.
Navigating the Legal Complexities of Deep-Sea Mining
The legal intricacies of deep-sea mining involve UN bodies, nations, private entities, and scientific groups. Originating in 1970 and incorporated into the United Nations Convention on the Law of the Sea (UNCLOS), the "Common Heritage of Humankind" principle seeks to protect the seafloor for peaceful use, emphasizing fair benefit distribution.
UNCLOS requires all nations to uphold and respect the seafloor, encouraging cooperation and preventing independent exploitation of its resources. The International Seabed Authority (ISA), established in 1994 due to the Common Heritage principle, regulates the seafloor but faces challenges as licenses were granted without adequate regulations, hindering exploration.
The agreements for mining concessions incorporate a clause enabling license-holding contractors to declare their intention to start mining. This initiates a countdown, allowing the ISA two years to finalize environmental regulations. If no agreement is reached within this timeframe, the contractor can theoretically commence mining.
Nauru activated this clause in July 2021, prompting the ISA to accelerate negotiations on seafloor mining, covering logistics, legal aspects, and environmental impacts, with a deadline for consensus by July 2023. However, as the deadline approached, public sentiments shifted, talks stalled, and the agreement deadline passed without resolution.
However, some countries are now advocating for a precautionary pause. They question the rush toward exploitation regulations, emphasizing the need to assess whether progressing toward exploitation is a worthwhile or prudent idea.
Although there have been limited-scale exploratory mining activities for equipment testing, full-scale commercial deep-sea mining has not commenced. However, specific national governments and mining companies are preparing to launch operations in the near future. The eventual trajectory will be shaped by the decisions made by the ISA regarding the regulation of deep-sea mining.
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