Minerals companies have been coveting the deep seabed since the 1960s. According to one industry analysis, deep-sea mining could grow from essentially zero today into a $15-billion industry by 2030.
The International Seabed Authority, established in 1994 to regulate the industry’s development, has handed out 31 exploration licences to 21 contractors so far. But it can’t yet authorise commercial deep-sea mining operations as its member states are still thrashing out the rules.
That could be about to change. In June 2021, the Pacific island state of Nauru triggered a clause of the UN Convention on the Law of the Sea demanding that the rules be finalised within two years. It is acting as a state sponsor for a private firm, The Metals Company, based in Vancouver, Canada, that wants to develop a…
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New Scientist (Digital) - 1 Issue, 23-Apr-22