In the first week of August, the International Seabed Authority (ISA) elected Leticia Carvalho as the Secretary-General for the organization, starting the four-year tenure on January 1st, 2025.
The Brazilian citizen, presently employed at a United Nations programme, may significantly influence the timing of the long-awaited mining code currently being developed by the ISA. ISA and its member states (168 plus the European Union) have been working on drafting regulations and frameworks for full-scale mining in international waters, also known as “the Area”, since 2011.
There was optimism that this work would be completed last summer, following a “legal trigger” initiated by the Republic of Nauru which called for finalization – or accept applications for mining plans under current regulations – within two years. During a Council meeting in 2023, the executive body of the International Seabed Authority (ISA) postponed its target to 2025. Now, that goal is seemingly less likely to be reached.
According to Mining.com, citing a Bloomberg interview, Carvalho believes that several more years of negotiations may still be needed to ensure that the environment is protected if or when mining operations in the deep sea commence.
She told Bloomberg that there is a big amount of work to be done and that it is unlikely that this will be accomplished by the current deadline. Her top priorities as a Secretary-General will be transparency and accountability.
The current Secretary-General of ISA, Michael Lodge, is finishing his second term. ISA expressed its gratitude and recognition for Lodge’s transformative leadership and dedicated service: “Under his stewardship, ISA has made significant strides in promoting good governance and transparency, enhanced organizational performance, and delivering building blocks for the sustainable management of deep-sea mineral resources for the benefit of all humanity, including through the advancement of scientific research in the deep seabed area,” ISA declared.
However, according to Mining.com, Lodge is said to have aggressively pushed for the completion of regulations, and he drew scrutiny for his ties to the mining companies regulated by ISA.
Additionally, there have been accusations that key supporters of the current Secretary-General tried to bribe Carvalho to drop out of the election in exchange for a top position in the organization. Even though the election results may be seen as unfavourable by the companies exploring the areas managed by ISA, moving towards more sustainable seabed resource management and promoting good governance and transparency will ultimately benefit all parties.
Some ISA member states have called for a moratorium – a pause – on deep-sea mining, but Carvalho expressed that it is not appropriate for the Secretary-General to take a position on the issue and that the topic is currently not on the ISA agenda.
The Metals Company (TMC), a prominent explorer in the Area, has announced its plan to apply for a mining license in 2024, regardless of the development of the regulations. Their chief executive officer, Gerard Barron, told Bloomberg that he has met Carvalho several times and believes “she can bring harmony to the ISA at a time when it could really do with some”. ISA adopted regulations for exploration more than 10 years ago, and they have granted over 30 exploration contracts.
The most prolific part of the Area is the Clarion-Clipperton Zone (CCZ), located roughly between Mexico and Hawaii. CCZ is considered the largest nodule field in the world, where a handful of states are sponsoring companies performing exploration activities while awaiting the ISA to complete the mining code. Two Norwegian companies are involved in the CCZ: Loke currently holds two licenses after they acquired UK Seabed Resources, while Green Minerals has a Memorandum of Understanding to partner in on one license.
The billion-dollar question of whether the mining code completion will happen in 2025 remains open but seems less likely with Lodge stepping down.
Deep Sea Minerals 2025
Bergen
April 1-3, 2025