A potential new global industry is emerging. Several countries worldwide are preparing for the deep dive. The demand for critical minerals might be greater than what land-based mining and recycling can provide in the coming years.
Further, the value chains are highly geographically concentrated, making them vulnerable to political instability, geopolitical risks, natural disasters, and possible export restrictions.
The race towards the production of deep-sea minerals has started. In Norway, the Norwegian Petroleum Directorate has released a resource assessment, and the government has put forward a parliamentary proposal on opening the extended Norwegian Continental Shelf for mineral activities.
Internationally, companies are positioning themselves in the Clarion-Clipperton Zone in the Pacific Ocean as the International Seabed Authority is developing exploitation regulations. It is expected that ISA will adopt the regulations in 2025.
In the Cook Islands, three companies were awarded exploration licenses last year, and this year, the island nation released a mineral resource estimate for their polymetallic nodule field.
The knowledge and technology building toward exploration and production are accelerating. New ecosystems are forming.
At the 3rd annual conference on Deep Sea Minerals in Bergen, Norway in December, companies, institutions, academia, and other stakeholders will network, share, and learn from each other.
Topics will include technologies for exploration, exploitation and processing, environmental assessment and monitoring, public perception/license to operate, showcases, methodologies, and workflows.
More information at: deepseaminerals.net