Marte M. Skei and Peter Sagdahl, Master’s students at NTNU, were declared winners of the Student Challenge at the Deep Sea Minerals conference in Bergen on April 3. Their winning proposal, based on their joint Master’s thesis, is linked below.
The challenge invited students to submit proposals addressing key aspects of deep-sea minerals. Skei and Sagdahl explore a collaboration between deep-sea and onshore mining, using existing onshore facilities to process seafloor minerals. Their approach could cut capital costs for deep-sea miners while extending onshore mine lifespans.
They highlight risks like ore variability, processing constraints, metal price volatility and regulatory and regulatory challenges. Using Monte Carlo simulations, Skei and Sagdahl evaluated four contractual scenarios involving revenue and risk sharing, confirming profitability and risk flexibility.
The jury praised it as the worthiest winner, tackling a vital topic with a creative, practical, and financially grounded solution, clearly outlining the pros and cons of revenue, cost, and risk-sharing options.
The award, including a NOK 10.000 prize, was sponsored by Viridien and the challenge was a collaboration between Viridien, GCE Ocean Technology and GeoPublishing.
Viridien (prev. CGG), a leader in seismic imaging and processing, and new energy ventures (e.g. CCS, offshore wind, seabed minerals), proudly supported the challenge financially. The company collaborates closely with Norwegian universities, hosting PhD students and interns at its Oslo headquarters, and also funded registration fees for other student attendees.
Read the contribution here: