Norway poised to open vast ocean area to controversial deep-sea mining

Energy
Tuesday, January 9th, 2024 3:16 pm EDT

Key Points

  • Norway’s Parliamentary Approval for Deep-Sea Mining Proposal: Norway is on the verge of becoming one of the first countries globally to endorse deep-sea mining, with lawmakers expected to approve the government’s proposal in a parliamentary vote. The proposal aims to open Norwegian waters, specifically near the Svalbard archipelago, for commercial-scale deep-sea mining. The cross-party support received by the government’s plans late last year indicates a smooth passage for the vote, despite global controversy and opposition.
  • Advocates and Critics of Deep-Sea Mining: Advocates argue that extracting metals and minerals, such as cobalt, nickel, copper, and manganese, from the ocean’s seabed is crucial for a global transition away from fossil fuels. They contend that deep-sea mining is less environmentally damaging than land-based mining and is necessary for securing critical minerals essential for electric vehicle batteries, wind turbines, and solar panels. On the contrary, critics, including the Environmental Justice Foundation, label deep-sea mining as “extremely destructive,” emphasizing the significant environmental and economic risks associated with the practice. Scientists also caution that the full environmental impacts are challenging to predict.
  • Norway’s Proposal and Global Opposition: Norway’s proposal sets the stage for companies to apply for licenses to mine critical minerals in its national waters, estimated to cover approximately 280,000 square kilometers. The government’s intention is not an immediate commencement of drilling; instead, companies would need to submit proposals for licenses, subject to approval on a case-by-case basis in parliament. If approved, Norway’s move would put it at odds with the UK and the European Commission, both advocating a temporary ban on deep-sea mining due to environmental concerns. The Norway Environment Agency has criticized the government’s impact assessment, and 120 EU lawmakers have written an open letter urging the rejection of the project. Additionally, over 800 marine science and policy experts globally call for a pause in deep-sea mining, emphasizing the lack of knowledge about deep-sea habitats and biodiversity and the need for more robust research to understand the potential risks.

Norway is on the verge of becoming one of the first nations to endorse the contentious practice of deep-sea mining, with lawmakers anticipated to greenlight the government’s proposal in a parliamentary vote. The move aims to open Norwegian waters for commercial-scale deep-sea mining, tapping into potato-sized nodules on the ocean’s seabed containing critical minerals like cobalt, nickel, copper, and manganese, essential for electric vehicle batteries, wind turbines, and solar panels. Advocates argue that deep-sea mining is crucial for a global shift away from fossil fuels and is less environmentally harmful than land-based mining. However, critics, including the Environmental Justice Foundation, label it “extremely destructive,” emphasizing environmental and economic risks. Norway’s proposal covers national waters near the Svalbard archipelago, estimated to span 280,000 square kilometers, with the government intending to assess mining licenses on a case-by-case basis. The approval, if granted, puts Norway at odds with the UK and the European Commission, both advocating a temporary ban due to environmental concerns. The Norway Environment Agency and EU lawmakers have criticized the government’s impact assessment, while over 800 global marine science and policy experts call for a pause in deep-sea mining, citing inadequate knowledge about deep-sea habitats and biodiversity.

For the full original article on CNBC, please click here: https://www.cnbc.com/2024/01/09/norway-poised-to-open-vast-ocean-area-to-controversial-deep-sea-mining.html