Pacific Seabed Mining Delayed as International Agency Finalizes Rules
The effort to postpone the start has been led by nations including Costa Rica, Chile and France. The three nations urged other countries that are members of the Seabed Authority’s governing council to agree that no permit authorizing mining in international waters should be granted until regulations are finalized. This will now not likely take place until 2025 at the earliest, the body agreed.
“We are on the side of the ocean,” said Gina Guillén Grillo, Costa Rica’s representative to the Seabed Authority who has helped lead the opposition to seabed mining. “We know there is not enough science. To start right now would be a disaster.”
Gerard Barron, the Metals Company’s chief executive, said he remained optimistic that his company and its partner, Nauru, would secure the approval they needed to start the effort within the next several years.
While the Seabed Authority continues its work to determine environmental standards, as well as a royalty rate that will be paid by the mining contractors, among other matters, the Metals Company will continue to lobby other nations, Mr. Barron said. The company will aim to convince them that ocean floor mining is better for the environment than surface mining in places like Indonesia or Congo, where battery metals such as nickel, cobalt and copper are now being produced.
“Hopefully, we can keep the timetable on track,” Mr. Barron said.
The Metals Company and Nauru, along with the delegation from China, which also has been aggressively pursuing seabed mining, pushed unsuccessfully at last week’s meeting for the Seabed Authority to set a goal of finalizing the regulations by 2024.