Podcast Summary
The transition to a decarbonized economy requires significant mineral extraction, but raises concerns over availability, cost, and environmental impact.: The energy transition necessitates extracting large quantities of minerals, but the seabed's vast resources pose risks to ecosystems and require careful balance.
The transition to a decarbonized economy will require a significant increase in the extraction of various minerals and metals, such as nickel, cobalt, lithium, and copper. However, this shift raises complex questions and concerns, particularly regarding the availability and cost-effectiveness of these resources, as well as the potential environmental impact of extracting them, especially from the seabed. The resource potential is vast, with areas like the Clarion Clifton zone in the Pacific Ocean estimated to contain more nickel than the entire global terrestrial nickel resource. Yet, the ecosystems in these areas are largely unknown, and the extraction process may pose significant risks. It's crucial to strike a balance between meeting the demands of the energy transition and minimizing the negative environmental consequences. The debate around seabed mining is ongoing, and it's essential to continue exploring solutions that maximize the benefits while minimizing the risks.
Untapped Resource of Essential Metals for the Green Economy: Polymetallic Nodules,: The Clarion Clipperton zone holds a significant untapped resource of polymetallic nodules, rich in nickel, cobalt, and copper, which could meet the demand for essential metals in the green economy.
The world's supply of essential metals for the green economy, such as nickel, cobalt, and copper, is limited due to geopolitical and environmental challenges. However, a significant untapped resource exists in the form of polymetallic nodules on the seabed, particularly in the Clarion Clipperton zone between Mexico and Hawaii. This resource is estimated to contain more nickel than the entire global terrestrial nickel resource. Polymetallic nodules are not connected to the seabed and can be extracted as they are. They contain multiple metals, including nickel, cobalt, copper, and some rare earths. There are three main types of mineralogies on the seabed: polymetallic nodules, seafloor massive sulfides, and cobalt ferromanganese crusts. Polymetallic nodules have a higher mineralogy of nickel in the Clarion Clipperton zone, while the Cook Islands region has a slightly higher cobalt content. Understanding the location and mineral composition of these deposits will be crucial in determining which ones to target based on market trends and return on investment. Polymetallic nodules are a promising source of these essential metals for the green economy, but it's important to consider the environmental impacts and the technology required for their extraction.
Economic viability of seabed mining: The economic feasibility of seabed mining depends on factors beyond mineral grade, including extraction costs, feasibility, and utilization rates.
While seabed resources have high concentrations of minerals like nickel, cobalt, copper, and rare earth elements, their economic viability depends on various factors beyond grade, such as extraction costs and feasibility. The economics of seabed mining are still being debated, but it's speculated that some seabed resources might be in the mid to lower end of the cost curve, while others could be more expensive. One significant advantage of seabed mining is lower rehabilitation liabilities compared to terrestrial mining. However, lower utilization rates in seabed mining could negatively impact economics. As the mining industry continues to explore and develop seabed resources, increasing utilization rates will be crucial for economic success.
Determining Feasibility and Economics of Seabed Mining: The International Seabed Authority plays a crucial role in governing seabed mining in international waters, balancing exploitation and protection
A resource becomes a reserve only after it has been established that it can be extracted and processed in a feasible and economically viable manner. This involves determining the cost of extraction and processing, as well as securing necessary permits. The International Seabed Authority, established by the United Nations, plays a key role in governing seabed mining in international waters, acting as both the mining department and the environmental department. The debate around seabed mining centers on whether it should be allowed at all, and if so, how to minimize its environmental impact. The process of determining whether to allow seabed mining is complex, with the International Seabed Authority serving as the governing body responsible for both exploitation and protection.
ISA Decision on Seabed Mining Regulations Nears: ISA's approval of mining regulations could enable seabed mining projects, but failure to approve would halt all mining activities.
The International Seabed Authority (ISA) is nearing a decision on approving exploitation regulations for seabed mining, which could allow the consideration of mining projects in the future. This decision was triggered by Nauru, a sponsoring state of a seabed mining company, two years ago, initiating the "2-year rule" under the United Nations Convention on the Law of the Sea. The ISA has been working on the regulations since around 2017, but the 2-year rule has accelerated the process. If the regulations are approved, companies will be able to submit applications for mining projects, which will then be assessed on economic and environmental merits. However, if the regulations are not approved, no mining will be permitted. This decision could significantly impact the seabed mining industry.
Considering Deep Sea Mining Applications in the International Seabed Authority: The ISA still requires consideration and provisional approval of deep sea mining applications despite the 2-year rule's expiration. However, the process is not clearly outlined and there are concerns about potential harm to deep-sea ecosystems, leading to calls for caution or a moratorium.
Despite the expiration of the 2-year rule for deep sea mining applications in the International Seabed Authority (ISA), there is still a requirement for the ISA to consider and provisionally approve applications. However, the process for considering these applications is not clearly outlined in the Convention, unlike the regulations for mining within a nation's Exclusive Economic Zone. The main argument against deep sea mining is the potential significant and poorly understood impacts on deep-sea ecosystems. The precautionary principle, which emphasizes taking precautions before understanding the impacts, is a valid consideration. The ISA has been a subject of intense debate, with numerous countries and companies calling for a pause or moratorium on deep sea mining due to these concerns. The deep-sea ecosystem's lack of understanding implies potential damage to unknown populations and ecosystems, making it crucial to approach this issue with caution.
Understanding Deep-Sea Ecosystems for Mining: Baseline studies identify environmental values, minimize disturbance, and robust science, regulations, and enforcement are crucial for deep-sea mining, as vast unknowns persist
When it comes to deep-sea mining, understanding and protecting the complex ecosystems and their valuable species is crucial. Baseline studies are essential to identify the environmental values and interconnections within deep-sea ecosystems. Engineering solutions that minimize disturbance or destruction of these values is key, with strategies such as offset areas and minimizing sediment disturbance. However, the uncertainty of deep-sea biodiversity makes this challenging, requiring robust science, supportive regulations, and enforcement. The species accumulation curve in the deep sea not yet flattening out highlights the vast unknowns, emphasizing the need for caution and innovation in deep-sea mining practices.
Deep-sea ecosystem protection during mining operations: Effective offsetting requires understanding deep-sea connectivity and enforcing offset zones, while minimizing sediment plumes is crucial for mining technologies. Both mining companies and regulatory bodies need to invest in scientific research to ensure protective measures work.
Effective protection of deep-sea ecosystems during mining operations is a complex challenge. Theoretically, offsetting, where a mining company sets aside undisturbed areas to make up for disturbances in others, could work. However, enforcing these offset zones and understanding deep-sea connectivity are significant hurdles. Connectivity in the deep ocean is more complex than on land, and larval dispersion, for instance, may require offset zones to be closer to protect ecosystems. Regarding mining technologies, several methods are proposed for extracting polymetallic nodules, including dredge systems. Companies are focusing on minimizing sediment plumes, but more research is needed to ensure that offsets function effectively and protect deep-sea ecosystems. Ultimately, both mining companies and regulatory bodies must invest in understanding the science behind these protective measures to ensure their success.
Minimizing Environmental Impact in Deep-Sea Mining: Companies use selective harvesting and large offset areas to minimize environmental impact in deep-sea mining. Regulatory bodies only permit economically viable mining activities to ensure industry sustainability.
Companies involved in deep-sea mining are striving to minimize the environmental impact by using advanced technologies and techniques, such as selective harvesting, which aim to leave the sediment undisturbed and reduce plumes. These companies are also exploring large offset areas to limit the percentage of their mining lease or contract area that is disturbed. While the jury is still out on which technologies will be economically viable, the regulatory bodies are unlikely to permit mining activities that are not feasible from an economic standpoint, as it benefits them economically and ensures the industry's sustainability. The ultimate goal is to find a balance between economic gain and environmental preservation.
Ensuring responsible mining through permitting and monitoring: Robust permitting processes and effective monitoring mechanisms are crucial for responsible mining practices, especially in challenging environments where ecosystem impacts can be difficult to manage.
Permitting is a crucial aspect of developing engineering projects, including those in the mining industry, as it ensures responsible investment and the management of environmental impacts in a responsible way. However, the enforcement and ongoing monitoring of potential ecosystem impacts, especially in challenging environments like the deep sea, pose significant challenges. To address this, it's essential to have a robust and transparent monitoring mechanism in place that can hold companies accountable for their environmental data and interpret it to identify any potential issues. Additionally, there must be a clear plan for addressing any discrepancies between permitted impacts and actual impacts. Despite these challenges, having strong regulations and effective enforcement mechanisms are vital for ensuring sustainable and responsible mining practices.
Regulations and enforcement crucial for preventing deep seabed mining: Effective regulations and enforcement are necessary to prevent deep seabed mining, with mechanisms to stop mining and on-site presence. Enforcement challenges from fishing industry insights, mining activity expected in EEZs, and investor stewardship driving sustainability.
Effective regulation and enforcement are crucial for preventing mining activities in the deep seabed. Regulations must include mechanisms for regulators to stop mining, and the physical ability to enforce those regulations through on-site presence is essential. The international fishing industry provides valuable insights into the challenges of enforcement in heavily regulated industries. In the next 5 to 10 years, mining activity is expected to begin in Exclusive Economic Zones due to stronger enforcement capabilities. Additionally, investor stewardship may play a significant role in driving sustainability and higher standards in the industry. Companies may demand and enforce stricter sustainability measures beyond regulatory requirements, providing transparency and accountability to the public.
Discussing the Uncertain Future of Seabed Mineral Mining: Experts predict commercial-scale seabed mineral mining may not start until 2028, with location and minerals still uncertain. Supported by Prelude Ventures, a venture capital firm addressing climate change.
While the first claims of commercial-scale seabed mineral mining were made around a decade ago, experts like Renee Grogan estimate that it may not become a reality until around 2028. The specific location and minerals involved in this mining are still uncertain. Renee Grogan, a deep sea mining expert and co-founder of Impossible Metals, discussed these complexities on the Catalyst podcast. This episode was produced by Daniel Waldorf, with mixing by Roy Campanella and Sean Marquand, and a theme song by Sean Marquand. The Catalyst podcast is a co-production of Postscript Media and Canary Media, and is supported by Prelude Ventures, a venture capital firm focused on addressing climate change across various sectors. For more information on the topics discussed in this episode, visit canarymedia.com.
