Berliner Boersenzeitung - Deep sea mining opponents hope to score regulatory win

EUR -
AED 4.058102
AFN 70.719765
ALL 90.384417
AMD 398.36238
ANG 1.978414
AOA 1014.386836
ARS 1707.478719
AUD 1.623787
AWG 1.990652
AZN 1.873528
BAM 1.948942
BBD 2.226327
BDT 137.490566
BGN 1.955791
BHD 0.416803
BIF 3317.753008
BMD 1.104997
BND 1.42054
BOB 12.938823
BRL 6.234618
BSD 1.105341
BTN 103.901223
BWP 15.335455
BYN 3.330272
BYR 21657.938036
BZD 2.223138
CAD 1.576488
CDF 2558.068126
CHF 0.923893
CLF 0.027928
CLP 1099.151358
CNY 7.371047
CNH 7.373528
COP 3664.843565
CRC 499.057511
CUC 1.104997
CUP 26.529491
CVE 110.748314
CZK 24.380606
DJF 196.380167
DKK 7.475337
DOP 67.039992
DZD 151.339209
EGP 59.045067
ERN 16.574953
ETB 178.017447
FJD 2.511987
FKP 0.832097
GBP 0.835206
GEL 2.869029
GGP 0.832097
GHS 12.956105
GIP 0.832097
GMD 81.769846
GNF 9790.271815
GTQ 8.446509
GYD 231.26149
HKD 8.668513
HNL 29.723948
HRK 7.534575
HTG 144.834303
HUF 365.316416
IDR 20152.932342
ILS 3.527702
IMP 0.832097
INR 103.919041
IQD 1675.749024
IRR 2114411.450856
ISK 136.574282
JEP 0.832097
JMD 175.103861
JOD 0.783425
JPY 176.6354
KES 143.649934
KGS 96.630762
KHR 4508.386701
KMF 492.82867
KPW 994.497559
KRW 1476.242652
KWD 0.34224
KYD 0.921184
KZT 490.955799
LAK 24903.866285
LBP 98952.467328
LKR 367.596515
LRD 187.849372
LSL 18.424304
LTL 3.262768
LVL 0.668401
LYD 7.121693
MAD 10.887985
MDL 20.162601
MGA 5075.250477
MKD 61.522532
MMK 2320.188832
MNT 3983.407256
MOP 8.930519
MRU 44.705112
MUR 52.531559
MVR 17.017367
MWK 1916.807354
MXN 20.541779
MYR 4.508282
MZN 70.608675
NAD 18.424304
NGN 1485.944306
NIO 40.67797
NOK 10.572997
NPR 166.241558
NZD 1.994193
OMR 0.424871
PAB 1.10544
PEN 3.768941
PGK 5.042349
PHP 70.553663
PKR 305.644129
PLN 4.40529
PYG 6852.106473
QAR 4.029549
RON 5.346637
RSD 117.598211
RUB 91.495028
RWF 1632.080331
SAR 4.171191
SBD 8.947489
SCR 15.36386
SDG 664.654391
SEK 11.088477
SGD 1.422247
SHP 0.827992
SLE 25.29583
SLL 23171.190835
SOS 631.694402
SRD 41.441795
STD 22871.203579
STN 24.414754
SVC 9.671967
SYP 14367.168628
SZL 18.411714
THB 37.437547
TJS 10.19715
TMT 3.867489
TND 3.327193
TOP 2.660568
TRY 55.653392
TTD 7.508783
TWD 36.404894
TZS 2942.202134
UAH 50.229466
UGX 4549.116492
USD 1.104997
UYU 44.803768
UZS 13259.961874
VES 995.039155
VND 28375.766316
VUV 132.537587
WST 3.080509
XAF 655.957
XAG 0.022007
XAU 0.000284373768
XCD 2.98631
XCG 1.992144
XDR 0.78129
XOF 655.957
XPF 119.331742
YER 261.328911
ZAR 18.52441
ZMK 9946.302328
ZMW 22.57717
ZWL 355.808531
SSP 6394.090189
MXV 2.307468
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Deep sea mining opponents hope to score regulatory win
Deep sea mining opponents hope to score regulatory win / Photo: Handout - National Oceanography Centre / Smartex project (NERC)/AFP

Deep sea mining opponents hope to score regulatory win

Opponents of deep sea mining hope to take a potentially significant step toward an international moratorium on Friday, as the sector's top international authority considers what could snowball into a key regulatory text.

Text size:

For years, countries opposed to such mining -- which would deliver minerals key to the green transition but with a potentially high environmental cost -- have failed to get the International Seabed Authority (ISA) to take up any debate on the subject, blocked by those supporting deep sea mining.

But member states convening since Monday at this week's ISA meeting in Kingston, Jamaica, are due to consider adopting a measure calling for a "dialogue" toward "the development of a general policy... for the protection and preservation of the marine environment."

Deep sea mining opponents hope this could eventually lead to a moratorium.

"Momentum has never been stronger for protecting the oceans against deep sea mining," said Louisa Casson, a campaigner with the international NGO Greenpeace.

Deep sea mining in international waters involves scraping the ocean floor for minerals like nickel, cobalt and copper, crucial for renewable energy technology.

Under the UN Convention on the Law of the Sea (UNCLOS), the ISA is responsible both for protecting the seabed in areas beyond national jurisdiction and for overseeing any exploration or exploitation of resources in those zones.

NGOs and scientists warn that deep-sea mining could damage habitats and harm species that are little understood, but are potentially important to the food chain.

In addition, they point to the risk of disrupting the ocean's capacity to absorb carbon emitted by human activities, and the noise that could disturb species such as whales.

- Looming deadline -

Mining has not yet taken place beyond the experimental and exploratory stage. The ISA has been drawing up commercial exploitation rules for a decade.

However, multiple countries have lined up exploratory contracts and pursued tests.

And Nauru, a tiny Pacific island country, has successfully pushed the ISA to allow exploitation applications to be submitted, even in the absence of a mining code. The ISA's 36-member council is aiming to adopt regulations in 2025.

The clock is ticking as Canada's The Metals Company (TMC) -- an industry giant -- and Nauru Ocean Resources Inc (NORI), its subsidiary, move forward with plans to harvest mineral-rich "polymetallic nodules" in the Clarion-Clipperton fracture zone (CCZ) in the Pacific.

An application from the Nauru government on behalf of NORI to start commercial mining operations is being prepared for submission to the ISA.

"The responsible development of deep sea minerals is not just an opportunity for Nauru and other small island developing states," Nauru President David Adeang said earlier this week. "It is a necessity for our survival in a rapidly changing world."

More than 30 countries have called for a moratorium on deep sea mining, including France, Canada, Chile, Brazil and the United Kingdom.

However, they're a long way from securing a majority at the 168-member ISA, and the text being considered doesn't call explicitly for a stoppage.

Adding to environmentalists' concerns was a new study, published last month, showing that the mineral-rich nodules that mining companies wish to harvest from the ocean floor produce oxygen.

The groundbreaking study was the first instance of the production of oxygen by non-living sources, and without sunlight.

Elsewhere, the ISA voted Friday to replace secretary general Michael Lodge, of Britain, with Brazil's Leticia Carvalho.

Lodge had been criticized for his pro-business stances, and was also under fire after a New York Times investigation accused the ISA's leadership of misusing funds -- claims that the ISA Secretariat has denied.

"Rebuilding trust is the fundamental aspect," Carvalho, who takes office in January, recently told environmental news site Mongabay.

(A.Berg--BBZ)