Berliner Boersenzeitung - The Pacific island nation that wants to mine the ocean floor

EUR -
AED 4.228872
AFN 71.972068
ALL 95.909842
AMD 434.62105
ANG 2.060869
AOA 1055.922261
ARS 1612.664041
AUD 1.626132
AWG 2.075573
AZN 1.962349
BAM 1.950864
BBD 2.321646
BDT 141.447046
BGN 1.897259
BHD 0.434591
BIF 3421.857394
BMD 1.151497
BND 1.469501
BOB 7.96509
BRL 6.015764
BSD 1.152694
BTN 106.183656
BWP 15.53909
BYN 3.398317
BYR 22569.334493
BZD 2.318365
CAD 1.568033
CDF 2507.959919
CHF 0.903603
CLF 0.026455
CLP 1044.636615
CNY 7.906464
CNH 7.925002
COP 4261.550951
CRC 543.330067
CUC 1.151497
CUP 30.514661
CVE 109.985776
CZK 24.434471
DJF 205.274212
DKK 7.472194
DOP 70.41277
DZD 152.14506
EGP 60.26191
ERN 17.27245
ETB 179.932431
FJD 2.545929
FKP 0.859123
GBP 0.862707
GEL 3.126354
GGP 0.859123
GHS 12.489347
GIP 0.859123
GMD 84.64225
GNF 10105.34523
GTQ 8.839097
GYD 241.164032
HKD 9.012851
HNL 30.512273
HRK 7.534821
HTG 150.989955
HUF 389.892131
IDR 19472.95998
ILS 3.606085
IMP 0.859123
INR 106.44101
IQD 1510.053265
IRR 1522019.494717
ISK 144.385837
JEP 0.859123
JMD 180.413545
JOD 0.816388
JPY 183.355687
KES 148.831121
KGS 100.697856
KHR 4626.275212
KMF 490.537296
KPW 1036.385217
KRW 1720.37028
KWD 0.353567
KYD 0.960595
KZT 564.217802
LAK 24695.163427
LBP 103228.165394
LKR 358.385716
LRD 210.95726
LSL 19.043312
LTL 3.40007
LVL 0.696529
LYD 7.357322
MAD 10.802176
MDL 20.016878
MGA 4777.973736
MKD 61.615023
MMK 2418.166226
MNT 4111.007847
MOP 9.292973
MRU 45.808704
MUR 52.864827
MVR 17.790309
MWK 1998.877461
MXN 20.552114
MYR 4.521965
MZN 73.591629
NAD 19.042487
NGN 1603.874006
NIO 42.424139
NOK 11.142746
NPR 169.893849
NZD 1.964862
OMR 0.442747
PAB 1.152724
PEN 3.944657
PGK 4.971379
PHP 68.561306
PKR 322.020359
PLN 4.26854
PYG 7463.1826
QAR 4.202604
RON 5.093645
RSD 117.390523
RUB 91.720314
RWF 1685.280067
SAR 4.320981
SBD 9.264001
SCR 15.257101
SDG 692.049195
SEK 10.754691
SGD 1.472235
SHP 0.863921
SLE 28.314872
SLL 24146.308417
SOS 657.650391
SRD 43.027403
STD 23833.655954
STN 24.438382
SVC 10.086393
SYP 127.674885
SZL 19.048221
THB 37.022348
TJS 11.04889
TMT 4.030238
TND 3.388926
TOP 2.772528
TRY 50.798269
TTD 7.822277
TWD 36.760144
TZS 2993.891239
UAH 51.039225
UGX 4315.120012
USD 1.151497
UYU 46.092982
UZS 13988.486971
VES 503.96085
VND 30255.574683
VUV 137.716839
WST 3.12565
XAF 654.298751
XAG 0.01351
XAU 0.000224
XCD 3.111977
XCG 2.077516
XDR 0.812706
XOF 654.335594
XPF 119.331742
YER 274.741289
ZAR 19.283306
ZMK 10364.857819
ZMW 22.392028
ZWL 370.781454
  • RBGPF

    0.1000

    82.5

    +0.12%

  • RYCEF

    -0.5500

    16.95

    -3.24%

  • BTI

    0.4700

    59.63

    +0.79%

  • CMSC

    -0.1250

    23.115

    -0.54%

  • VOD

    -0.0200

    14.38

    -0.14%

  • RELX

    -0.2850

    34.475

    -0.83%

  • BP

    0.7450

    42.305

    +1.76%

  • GSK

    -1.0150

    54.135

    -1.87%

  • RIO

    -0.4600

    91.62

    -0.5%

  • AZN

    -1.4100

    191.9

    -0.73%

  • BCE

    -0.0950

    25.795

    -0.37%

  • CMSD

    -0.0850

    23.065

    -0.37%

  • NGG

    1.9200

    91.61

    +2.1%

  • BCC

    -1.9400

    69.96

    -2.77%

  • JRI

    0.1400

    12.99

    +1.08%

The Pacific island nation that wants to mine the ocean floor
The Pacific island nation that wants to mine the ocean floor / Photo: William WEST - AFP

The Pacific island nation that wants to mine the ocean floor

A 1,000-tonne ship is exploring the far-flung South Pacific for riches buried beneath the waves, spearheading efforts to dredge the tropical waters for industrial deep-sea mining.

Text size:

Fringed by sparkling lagoons and palm-shaded beaches, Pacific nation the Cook Islands has opened its vast ocean territory for mining exploration.

Research vessels roam the seas searching for deposits of battery metals, rare earths and critical minerals that litter the deep ocean's abyssal plains.

The frontier industry is likened by some to a modern-day gold rush, and decried by others as environmental "madness".

AFP visited the sunburst-orange MV Anuanua Moana at the Cook Islands' sleepy port of Avatiu, where it loaded supplies before setting sail for the archipelago's outer reaches.

"The resource in our field is probably in the order of about US$4 billion in potential value," said chief executive Hans Smit from Moana Minerals, which converted the former supply ship into a deepwater research vessel.

It is fitted with chemistry labs, sonar arrays and sensors used to probe the seabed for coveted metals.

For two years it has sailed the Cook Islands, halfway between New Zealand and Hawaii, gathering data to convince regulators that deep-sea mining is safe.

While exploration is far advanced, no company has started mining on a commercial scale.

- Big business -

"I want to be mining before 2030," Smit said from the ship's tower, as whirring cranes loaded wooden crates of heavy gear below.

"Absolutely, I think that we can."

Large tracts of seabed around the Cook Islands are carpeted in polymetallic nodules, misshapen black globes encrusted with cobalt, nickel, manganese and other coveted metals.

Demand has been driven by the rise of electric vehicles, rechargeable batteries and durable alloys used in everything from construction to medicine.

The Cook Islands lay claim to one of just four major nodule deposits globally.

It is "the world's largest and richest resource of polymetallic nodules within a sovereign territory", according to Australia's University of Queensland.

Moana Minerals -- a subsidiary of a Texas-based company -- owns the rights to explore 20,000 square kilometres (7,500 square miles) within the Cook Islands' exclusive economic zone.

"If we put one mining ship on there, and we started producing metals, we will be one of the largest mines around," said Smit.

- 'Belongs to us' -

Few countries are as reliant on the ocean as the Cook Islands, a seafaring nation of some 17,000 people scattered across a chain of volcanic isles and coral atolls.

Pristine lagoons lure wealthy tourists that prop-up the economy, fridges are stocked with fish plucked from vibrant reefs, and local myths teach children to revere the sea.

Many Cook Islanders fear deep-sea mining could taint their precious "moana", or ocean, forever.

"I have seen the ship in the harbour," said tour guide Ngametua Mamanu, 55.

"Why do we need the mining stuff to destroy the oceans?"

Retiree Ana Walker, 74, feared foreign interests had come to plunder her island home.

"We think that these people are coming over to make money and to leave the mess with us."

Deep-sea mining companies tout the need for critical minerals to make electric vehicles, solar panels and other "green" technologies.

The idea holds some allure in a place like the Cook Islands, where climate change is linked to droughts, destructive cyclones and rising seas.

"If all goes well, there is good that can come out of it. Financially," said third-generation pearl farmer James Kora, 31.

"But it relies on how well we manage all those minerals. If the science says it's safe."

- 'Guinea pigs' -

Marine biologist Teina Rongo squinted into the sunlight as his small boat motored past the Anuanua Moana, an emblem of an industry he views with deep distrust.

"We were never about exploring the bottom of the ocean, because our ancestors believed it is a place of the gods," said Rongo.

"We don't belong there."

Deep-sea mining companies are still figuring the best way to retrieve nodules that can lie five kilometres (three miles) or more beneath the waves.

Most focus on robotic harvesting machines, which scrape up nodules as they crawl the ocean floor.

Critics fear mining will smother marine life with plumes of waste, and that the alien noise of heavy machinery will disrupt oceanic migrations.

Environmentalist Alanna Smith said researchers knew very little about the deep ocean.

"We'd really be the guinea pigs of this industry, going first in.

"It's a risky, risky move."

- Powerful friends -

A US-backed research expedition in the 1950s was the first to discover the "enormous fields" of polymetallic nodules in the South Pacific.

Waves of Japanese, French, American and Russian ships sailed the Cook Islands in the following decades to map this trove.

But deep-sea mining was largely a fringe idea until around 2018, when the burgeoning electric vehicle industry sent metal prices soaring.

Mining companies are now vying to exploit the world's four major nodule fields -- three in international waters, and the fourth in the Cook Islands.

The International Seabed Authority meets this month to mull rules that could pave the way for mining in international waters.

Although the Cook Islands can mine its territory without the authority's approval, it still has a stake in the decision.

The Cook Islands also own one of 17 contracts to hunt for nodules in the international waters of the Clarion-Clipperton Zone, halfway between Mexico and Hawaii.

So far, the Cook Islands has said its approach -- even in its own waters -- would be closely "aligned" with the authority's rules.

But it remains unclear if it will proceed without those regulations.

"We're not setting time frames in terms of when we want to get this started," said Edward Herman, from the Cook Islands' Seabed Minerals Authority.

"I think the time frames will be determined based on what the research and the science and the data tells us."

Many of the Cook Islands' South Pacific neighbours want to see deep-sea mining banned.

French President Emmanuel Macron delivered a scathing indictment in June, saying the "predatory" industry was environmental "madness".

But the Cook Islands has powerful friends.

It signed an agreement with China earlier this year for the "exploration and research of seabed mineral resources".

"There was a lot of noise," said Herman, referencing the backlash over the China deal.

"And obviously there's a lot of interest... whenever China engages with anyone in the Pacific.

"And we understand, we accept it, and we will continue."

(G.Gruner--BBZ)