The secret race under the ocean: When the seabed is 'distributed' to compete for billions of dollars in profits

Mining the ocean floor has the potential to be a multi-billion dollar business. But let alone profit, mining the seabed can have a pretty serious impact on the planet people live on.

Even so, companies are still lobbying for permits, hoping to exploit the seabed as soon as possible by 2024. On the other hand, the international body set up to protect the seabed can seems more interested in paving the way for contractors than regulating them.

What's going on at the bottom of the ocean?

Billions of tons of valuable minerals such as manganese, copper, cobalt, and nickel are currently lying on the seabed. They are valuable because they are used in electronic batteries and personal devices.

The companies argue that the world needs them if countries plan to move away from fossil fuels and towards a future driven by renewable energy sources.

The minerals are found in rocks called polymetallic nodules (mixed ores of many metals on the seafloor). They are found from the bottom of the sea.

But not everyone thinks drilling to the bottom of the ocean is a good idea. "Honestly, there's no reason today to do deep-sea mining," said Sandor Mulsow, an ocean biologist. Sandor previously worked as the top environmental official at the International Seabed Authority (ISA).

Scientists are worried that mixed ore mining will upset the environment and the creatures that live on the seabed. They worry that pollution will disrupt their ability to forage, hunt and mate. This can even lead to the extinction of many species. Scientists believe that the consequences of mining will be far and wide.

Are companies allowed to mine the seabed?

Dr Aline Jaeckel, an expert in ocean management at the University of Wollongong in Australia, said: "The idea of ​​seabed mining may have appealed to many in the 1970s and 1980s, when we didn't know much about it. in terms of environmental impacts, unlike the current situation".

Back in the 1970s and 1980s, the United Nations (UN) recognized that the ocean would eventually attract explorers. So the UN has drafted a document called the UN Convention on the Law of the Sea. The Convention provides guidelines on how states should behave when accessing waters beyond national jurisdiction.

The UN also gave this open area a name, The Area. The region covers the vast seas of the Pacific, Atlantic and Indian oceans. The Convention was ratified by several countries in 1982. All agreed that the designated area should be regarded as the common heritage of mankind.

That means the open area is owned by everyone. More than a decade later, an organization called the International Seabed Authority (ISA) was established to organize, regulate and control mineral-related activities in the Area. .

They want to make sure that any future profits from mining are shared. Today, the ISA includes 167 member states and the European Union.

Mining of minerals under the sea.

A smaller group is called the ISA Technical and Legal Committee. It is the authority that makes the final decision when it comes to approving mining applications. Member States submit applications on behalf of the government. But there is a loophole in the convention that allows private companies to join as well.

Pradeep Singh, an expert in deep sea and ocean management, said that state-owned companies, private entities and individuals can sign up for a mining contract with the ISA, provided that they receive financing. assistance from a member state.

This is how a Canadian-based company can claim ownership of the Pacific Ocean. This company was known as DeepGreen Metals and is now part of Mentals Company.

The company has its ownership by securing funding from three small island nations, Kiribati, Tonga and Nauru. To qualify for funding, they must have connections to countries. The company has planned and acquired subsidiaries in the island countries.

The Nauru government says the island of 10,000 people suffers the most from climate change. That's why the island nation promotes what it sees as the solution to curbing climate change. But once mining begins, they will also benefit from the profits from the minerals on the seabed.

The island nations sponsor Metals Company. (Source: DW)

Dr Aline Jaeckel said that once the contract is signed, ISA will have a hard time shutting down, unless the company wants to. Therefore, at the present time, Metals Company has many exploration and mining contracts through many different sponsoring countries. And what we see is that one company can acquire rights in many different maritime zones.

In Nauru, Metal Company through its subsidiary Nauru Ocean Resources Incorporated. They are ready to move from exploration to mining.

The company has asked the ISA to start drafting regulations so they can start commercial mining. The ISA has 2 years to do this. The deadline is next year, and mining could begin as early as 2024, even if regulation is yet to be finalized.

So far Metal Company is the only contractor that requires a mining license. But as ISA finalized the regulations, the door of opportunity opened for other bidders to enter the race.

What problems remain?

Not only is the environmental impact unclear, many other issues need closer consideration. The first is the lack of transparency in the application process.

The Legal and Technical Commission does not need to disclose who the operator applying for the license is or even why they are licensed. All we know so far is that this committee has not rejected a single application.

Contractors must pay ISA $500,000 for each exploration application. This revenue makes a significant contribution to the ISA budget.

Another worry is that mining contractors do not follow international law. Companies like Mental Company can shirk responsibility for any environmental damage they cause. Those responsible are the countries that sponsor them.

As a result, Pacific island states may be liable under international law for such damages. As for the actual amount of damage, some small Pacific island nations may have to pay a large sum. Dr Aline Jaeckel said that in some bad cases, private companies can shrug off responsibility and "disappear".

While the ISA's website says it has a duty to protect the marine environment from the potential harms that can arise from seabed mining, the organization does not appear to be ready to make that claim outright. effective.

Dr. Aline Jaeckel added: "We are seeing companies rushing to exploit the seabed. Some push harder than others so that mining can be done as soon as possible." .

ISA official.

Although many say companies need to stop mining until the impacts are fully understood, the head of the ISA has dismissed these criticisms. In a recent LA Times article, ISA Secretary General Michael Lodge said he was not interested. He also denied reports by two top officials in the organization, saying that the ISA's environmental enforcement mission was little carried out.

Will the world move closer to abundant renewable energy or are humans accelerating the destruction of the planet? To find the real answer, people need some time to establish comprehensive regulation, time to understand the environmental impact and time to create the energy balance, for the deep sea to really benefit. beneficial to mankind.