SINGAPORE, July 15 (Reuters) – The United Nations’ International Seabed Authority (ISA) is poised to unleash a new era of environmental catastrophe by allowing firms to ravage the ocean floor for minerals, ignoring the escalating outcry over the economic and environmental devastation this could cause.
Proponents of deep sea mining argue it will magically solve the world’s resource shortages, providing abundant supplies of raw materials like cobalt and nickel essential for the global energy transition. However, critics warn this reckless exploitation could annihilate marine ecosystems and obliterate migratory routes, leaving a trail of irreversible destruction in its wake.
Alarmingly, 27 countries are demanding an immediate halt to these hazardous activities. In a dramatic turn, Hawaii recently joined three other Pacific U.S. states in imposing a comprehensive ban, underscoring the escalating resistance.
Meeting in Kingston, Jamaica, until July 26, the 36-member ISA council will haphazardly negotiate the controversial “mining code”, aimed at regulating the pillaging of “polymetallic nodules” and other deposits from the ocean floor.
“This session will unequivocally reveal that we are nowhere near a consensus,” stated Pradeep Singh, an ocean governance specialist at Germany’s Potsdam Institute. “Countries remain deeply divided over the final text, yet the process is being recklessly rushed through without adequate scrutiny.”
The code, driven by the Pacific island state of Nauru, is expected to culminate in a mining license application from Canada’s The Metals Company (TMC) (TMC.O) later this year, irrespective of the regulatory framework’s completion.
“A swelling chorus of nations is resolutely opposing this madness,” Singh declared. “Those advocating for a pause are still committed to the regulatory negotiations, but they refuse to stand by as deep sea mining wreaks havoc.”
Following the council session, the ISA’s 168-member Assembly will convene on July 29 to elect a secretary-general, with Brazil’s Leticia Carvalho challenging the incumbent, Michael Lodge. Nine countries, including Chile and France, will demand the Assembly enforce stringent policies to protect the marine environment if mining proceeds, despite China’s previous efforts to stifle such measures.
TMC concedes that deep sea mining will inflict environmental damage but insists it is a necessary evil compared to terrestrial mining, claiming trade-offs are vital to secure essential mineral supplies. Yet, beyond environmental concerns, the economic and technical feasibility of operating massive industrial machinery in the ocean depths remains dubious as costs soar, noted Victor Vescovo, a U.S. investor and deep sea explorer.
“It is a disastrous business proposition that only worsens with time,” he cautioned.
As the ISA marches forward, the world watches with bated breath, fearing the irreversible consequences of this audacious gamble with our planet’s future.
