The Metals Company prepares to lead deep sea mineral extraction

In recent months, The Metals Company, a Canadian firm, has taken significant steps towards being the first to extract deep-sea minerals, particularly polymetallic nodules, located in the Pacific's Clarion-Clipperton Zone. This area spans approximately 9,700 square miles and is seen as a resource-rich region. The company's CEO expressed confidence in accelerating the permitting process, aided by an executive order from former President Donald Trump, expecting operations to commence soon, potentially by the end of 2022 or in early 2023. The firm has a production vessel named the Hidden Gem, which has been prepared to initiate extraction of these nodules, containing metals such as nickel, copper, cobalt, and manganese. Earlier plans for extensive modifications to increase production capacity were deemed unnecessary as the company aims to start extraction promptly. The CEO mentioned a target of achieving full-scale production of 12 million tonnes per year by 2030-2031. Despite the ambitious plans, the deep-sea mining initiative has drawn significant criticism. At an ongoing United Nations Oceans Conference in Nice, France, world leaders, scientists, and activists have raised concerns regarding the environmental impacts of such mining activities. Criticism has also been aimed at the lack of participation from the United States, which has taken a controversial stance on ocean resource utilization, particularly under Trump’s administration. The discourse surrounding deep-sea mining is polarized, with proponents arguing the necessity of these metal resources for modern technology, and opponents highlighting the potential ecological harm to marine ecosystems. The conference aimed to develop a consensus on ocean usage and protection amidst ongoing environmental crises, aligning with global efforts for sustainability and conservation.