(p. B11) Companies could start mining the ocean floor for metals used to make electric-vehicle batteries within the next year, a development that could occur despite broad concerns about the environmental impact of deep-sea mining.
The International Seabed Authority, a United Nations observer organization that regulates deep-sea mining in international waters, is drawing up a final regulatory framework for deep-sea mining that all 168 members would need to agree to within the next 12 months. The U.S. isn’t a member of the ISA. With or without the finalized rules, the ISA will permit seabed mining by July 2023, according to people familiar with the matter.
The intent of deep-sea mining is to scrape the ocean floor for polymetallic nodules—tennis-ball-size pieces of rock that contain iron and manganese oxide layers. A seabed in the Pacific Ocean called the Clarion Clipperton Zone, which cover 1.7 million square miles between Mexico and Hawaii, contains a high volume of nodules made of battery metals, such as cobalt, manganese and lithium. The International Seabed Authority in 2010 estimated the zone had roughly 30 billion metric tons of nodules. Cobalt and other metals used in making rechargeable batteries that power products from phones to electric vehicles are in high demand, setting off a race to find and procure them. Prices of these metals are soaring as mining for them comes under scrutiny, curtailing supply.
For the full story see:
Yusuf Khan. “Deep-Sea Mining Nears Reality.” The Wall Street Journal (Tuesday, Aug. 23, 2022): B11.
(Note: as of Sept. 9, 2022, the article was not available online.)