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		<title>Mining the abyss: A dangerous gamble?</title>
		<link>https://internationalfinance.com/magazine/industry-magazine/mining-the-abyss-a-dangerous-gamble/#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=mining-the-abyss-a-dangerous-gamble</link>
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		<dc:creator><![CDATA[IFM Correspondent]]></dc:creator>
		<pubDate>Tue, 18 Nov 2025 13:32:37 +0000</pubDate>
				<category><![CDATA[Industry]]></category>
		<category><![CDATA[Magazine]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[Cobalt]]></category>
		<category><![CDATA[copper]]></category>
		<category><![CDATA[Deep-Sea Mining]]></category>
		<category><![CDATA[electric vehicle]]></category>
		<category><![CDATA[Lithium]]></category>
		<category><![CDATA[minerals]]></category>
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		<category><![CDATA[Seabed]]></category>
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					<description><![CDATA[<p>What makes the prospect of deep-sea mining especially alarming is how little we know about the environments poised to be disturbed</p>
<p>The post <a href="https://internationalfinance.com/magazine/industry-magazine/mining-the-abyss-a-dangerous-gamble/">Mining the abyss: A dangerous gamble?</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
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										<content:encoded><![CDATA[<p><span data-preserver-spaces="true">Imagine descending into the deep blue expanse of the Pacific Ocean, hundreds of miles from land. Sunlight fades to darkness at just a few hundred metres, and by 3,000 feet (about 900 metres), the blackness is complete. By the time you reach 12,000 feet (over 3,600 metres), you have arrived at the abyssal seafloor.</span></p>
<p><span data-preserver-spaces="true">The vast Clarion-Clipperton Zone (CCZ) lies here, an underwater plain that stretches across approximately 1.7 million square miles (around 4.5 million km²) between Hawaii and Mexico. It’s an alien world where life has adapted to crushing pressure and eternal night. In fact, recent research catalogued over 5,500 species living in the CCZ, with an astonishing 88–92% of them new to science.</span></p>
<p><span data-preserver-spaces="true">This zone is not alone in its significance. Scientists estimate that millions of species, perhaps up to 10 million, may inhabit the deep ocean below 200 metres. Yet as rich and mysterious as this marine biodiversity is, these same deep-sea floors are also home to something else of extraordinary value: untapped stores of critical minerals.</span></p>
<p><span data-preserver-spaces="true">According to some estimates, a single swath of the CCZ contains more nickel, manganese, and cobalt than all known terrestrial reserves combined. Potato-sized black rocks called polymetallic nodules litter the seabed here.</span></p>
<p><span data-preserver-spaces="true">First noted by 19th-century ocean expeditions, these nodules are rich in metals vital for modern technology, </span><span data-preserver-spaces="true">from</span><span data-preserver-spaces="true"> copper and nickel for electric vehicle batteries </span><span data-preserver-spaces="true">to</span><span data-preserver-spaces="true"> cobalt and manganese for renewable energy systems.</span><span data-preserver-spaces="true"> For decades, the idea of harvesting this deep-sea mineral treasure was confined to theory.</span></p>
<p><span data-preserver-spaces="true">With </span><span data-preserver-spaces="true">advancing</span><span data-preserver-spaces="true"> underwater mining technology, that vision is hurtling toward reality. The year 2025 could mark a turning point. Dozens of exploratory missions have already probed the deep, and full-fledged commercial seabed mining looms on the horizon.</span></p>
<p><strong><span data-preserver-spaces="true">Treasures of the deep</span></strong></p>
<p><span data-preserver-spaces="true">In an era obsessed with smartphones, electric cars, and clean energy, these deep-sea minerals are often </span><span data-preserver-spaces="true">described</span><span data-preserver-spaces="true"> as the “new oil</span><span data-preserver-spaces="true">” powering</span><span data-preserver-spaces="true"> the global economy.</span><span data-preserver-spaces="true"> Demand for critical raw materials is surging, and policymakers argue they are indispensable for the green transition.</span></p>
<p><span data-preserver-spaces="true">Polymetallic nodules, which form over </span><span data-preserver-spaces="true">eons</span><span data-preserver-spaces="true"> in the abyssal muck, are packed with these high-value elements. In fact, a study by the United States Geological Survey found that the Clarion-Clipperton Fracture Zone could hold more nickel, manganese, and cobalt than all land-based reserves worldwide. One consulting firm even valued the CCZ’s metal bounty at roughly $18 trillion.</span></p>
<p><span data-preserver-spaces="true">Commercial interest in these “rocks” has been growing since at least the 1970s, but it accelerated after the International Seabed Authority (ISA) was established in 1994. The ISA, a body affiliated with the United Nations, is tasked with regulating mineral activities in international waters. To date, the ISA has issued 31 exploration contracts covering more than 1.5 million square kilometres of seabed—an area roughly four times the size of Germany.</span></p>
<p><span data-preserver-spaces="true">Major economies </span><span data-preserver-spaces="true">like</span><span data-preserver-spaces="true"> China, Russia, and South Korea are among those sponsoring deep-sea exploration ventures.</span><span data-preserver-spaces="true"> Private companies have also entered the fray. A Canadian firm, The Metals Company, successfully tested a robotic nodule collector in 2022, proving that harvesting these seabed minerals is technically feasible. All signs point to the race to the ocean bottom now truly underway.</span></p>
<p><span data-preserver-spaces="true">Proponents of deep-sea mining argue that it could relieve pressure on terrestrial mines, potentially sparing rainforests and communities from the ravages of surface extraction. However, this optimism glosses over a critical fact. Mining is destructive, no matter where it’s done.</span></p>
<p><span data-preserver-spaces="true">On land, </span><span data-preserver-spaces="true">digging up</span><span data-preserver-spaces="true"> minerals </span><span data-preserver-spaces="true">means</span><span data-preserver-spaces="true"> clear-cutting forests, blasting open pits, and generating toxic waste.</span><span data-preserver-spaces="true"> It leads to habitat loss, polluted waterways, and greenhouse gas emissions from energy-intensive processing.</span></p>
<p><span data-preserver-spaces="true">If surface mining is any indication, doing it in the deep sea, an environment even more delicate and completely unspoiled by humans until now, could be catastrophic. Heavy machines would churn up seabed sediments and vacuum up nodules by the ton, disrupting a world that has existed in silence for millions of years.</span></p>
<p><span data-preserver-spaces="true">Crucially, polymetallic nodules are not just inert rocks; they are a habitat. Some deep-sea creatures live on or around them, and even use them to lay eggs (scientists recently observed the “ghost octopus” breeding on these nodules in the CCZ). Removing the nodules is akin to ripping out the foundations of an ecosystem.</span></p>
<p><strong><span data-preserver-spaces="true">Life finds a way</span></strong></p>
<p><span data-preserver-spaces="true">What makes the prospect of deep-sea mining especially alarming is how little we know about the environments poised to be disturbed. The deep ocean is Earth’s largest ecosystem, comprising roughly 90% of the total volume of our oceans. Yet it remains mostly unexplored. </span><span data-preserver-spaces="true">By</span><span data-preserver-spaces="true"> some estimates, 80% of our oceans have never been mapped or observed by humans.</span></p>
<p><span data-preserver-spaces="true">In the past century, scientists have made one staggering discovery after another, revealing that life thrives even in the most extreme depths. In 1977, researchers diving near the Galapagos Islands found hydrothermal vents teeming with bizarre organisms, from giant tubeworms to clams the size of dinner plates. These creatures survive not through photosynthesis, but chemosynthesis, harnessing chemical energy from the vent fluids, an entirely new paradigm of life independent of sunlight.</span></p>
<p><span data-preserver-spaces="true">Since then, numerous expeditions have catalogued countless oddities of the deep. Fish with transparent heads, crustaceans that withstand immense pressure, and corals that form forests in perpetual darkness are among them.</span></p>
<p><span data-preserver-spaces="true">As new species are discovered on virtually every deep-sea expedition, scientists now believe the deep ocean’s biodiversity may rival or exceed that of shallow waters. Yet, these extraordinary creatures are equally fragile. Having evolved in an environment of constant conditions, even slight changes in temperature, chemical makeup, or light can be devastating.</span></p>
<p><span data-preserver-spaces="true">Unlike surface ecosystems </span><span data-preserver-spaces="true">that might</span><span data-preserver-spaces="true"> rebound after disturbances, deep-sea life often grows and reproduces </span><span data-preserver-spaces="true">slowly</span><span data-preserver-spaces="true">.</span><span data-preserver-spaces="true"> A coral colony in the abyss might be hundreds or thousands of years old, and a disturbed nodule field might never recover at all in human terms.</span></p>
<p><span data-preserver-spaces="true">The threats from seabed mining are manifold. Directly on the seafloor, bulldozing through sediment will smother organisms and eliminate habitats. But the impacts won’t be confined to the deep. Mining ships at the surface will shine bright lights into waters that have been dark for millennia, potentially disorienting animals adapted to near-total darkness.</span></p>
<p><span data-preserver-spaces="true">The operation of machinery will introduce intense noise pollution, adding to the cacophony that marine mammals already struggle with. Whales and dolphins, which rely on sound to navigate and find food, could be gravely affected by the continuous roar of seafloor mining equipment.</span></p>
<p><span data-preserver-spaces="true">Moreover, grinding up the seabed will create vast plumes of fine sediment that can drift for dozens of miles, clouding the water and clogging the gills and feeding apparatus of fish and filter-feeders far from the mining site.</span></p>
<p><strong><span data-preserver-spaces="true">Crossing the Rubicon</span></strong></p>
<p><span data-preserver-spaces="true">In April 2025, US President Donald Trump signed a controversial executive order aimed at </span><span data-preserver-spaces="true">fast-tracking</span><span data-preserver-spaces="true"> deep-sea mining in American waters and international high seas.</span><span data-preserver-spaces="true"> The order directed American agencies to expedite permits for seabed mining and even asserted American intent to allow mining “beyond national jurisdiction,” effectively thumbing its nose at international oversight.</span></p>
<p><span data-preserver-spaces="true">This move is unprecedented. The United States is the only major economy that hasn’t ratified the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and thus isn’t a member of the ISA. By unilaterally authorising seabed exploitation outside its exclusive economic zone, the United States is bypassing the ISA’s long-running effort to develop a global mining code for the oceans.</span></p>
<p><span data-preserver-spaces="true">By creating its own parallel system for granting mining rights, the US has crossed a diplomatic Rubicon, clashing with global consensus and raising the spectre of a free-for-all scramble on the high seas.</span></p>
<p><span data-preserver-spaces="true">This American stance comes at a time when much of the world is </span><span data-preserver-spaces="true">pumping the brakes</span><span data-preserver-spaces="true"> on deep-sea mining. In late 2024, Norway’s government agreed to pause its plans for the first commercial deep-sea mining licenses after an outcry from environmentalists and a small support party in Parliament.</span></p>
<p><span data-preserver-spaces="true">The decision halted what would have been the world’s first large-scale mining of the Arctic seabed. Likewise, a coalition of over 30 countries, including Germany, France, Spain, Canada, the United Kingdom, and many Pacific Island nations, has called for a moratorium of at least 10 years on all deep-sea mining.</span></p>
<p><span data-preserver-spaces="true">Several major global corporations </span><span data-preserver-spaces="true">like</span><span data-preserver-spaces="true"> BMW, Volvo, Google, and Samsung have pledged not to use any deep-sea minerals in their products until rigorous scientific studies demonstrate that mining </span><span data-preserver-spaces="true">would</span><span data-preserver-spaces="true"> not harm ocean environments.</span></p>
<p><span data-preserver-spaces="true">These companies, alongside environmental groups like the WWF, support a precautionary pause, noting that with so much of the deep ocean unexplored, forging ahead now would be “recklessly short-sighted.”</span></p>
<p><span data-preserver-spaces="true">Even within the mining and metals sector, some executives quietly admit that the optics and risks of deep-sea extraction are troubling. Many have begun investing in improved recycling and terrestrial alternatives instead.</span></p>
<p><strong><span data-preserver-spaces="true">Need or greed?</span></strong></p>
<p><span data-preserver-spaces="true">Supporters of deep-sea mining insist they are driven by necessity, not greed. The narrative goes like this: The world’s appetite for metals is skyrocketing, and we will soon face critical shortages that could derail the clean energy revolution.</span></p>
<p><span data-preserver-spaces="true">By</span><span data-preserver-spaces="true"> some </span><span data-preserver-spaces="true">oft-cited</span><span data-preserver-spaces="true"> projections, demand for minerals </span><span data-preserver-spaces="true">could</span><span data-preserver-spaces="true"> increase by nearly 500% by 2040 as electric vehicles, solar panels, and batteries </span><span data-preserver-spaces="true">proliferate</span><span data-preserver-spaces="true">.</span><span data-preserver-spaces="true"> “We have no choice,” say mining advocates. To meet climate goals and maintain supply chains, </span><span data-preserver-spaces="true">one must</span><span data-preserver-spaces="true"> find new sources of metals, and the deep sea is our best option.</span></p>
<p><span data-preserver-spaces="true">However, a closer look at market realities paints a far less dire picture. In fact, recent years have seen gluts and price collapses in several key minerals, calling into question the inevitability of shortages. The global production of lithium hit a record high in 2024. </span><span data-preserver-spaces="true">And instead</span><span data-preserver-spaces="true"> of a shortage, the result was a surplus of </span><span data-preserver-spaces="true">roughly</span><span data-preserver-spaces="true"> 154,000 tonnes of lithium (measured in lithium carbonate equivalent) that year.</span></p>
<p><span data-preserver-spaces="true">Weaker-than-expected electric vehicle sales contributed to this oversupply, </span><span data-preserver-spaces="true">sending</span><span data-preserver-spaces="true"> lithium prices </span><span data-preserver-spaces="true">plummeting</span><span data-preserver-spaces="true"> by nearly 80% from their 2022 peak.</span><span data-preserver-spaces="true"> Similarly, a massive expansion of nickel mining in Indonesia has flooded the market.</span></p>
<p><span data-preserver-spaces="true">Indonesia now produces over 60% of the world’s nickel, and the surge in supply has led to three consecutive years of oversupply, driving benchmark nickel prices down to nearly half of what they were in early 2022.</span></p>
<p><span data-preserver-spaces="true">Cobalt, another battery metal, is also in a state of excess. Record-high cobalt output (thanks in part to major producers in the Congo and China) has so outpaced demand that cobalt prices plunged to their lowest levels since 2016.</span></p>
<p><span data-preserver-spaces="true">And even copper, often touted as the most crucial green transition </span><span data-preserver-spaces="true">metal</span><span data-preserver-spaces="true">, is currently abundant.</span><span data-preserver-spaces="true"> Global copper inventories in mid-2024 reached their highest level in four years, reflecting the biggest glut in the copper market in at least four years.</span></p>
<p><span data-preserver-spaces="true">In short, the doomsday supply crunch that proponents of seabed mining warn about has yet to materialise. Metals markets are cyclical and notoriously difficult to forecast. </span><span data-preserver-spaces="true">Demand forecasts can be wildly </span><span data-preserver-spaces="true">off the mark</span><span data-preserver-spaces="true">, </span><span data-preserver-spaces="true">swinging</span><span data-preserver-spaces="true"> with new technologies, economic shifts, and policy changes.</span></p>
<p><span data-preserver-spaces="true">For example, battery makers are already adapting to material concerns. Tesla, the world’s leading electric car maker, revealed that by early 2022, nearly half of its new vehicles were built with cobalt-free batteries (using lithium-iron-phosphate chemistry instead).</span></p>
<p><span data-preserver-spaces="true">Other automakers and tech companies are investing in reducing reliance on rare minerals, from developing nickel- and cobalt-free batteries to improving designs for recyclability. Meanwhile, recycling programmes are ramping up for existing electronics and EV batteries.</span></p>
<p><span data-preserver-spaces="true">According to the International Energy Agency, a major scale-up in critical mineral recycling could cut the need for new mining by 25–40% by 2050. In the face of such innovations, the rationale for an urgent dive into seabed mining starts to look shaky.</span></p>
<p><span data-preserver-spaces="true">All of this begs the question: Is deep-sea mining truly about meeting an unavoidable need, or is it about opportunism and profit? The sceptics argue it’s the latter. They point out that many companies involved are junior mining firms and investors looking for the next frontier, hyping the deep sea as a trillion-dollar opportunity to boost their stock values. Governments, for their part, may be invoking “resource security” to justify power plays in regions beyond their sovereignty.</span></p>
<p><span data-preserver-spaces="true">The Trump administration projected that domestic deep-sea mining could add $300 billion to US GDP over a decade and create 100,000 jobs, lofty numbers that critics say gloss over the likely colossal environmental cost. </span><span data-preserver-spaces="true">As one prominent marine policy expert noted, the economic merits of deep-sea mining </span><span data-preserver-spaces="true">are still</span><span data-preserver-spaces="true"> far from clear.</span><span data-preserver-spaces="true"> What is clear is that once the seabed is torn up, the damage cannot be easily undone.</span></p>
<p><strong><span data-preserver-spaces="true">The ocean floor</span></strong></p>
<p><span data-preserver-spaces="true">The push to mine the ocean floor cannot be separated from the broader context of international competition. Nowhere is this clearer than in the rivalry between the United States and China. For the past two decades, China has methodically cornered the market on critical minerals.</span></p>
<p><span data-preserver-spaces="true">It accounts for </span><span data-preserver-spaces="true">about</span><span data-preserver-spaces="true"> 61% of global rare earth element production and an overwhelming 92% of rare earth processing, essentially a near-monopoly on </span><span data-preserver-spaces="true">turning</span><span data-preserver-spaces="true"> those raw oxides into usable materials.</span></p>
<p><span data-preserver-spaces="true">“While the Middle East has oil, China has rare earths,” Chinese leader Deng Xiaoping famously quipped in the 1980s.</span></p>
<p><span data-preserver-spaces="true">That statement has proved prophetic. Through heavy state investment and strategic partnerships, China built a dominant supply chain. Today, it effectively controls which countries or companies receive many crucial minerals, using this power as a geopolitical tool.</span></p>
<p><strong><span data-preserver-spaces="true">Potential exploitation</span></strong></p>
<p><span data-preserver-spaces="true">Our oceans produce most of the oxygen we breathe, regulate the climate, and sustain millions of people with food and livelihoods. And yet, they remain one of the least understood frontiers. Every deep-sea expedition yields new wonders, species and ecosystems we didn’t even know existed.</span></p>
<p><span data-preserver-spaces="true">To disturb these habitats irreversibly before we’ve even documented them would not only be tragic, but it would be </span><span data-preserver-spaces="true">foolish</span><span data-preserver-spaces="true">. As one marine conservation group bluntly put it, the decision to mine the deep sea is “not just an economic question, it is an existential one.”</span></p>
<p><span data-preserver-spaces="true">Companies and a handful of nations are ready to take the plunge. Giant machines sit poised to descend and crawl upon the abyssal plains. The regulatory net that should restrain them is frayed and incomplete. The ISA has been debating a mining code for years, with meetings in 2023 and 2024 struggling to finalise environmental safeguards.</span></p>
<p><span data-preserver-spaces="true">However, with the two-year trigger rule invoked by one small nation (Nauru) in 2021, the ISA faces pressure to allow mining even without comprehensive </span><span data-preserver-spaces="true">rules</span><span data-preserver-spaces="true"> in place. The governance gaps and loopholes are large enough for a mining vessel to sail through. If powerful countries now start ignoring the ISA entirely, the notion of collective stewardship of the “common heritage” could collapse overnight.</span></p>
<p>The post <a href="https://internationalfinance.com/magazine/industry-magazine/mining-the-abyss-a-dangerous-gamble/">Mining the abyss: A dangerous gamble?</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
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