Daily Newsletter

06 December 2023

Daily Newsletter

06 December 2023

Norway’s lawmakers green-light seabed mining plans

Seabed mining is being supported on the grounds of securing a source for critical minerals and for creating jobs.

Surya Akella December 06 2023

Norwegian lawmakers have agreed to allow deep sea mineral exploration in the Arctic Ocean, ignoring caution from environmentalists that the action could hamper marine biodiversity.

The country’s minority government secured support from two large opposition parties for the seabed mining proposal, which was announced in June this year.

The government expects the move will help the country become a commercial-scale seabed mining leader.

It is being supported on the grounds of securing a source for critical minerals and for creating jobs, Reuters reported.

The initial bill is said to have been amended by the government, and will be discussed formally next month and then voted on.

The amended bill is said to be more stringent in terms of environmental survey norms compared with the original bill, added the news agency.

The move is also expected to give parliament the final say on whether to go ahead with full-scale mining after looking at data from initial exploration activities.

Norwegian Member of Parliament Baard Ludvig Thorheim was quoted by Reuters as saying: “We believe, and hope, it will become the international standard for this activity. At the same time it is important that it is a framework that is predictable for commercial players, on which we rely on for these activities.”

He also stated that the bill was debated on balancing environmental needs and commercial feasibility for companies that want to participate in deep-sea mining.

Loke Marine Minerals, a seabed mining start-up, has welcomed the government’s decision.

The news agency quoted Loke CEO Walter Sognnes, who stated: “Great day not only for Norway but for the world. We need to have a fact-based evaluation of deep sea minerals as a provider of critical minerals for the green energy transition.”

In a press release, WWF Norway alleged that the government, in June, had agreed on deep-sea mining in areas the size of Great Britain.

WWF Norway CEO Karoline Andaur said: “The deep sea is the world's largest carbon store and our last untouched wilderness, with unique wildlife and important habitats that cannot be found anywhere else on earth.

“Rushing the opening process and allowing a potentially destructive industry without closing the large knowledge gaps could have disastrous consequences.”

Short supply of critical minerals could have a significant impact on energy transition objectives

Critical minerals are key to transitioning to a low-carbon world. There are concerns that the affordability of clean energy technologies will be affected by impending shortages as mineral production struggles to keep pace with demand. Many of these minerals are considered critical because resources are either in short supply, monopolized by individual regions, or at risk of significant supply chain disruption.

IoT in mining

IoT solutions enable mining companies to automate workflows, improve efficiency while reducing costs, and improve safety and ESG credentials across the whole value chain. IoT supports mining operations such as autonomous drilling, driverless haul trucks, health and safety monitoring, energy management, and environmental monitoring.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Your corporate email address *
First name *
Last name *
Company name *
Job title *
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close