Green Minerals targets ocean floor mining in 2026
Green Minerals, the deep-sea mining arm of Cyprus-based Seabird exploration, is set to collaborate with a consortium led by Oil States Industries, a subsidiary of oil service firm Oil States International, to develop a harsh environment deep sea mining system, report Reuters.
The company is targeting ocean floor mining off Norway on 2026 and for the longer term will seek mining rights outside Norway.
Green Minerals and other advocates say offshore extraction of metals to build electric car batteries, wind turbines and solar panels could help Europe and the United States to reduce dependence on China.
Environmentalists, however, say that seabed mineral production could destroy little-known organisms on the ocean floor, and until more research has been done to understand the impact, such plans should be put on hold.
Green Minerals shares traded at 31 crowns per share by 1134 GMT on Euronext Growth Oslo, which aims to promote growth among smaller companies.
“The green energy transition is driving new demand for key minerals essential to electrification and digitisation. At the same time, new resources are becoming less accessible as land ore grade declines,” the company said in a statement.
In January, Norway launched a process to open areas of its extended continental shelf to exploration for seabed minerals, with the first licences potentially issued as early as 2023.
The government-led expeditions discovered ore deposits containing such metals as copper, zinc and cobalt on the ocean floor along the Mid-Atlantic Ridge between Jan Mayen and Svalbard Archipelago.
The International Seabed Authority, which regulates seabed mineral exploration in international, as opposed to national, waters, has yet to approve the rules for production.
In November, Green Minerals raised 31.7 million Norwegian crowns ($3.70 million) via a private placement, at a subscription price of 11 crowns per share.
Anglo American offers eDNA data to protect biodiversity
Anglo American is the first mining company to work with the International Union for Conservation of Nature (IUCN) and NatureMetrics by sharing its eDNA data to support the eBioAtlas programme; an initiative to combat extinction by using DNA technology to create a global atlas of the state of life in rivers and wetlands of world importance.
What is the eBioAtlas?
eBioAtlas is an ambitious partnership between NatureMetrics and IUCN to rapidly create a global atlas of life in the world’s largest river basins and wetlands using cutting-edge eDNA technology. It will provide a comprehensive picture of freshwater species in each location, mobilising local stakeholders and citizen scientists to fill in critical knowledge gaps to support conservation efforts and inform global policy to reverse the loss of biodiversity.
Anglo American is supporting the environment beyond life of mine
“eDNA analysis enhances the way we evaluate risk and meet – or even exceed – environmental regulations, track progress towards biodiversity targets, and reduce monitoring cost and efforts," said Anglo American's Biodiversity Principal, Warwick Mostert. "Anglo American strongly supports the eBioAtlas initiative and looks forward to working with its partners and collaborators to deliver this programme.
“When a mine is in full operation, it will become a key part of the ongoing monitoring and evaluation in terms of our biodiversity performance. When we start to get to the point where an operation is coming to closure, it will allow us to make sure the work has been done and we can meet our objective of restoring an environment to better than its pre-mining state.”
Who are NatureMetrics?
NatureMetrics is an award-winning technology start-up using cutting-edge genetic techniques to monitor biodiversity. We can uncover multiple species from complex environmental samples in low-cost and repeatable ways. By surveying everything from bats to bacteria, we help understanding of how to protect and build natural capital through activities such as farming, energy generation and forestry.