Explained | What is deep sea mining and what are the concerns related to the industry?
The story so far: The two-year deadline for the International Seabed Authority to finalise deep-sea mining rules, set in 2021, has ended. According to the International Union for Conservation of Nature, the extraction of mineral resources from the ocean below 200 metres is called deep sea mining. Seabed ecosystems are not yet fully explored, and depleting terrestrial deposits amid an increasing demand for metals like lithium, cobalt, copper, nickel, and manganese has driven increased demand to explore deep sea mining. So far, ISA has only issued exploration contracts, but IUCN believes that deep sea mining in international waters could start by 2026. Norway in June 2023 proposed opening its waters to deep sea mining in a bid to shift from hydrocarbons towards newer sources of economic activity, Reuters reported.
India eyes deep-dive to the ocean floor to mine minerals, give economy a boost
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