Seabed mineral exploration in the Arctic region

An agreement

Labour Party and the Centre Party, as well as the Conservatives and the Progress Party in Norway, have agreed to allow seabed mineral exploration in the Arctic region. This allowed to secure a majority which enabled ocean mining. The deal will allow Norway to become the first country will make deep sea mining on a commercial scale. The projected operation will enable to secure critical minerals despite environmental concerns and international calls for a moratorium.

It should be highlighted that the amended version of the government’s proposal sets much higher environmental survey requirements at the exploration phase in comparison to the planned version. The debate will be on the 4th of January and it will be followed by a vote. Moreover, the worked-out agreement gives the parliament the final say at a later date on whether to approve full-scale mining based on data gathered from the deep-sea environment during the initial exploration.

International framework?

Bård Ludvig Thorheim has highlighted that the environmental issues have been well secured, as well as that all parties have debated how to balance the need for environmental requirements against commercial viability for companies seeking to start marine mining: „We believe, and hope, it will become the international standard for this activity. (…) If the demands are too steep and too complicated, there won’t be any interest, but at the same time, it is also in these companies’ interest to partake in an activity that has a good reputation and adheres to demands on sustainability.”

Voice from mining startup

This decision has been well received by seabed mining startup Loke Marine Minerals, which is backed by TechnipFMC and Wilhelmsen group.
Walter Sognnes has stated: „Great day not only for Norway but for the world.” he has added: “We need to have a fact-based evaluation of deep sea minerals as a provider of critical minerals for the green energy transition.”