The ocean floor could be the next big source of minerals essential to modern technology. But as companies push to start mining deep beneath the waves, the global rules to govern this activity remain unfinished—and controversy is mounting.
The Allure of Deep-Sea Minerals
Critical minerals like cobalt, nickel, and rare earth elements are in high demand for everything from smartphones and electric vehicle batteries to defence systems and renewable energy. The problem? Most of these minerals come from a handful of countries, with China dominating many supply chains. Governments and companies alike are searching for new sources to reduce reliance on existing suppliers.
Enter the deep ocean. The seabed holds vast quantities of valuable minerals, trapped in various forms. One well-known example is polymetallic nodules—potato-sized rocks scattered across deep ocean plains, sometimes 3,000 to 6,000 metres below the surface. These nodules contain manganese, iron, nickel, cobalt, copper, and traces of rare earth elements and platinum.
Another target is seafloor massive sulfides, mineral-rich deposits formed around hydrothermal vents where volcanic activity meets seawater. These deposits can contain copper, gold, zinc, and lead.
The ocean also holds crusts and brine pools rich in other metals, but these are often found in environmentally sensitive areas, making extraction risky.
Where Things Stand on International Rules
Mining the deep sea on a commercial scale hasn’t started yet. That’s partly because the global regulatory framework, known as the mining code, is still incomplete.
The International Seabed Authority (ISA), based in Jamaica, is the UN-backed body responsible for drafting and enforcing rules for mining in international waters beyond national jurisdictions.
The ISA has 172 member states, but the United States isn’t one of them. Under former President Donald Trump, the US moved to fast-track deep-sea mining permits outside the ISA’s system, which raised alarms among scientists, environmentalists, and many governments. Critics warn this risks fragmenting ocean governance and undermining international law.
Leticia Carvalho, the ISA’s secretary-general, has pushed to finalise the mining code this year. She argues that having clear rules will discourage companies from bypassing the ISA and mining without oversight.
But despite ongoing negotiations, the ISA’s recent meeting ended without a finished code or a clear timeline for completion.
Industry Moves and Environmental Concerns
The Metals Company, a Vancouver-headquartered firm and one of the biggest players in seabed mining exploration, has been seeking US permits to mine in international waters. The US National Oceanic and Atmospheric Administration (NOAA) has approved rules allowing companies to apply for exploration and exploitation licences At the same time, speeding up the process.
At the same time, environmental experts are calling for a moratorium on deep-sea mining until we better understand its impacts. The deep ocean is one of the least explored and most fragile ecosystems on Earth. Mining activities could destroy habitats that took millions of years to form and disrupt marine life with unknown consequences.
According to Pradeep Singh from Oceano Azul, a Lisbon-based ocean conservation group, the ISA’s negotiations are slow but necessary. Rushing the code could lead to weak regulations that fail to protect the ocean and its biodiversity.
The Stakes for Australia and Beyond
Australia, with its vast coastline and interests in both mining and marine conservation, has a stake in how deep-sea mining unfolds. The country is already a major producer of critical minerals on land, but ocean sources could redefine supply chains and market dynamics, especially if international rules are clear and enforced.
However, the environmental risks and geopolitical tensions involved mean Australia and other nations will need to tread carefully. The race to the seabed isn't just about minerals—it’s about who controls ocean resources and how we protect one of the planet’s last frontiers.
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With the deep-sea mining code still incomplete and major players like the US pushing ahead independently, the coming years will test the world’s ability to manage ocean resources responsibly. How Australia and other countries respond could shape the future of this emerging industry and the health of our oceans.
This article was created with AI assistance.
