I’ve never been there, but I’m told by reliable sources that the very bottom of the deepest parts of the ocean is covered in what’s called polymetallic nodules. These nodules are like potatoes in shape, but instead of starch, they are packed with all sorts of different metals: manganese, cobalt, nickel, copper, and rare earth metals.
These polymetallic potatoes in recent years have become seen as very valuable, and so, some companies want to mine the deep ocean bed in order to harvest them.
Specifically, the island nation Nauru, the economy of which was once based on strip-mining bird poop, has contracted with a Canadian corporation to mine the deep ocean. When I say deep, I mean deep — like 16,000 feet. That’s more than 3 miles down.
Nobody has mined the deep seafloor before. That hasn’t stopped The Metals Company, which just went public and has partnered with Nauru in a bid to mine these polymetallic potatoes from 3 miles deep.
The company was formerly named “DeepGreen Metals.” Why “Green”? Because this unprecedented, dangerous experiment in tearing up the seabed is part of “the clean energy transition,” as the company puts it.
In short, the company plans to harvest the deep sea bed in order to get the materials needed for the batteries in electric cars. Many environmentalist groups are freaking out.
“The risks are enormous,” writes Guardian environmental editor Jonathan Watts. “Oversight is almost impossible. Regulators admit humanity knows more about deep space than the deep ocean. The technology is unproven. Scientists are not even sure what lives in those profound ecosystems.”
A Reuters article on the company listed off an army of opponents.
Greenpeace has stepped up its advocacy against the activity in recent months. It is calling on global governments not to sponsor any deep seabed mining, related research or exploration, and to halt development of a mining code under the International Seabed Authority.
“There is nothing sustainable about carving up the seafloor for mining,” Greenpeace spokeswoman Nelli Stevenson said, when asked about DeepGreen’s mining plans.
“The deep ocean must remain off-limits to the mining industry to prevent further biodiversity loss and potentially damaging a critical carbon sink.”
What if all the subsidies for electric cars and their batteries, combined with taxes and regulations limiting tailpipe emissions, lead to a massive demand for these deep-sea nodules and thus cause devastation to our oceans?
It wouldn’t be shocking, as regulations, subsidies, and mandates typically only accomplish some of their goals, usually those of enriching the well-connected and empowering the governing class, even while undermining their stated purpose.
It’s also possible that mining the deep seafloor can be done safely without much environmental impact. The Guardian has a long piece this week, though, calling the practice a disaster.
