Greenpeace Statement: The deep sea mining industry is crumbling and desperate
Source: Greenpeace
The 30th Session of the International Seabed Authority, which starts today in Kingston, Jamaica, is the first under the new Secretary-General Leticia Carvalho, a scientist whose appointment brings an opportunity to reset the ISA’s focus away from prioritising deep sea mining industry interests and towards its mandate of protecting the seabed for all.[1][2]
In stark contrast with Carvalho’s science-driven approach, delegates are being forced to address The Metals Company’s (TMC) threat to submit the world’s first ever deep sea mining application for the international seabed in June without any rules and regulations in place.[3] TMC are seeking regulatory certainty from governments at this meeting, calling on governments to deliver a pathway to greenlight the start of deep sea mining despite growing headwinds.
Greenpeace International campaigner Louisa Casson, who is attending the meeting, said: “The deep sea mining industry is crumbling and resorting to increasingly desperate tactics as they lose support from governments and investors. The last weeks have repeatedly shown that companies are failing to live up to their hype and downsizing plans before they’ve even started. There’s never been a better time for governments to take decisive action to protect the ocean from this faltering, risky industry.”
Earlier this year, in a further sign of a faltering industry, TMC gave up one third of their exploration areas in the north-eastern Pacific Ocean. [5]
Alongside the threat of the first-ever commercial mining application, deep sea mining contractors have sent a joint letter to the ISA Council complaining they have spent US$2 billion, yet governments have not finalised the Mining Code. Indigenous representatives attending the ISA challenged the letter.
Louisa Casson added: “Deep sea mining companies seem to be confused about the role of the ISA. Governments are not gathered here to protect corporate interests but to co-operate on how to preserve the ocean for future generations. The only way to responsibly respond to these dangerous threats is by putting a moratorium in place.”
Greenpeace Aotearoa seabed mining campaigner Juressa Lee says: “Wannabe miners like Trans-Tasman Resources also want to plunder the ocean here in Aotearoa, encouraged by the Luxon government’s reckless fast-track process. The threat of seabed mining in Aotearoa is imminent and seabed miners around the world are watching closely what happens here. If TTR is given the go-ahead, it will encourage wannabe miners like TMC to push their application to start deep sea mining in the Pacific.”
Thirty-two governments have voiced opposition to the start of deep sea mining, calling for a moratorium at the International Seabed Authority in 2025.
[1] Leticia Carvalho’s inaugural statement: “We will embark on a new era defined by collaboration, equity, inclusiveness, transparency, accountability, effectiveness and sustainability-values that will guide our collective efforts to ensure ISA remains a trusted steward of the ocean […] Together, we must ensure that the ISA embodies the spirit of multilateral cooperation, serving as a model for transparent, inclusive and science-driven governance.”
[5] The company’s financial filings show that the company’s subsidiary DeepGreen Engineering Pte Ltd has ended its services agreement with Kiribati-sponsored Marawa, which gave TMC exclusive exploration rights to an area covering 74,990 square kilometres in the Clarion Clipperton Zone, the area of international seabed targeted for deep sea mining. https://www.sec.gov/Archives/edgar/data/1798562/000110465924119467/tmc-20240930x10q.htm
