B.C. mining firm seeking U.S. approval to dig in international waters
A Vancouver-based mining company, The Metals Company (TMC), is making waves in the deep-sea mining industry by sidestepping the International Seabed Authority (ISA) and seeking permission from the U.S. to start mining in the Pacific Ocean. After years of frustrating negotiations with the ISA, TMC co-founder and CEO Gerard Barron believes that the U.S. regulatory system will allow them to start mining much sooner than if they had continued down the ISA pathway.
The ISA, formed in 1994, has been working towards establishing regulations for mining in international waters but has yet to finalize any. While nearly 170 member nations have been involved in the process, progress has been slow and no commercial mining permits have been issued. The U.S., which has not ratified the UN Convention on the Law of the Sea (UNCLOS) and is not a part of the ISA, has its own laws governing deep-sea mining.
TMC is seeking a permit through the 1980’s Deep Seabed Hard Mineral Resources Act to extract polymetallic nodules from the seabed in the Pacific Ocean. These nodules contain valuable minerals like cobalt and nickel, and TMC believes that the U.S. permitting process will be more efficient than the one under the ISA.
However, the head of the ISA, Leticia Carvalho, has warned that any unilateral action by TMC would violate international law and undermine the principles of multilateralism and collective governance established under the UNCLOS. The ISA’s jurisdiction extends beyond the 200 nautical miles controlled by individual countries, making it responsible for regulating mining in international waters.
Environmental concerns have been a major factor in the slow progress of negotiations at the ISA, with many countries calling for a moratorium on deep-sea mining until more is known about its impact. TMC’s decision to seek permission from the U.S. has raised concerns that it could lead to a free-for-all for seabed mining, with major players like China and Russia potentially disregarding the ISA’s authority.
While TMC has promoted deep-sea mining as a more environmentally and socially conscious alternative to land-based mining, critics like Halifax-based campaigner Travis Aten worry that bypassing the ISA could undermine efforts to govern the oceans responsibly. The move also raises questions about TMC’s commitment to environmental protection and sustainable practices.
As TMC moves forward with its application to the U.S. National Oceanic and Atmospheric Administration, the deep-sea mining industry is facing a critical juncture. The decisions made in the coming months could have far-reaching implications for the future of ocean governance and environmental protection.
