# Norway Sets Course To Commercially Scale Seabed Mining
Canonical URL: https://themoneygame.zeabur.app/stories/norway-sets-course-to-commercially-scale-seabed-mining
Published: 2023-12-06T00:00:00.000Z
Category: Mining

Norway is positioned to make history as the first country to embark on commercial seabed mining.

#### Big Idea:

Norway is on track to be the world's first to launch commercial seabed mining, with its minority government and two opposition parties approving Arctic seabed exploration.

#### Why It matters:

Support for seabed mining represents a strategic shift in resource procurement, addressing Europe's supply of critical minerals for green technologies and reshaping the mining industry's environmental and legislative landscape.

#### Key Details:

- Norway proposes to open about 280,000 km2 for seabed exploration, an area larger than the UK.
- Seabeds hold vital mineral deposits for green tech including batteries, wind turbines, copper, cobalt, and rare earth metals such as neodymium and dysprosium.
- Commercially-scaled seabed mining in the Arctic could pioneer extraction techniques specific for deep sea minerals.

> "We need to have a fact- based evaluation of deep sea minerals as a provider of critical minerals for the green energy transition," said Walter Sognnes, CEO of seabed mining startup Loke Marine Minerals.

#### What's Next:

Parliament’s final decision on full-scale mining awaits, potentially setting a global precedent for seabed mining initiatives and environmental policies.

#### Yes, but:

Environmental concerns loom large, with debates on marine ecosystem impacts and long-term sustainability.

#### The Intrigue:

This initiative intersects critical global issues: the need for sustainable sources of minerals for green technologies, the challenge of environmental protection and long-term sustainability, and geopolitical tensions over Arctic resources.

Source: The Money Game (https://themoneygame.zeabur.app/stories/norway-sets-course-to-commercially-scale-seabed-mining)