The Economics of Deep-Sea Mining Do Not Add Up

The Deep Sea mining industry claims it is lucrative and equitable. These claims are completely unfounded. Imagine working at depths of 4000m in total darkness at pressures that would crush a bus in microseconds. The logistics and costs of working in this environment are unknown and are not commercially viable. 

Economic models suggest that introducing metal deposits from the deep sea to the terrestrial market could depress prices. This would severely affect the ability of companies to make a profit.
Members of the International Seabed Authority claim that the present net value to humankind equals $100,000 per year for ISA member states. The Deep Sea Conservation Coalition found that to reach this, the ISA would have to issue hundreds of contracts and makes us question- is this worth putting our ocean’s at risk?

We do not yet know the economic value of the deep ocean. The deep ocean provides:

• A carbon sink
• Microbial compounds that can treat cancers and infectious diseases
• A haven for under-researched species 
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These ecosystem services are almost impossible to quantify in monetary terms as are the spiritual and cultural ties that remote island nations have with the sea. The deep sea can be shared for the good of humankind, not just the few corporations or countries who stand to benefit from profits. 

​The good news? The nodules being targeted are not even necessary for the energy transition. This means that DSM just doesn’t add up!