- African countries pivotal in mining decisions
- Mining risks fragile deep-sea ecosystems
- Calls for moratorium due to environmental impact
Negotiations to adopt rules and regulations for commercial deep-sea mining in international waters resumed this week at the International Seabed Authority (ISA). African countries have a critical role in the future of industry and the health of our oceans.
ISA, a UN-affiliated entity, was founded in the 1990s to ensure that developing nations receive financial benefits from deep-sea mining when/if it begins, ensuring equity in the benefits obtained from global commons. As the argument proceeds, Africa finds itself at a crossroads where its actions could significantly impact the future of this business and the preservation of marine habitats.
According to industry advocates, minerals found in the deep water have the potential to generate millions of dollars. African countries stand to earn significantly through yet-to-be-determined financial and royalty systems at the ISA.
However, our research, which examines the net cost of deep-sea mining for many stakeholders, including mining companies, investors, low-income countries, sponsoring states, and countries participating in terrestrial mining, reveals a complicated web of risks and rewards.
According to mounting scientific data, mining would have catastrophic consequences for delicate undersea habitats. A single mining operation may produce large sediment plumes, reducing light penetration and water oxygenation while distributing poisons and radioactivity. The cost of irreversible ecological damage might be tremendous, potentially exceeding the global defence budget of over $2 trillion.
While private firms (and the countries that sponsor their mining operations) stand to profit soon, impending business model problems, lawsuit threats, and technological challenges cast severe doubt on the project’s long-term economic benefits. As more evidence becomes available, we must include the costs of potentially irreparable damage caused by mining, especially given humanity’s triple planetary dilemma of climate change, biodiversity loss, and pollution.
Furthermore, new technology, resource-efficient processes, circular economy models, and responsible mining practices can significantly reduce or even eliminate the need for deep-sea mining. We discovered that existing proven technology and strategies might reduce demand for the minerals mentioned above by around 58%.
Possible confrontations with land-based mining nations add to the complexity, as a sudden rise in supply might lower market prices and diminish earnings. Such implications need an appropriate compensation mechanism, highlighting the broader duties of regulatory agencies such as the ISA to ensure fairness and sustainability.
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In light of the growing concerns about mining’s potential impact on fragile deep-sea ecosystems and the actual costs of operations, an international movement supported by multiple high and low-income nations, such as Fiji, Mexico, Palau, Canada, Brazil, and Sweden, among others, conservation organizations, financial entities, and business leaders, is calling for an immediate moratorium or precautionary pause on deep-sea mining until comprehensive scientific research Unfortunately, no African states now support a moratorium or precautionary pause.
Deep-sea mining has far-reaching repercussions for Africa. Countries must assess the questionable short-term economic rewards against the long-term environmental consequences. Finally, the minerals found on the international seafloor belong to all of humanity as a shared legacy, raising major ethical concerns. The cost to our world and its ecosystems outweigh the short-term economic gains, pushing us to protect the fragile balance of our oceans and wildlife.
The discussion over deep-sea mining will continue, but as new data and opinions emerge, African countries must make their voices known on this crucial topic. The clock is ticking, and our decisions will have far-reaching consequences for our world and future generations.
