Central idea: The International Seabed Authority has announced that it will start accepting applications from companies for deep sea mining from July.
Why in news?
- This decision was made in the absence of a mining code that has not been put in place yet.
What is Deep Sea Mining?
- Deep-sea mining is the process of extracting minerals from the deep ocean floor.
- The minerals that are extracted can include valuable metals such as copper, gold, nickel, and manganese, as well as rare earth metals that are used in high-tech devices such as smartphones, computers, and electric vehicles.
- The minerals are found in the form of polymetallic nodules that are located on the ocean floor at depths of around 4 to 6 kilometers.
- Deep-sea mining involves the use of specially designed equipment that can withstand the extreme pressure and temperature conditions found at these depths.
About International Seabed Authority
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Reasons behind undersea mining
- The mining is aimed at extracting cobalt, copper, nickel, and manganese from the ocean’s floor.
- The undersea mining will extract key battery materials from polymetallic nodules found at depths of 4 kilometers to 6 kilometers.
- These nodules are potato-sized rocks containing cobalt, copper, nickel, and manganese.
Key concern: Mining code missing
- Despite 10 years of discussion, there is no mining code in place.
- The governing council of ISA is uncertain about the process it should adopt for reviewing applications for mining contracts.
Issues with deep-sea mining
- Deep-sea mining is a controversial issue that has raised concerns among non-governmental organizations, experts, and some countries.
- One major concern is the potential damage to the seabed and the essential function of deep-sea ecosystems in regulating the climate.
- Mining activities can also have wider impacts on fish populations, marine mammals, and other ocean life.
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