Financial, regulatory, equipment, and environmental concerns still plague the deep-seabed mining industry 25 years after the International Seabed Authority was established by the UN in 1994
Mining seabed minerals is essential as they are becoming harder and less profitable to extract on land, yet are vital for electronic products and energy storage – smartphones, batteries, jet engines, laptops, solar panels, wind turbines, and electric vehicles to name a few. At the same time, demand for minerals continues to grow.
One of the first companies, and undoubtedly the best known globally, to be involved in deep-seabed mining (DSM) is Canada-based Nautilus Minerals: its current position is a significant weathervane for the industry. In its financial report as at 30 September 2018, Nautilus announced a working capital deficiency and an accumulated deficit of more than USD366 million.
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