Deep-sea mining in international waters is a unique proposition, given that the seabed is considered a global commons, so any extraction should be justified for the benefit of all humankind.But given the likely environmental and social costs and the increasingly weak economic arguments for it, its proponents must address why there is a supposed urgency to begin commercial production.“The financial case for deep-sea mining is being dismantled one argument at a time. As a small number of actors attempt to rush toward seabed mining, it is only a matter of time until more financial institutions join the momentum against [it],” a new op-ed argues.This article is a commentary. The views expressed are those of the author, not necessarily of Mongabay.
Why do we need deep-sea mining? Given the potential consequences for the health and biodiversity of the ocean, that seems a vital question to answer before any commercial mining starts. The question is even more important as the economic case for deep-sea mining is being increasingly undermined by financial evidence, and is nowhere near strong enough to justify the risks to ecosystems we barely understand.
Deep-sea mining in international waters is a unique proposition given that the international seabed is not owned by any state. Instead, it is considered the ‘global commons,’ belonging to all of us, so that any extraction should be justified for the benefit of all humankind.
