Marseille: A motion calling for a moratorium on deep-sea mining was adopted with overwhelming support by the IUCN World Conservation Congress today.
For immediate release 4.8.21
Following widespread criticism leveled at the deep-sea mining industry, would-be miners, DeepGreen, have admitted more ‘significant’ risks associated with the emerging industry than previously indicated.
The company spearheading efforts to open up a new frontier of destructive, industrial extraction in the deep ocean, has substantially revised its impact and feasibility statements in its latest submission to the US Securities and Exchange Commission (SEC), admitting the multiple financial, environmental, and social risks associated with deep-sea mining. This filing comes ahead of the company’s proposed merger with the Special Purpose Acquisition Company (SPAC) Sustainable Opportunities Acquisition Corp (SOAC) in their bid to become publicly listed as ‘The Metals Company’ (TMC).
The prospective deep-sea mining company acknowledges in its SEC filing that “potential future commercial-scale nodule collection operations in the CCZ [the area of the Pacific that DeepGreen seeks to mine] are certain to disturb wildlife in the operating area. The nature and severity of these impacts on CCZ wildlife are expected to vary by species and are currently subject to significant uncertainty” and that impacts on biodiversity “may never be, completely and definitively known.”
The filing also discloses the irreversible nature of environmental impacts, stating that it is “… not definitively known how the risk of biodiversity loss in the CCZ could be eliminated or reduced through mitigation strategies or how long it will take for disturbed seabed areas to recover naturally.”
This news comes as momentum continues to grow globally to halt the risky industry from a broad range of society. Recently more than 550 scientists and policy experts from over 40 countries have warned of the irreversible damage strip-mining the deep seabed would cause to life in the deep and the potential risks to services that make life on Earth possible, including the ocean’s ability to lock away carbon dioxide.
“The deep ocean stands between humanity and some of the worst impacts of the climate crisis, it is fundamental to the balance of our planet. To destroy it is the same pattern of behavior that got us into the current mess we are in. We need to learn from our past mistakes and safeguard the health of our ocean – our greatest ally in staving off the worst impacts of the climate crisis.”Sian Owen, Director of the Deep Sea Conservation Coalition
Proponents of deep-sea mining have argued its benefits over land-based mining – a comparison that experts have emphatically rejected in light of the many uncertainties surrounding the speculative new industry and its potential impacts on ocean and planetary health. The revised filing from DeepGreen joins this assessment, stressing that it is not possible to definitively say whether the impact of deep-sea mining on global biodiversity will be less significant than land-based mining for a similar amount of metal.
“These new admissions made in a formal Securities and Exchange Commission filing are very significant and cut to the heart of the risks posed by deep-sea mining. Since the company acknowledges now that impacts can never be known, that wildlife is certain to be disturbed and significant uncertainties exist as to the nature and severity of impacts, there is no way that the deep-sea marine environment cannot be effectively protected, implementing the precautionary principle, which is a key requirement of international oceans law.”Duncan Currie, International Lawyer
The financial risks associated with investing in the industry, which has garnered considerable negative press over the past couple of months, have also been highlighted in the company’s SEC submission, asserting that: “there can be no assurance that TMC’s financial condition following the Business Combination will be consistent with those set forth in such projections and forecasts, which could have an adverse impact on the market price of the TMC Common Shares or the financial position of TMC following the Business Combination.”
“DeepGreen has through these admissions conceded that they are not a sustainable and environmentally positive investment option. Regulatory pressure has forced them to admit to investors that it simply isn’t worth the risk.”Andy Whitmore, Finance Advocacy Officer at Deep Sea Mining Campaign
For more information, please contact:
Expert interviews are available with:
- Andy Whitmore UK – Deep Sea Mining Campaign- finance expert, working on mining & affected communities – firstname.lastname@example.org
- Duncan Currie – International Law of the Sea lawyer; has attended ISA meetings for 9 years – email@example.com
- Sian Owen – DSCC – expertise in biodiversity conservation, including deep-sea mining, and circular economy approaches- firstname.lastname@example.org
- Matthew Gianni – DSCC – expertise in international fisheries, marine conservation and deep-sea mining, and the International Seabed Authority – email@example.com
- Farah Obaidullah – DSCC – ocean protection advocate and lobbyist, working on deep-sea mining – firstname.lastname@example.org
For immediate release: 22 July 2021
Calls for a stop to the destructive deep-sea mining industry grow louder as a global coalition of more than 90 NGOs call on car manufacturing and technology companies to pre-divest and support a moratorium on the nascent industry, which could be given the green light in as little as two years.
The Deep Sea Conservation Coalition (DSCC) is urging companies, including car manufacturers, to commit to not using minerals sourced from the deep because of the numerous threats posed by the destructive deep-sea mining industry to the environment and the knock-on effects this will have on the livelihoods of many, in the Pacific and beyond.
For immediate release – 29th June 2021
Urgent calls for countries that are members of the International Seabed Authority to support a moratorium on deep-sea mining.
REACTION TO BLOOMBERG ARTICLE ON DEEP-SEA MINING
Calls for a Moratorium
An article published in Bloomberg today (24 June) underlines the risks posed by the emerging deep-sea mining industry to the environment, developing countries in the Pacific and beyond, and investors. Critically, it highlights the threat to the deep ocean and the important services it provides, standing between humanity and the worst impacts of climate breakdown.
Brussels, 10 June 2021. This week, on World Ocean Day, the European Parliament adopted the Union’s strongest position yet on the highly contested prospect of deep-sea mining. The Resolution adopted by the European Parliament is in response to the European Commission’s Biodiversity Strategy for 2030 published in May 2020.
Can deep-sea mining help the environment?
Mining companies and governments will soon be allowed to extract minerals from the deep-ocean floor. These rare metals are vital for a more environmentally sustainable future on land, but at what cost to the health of the ocean?
Continue reading here.
Source: el Agora
La Coalición para la Conservación de las Fondos Oceánicos pide a los líderes mundiales que apoyen una moratoria en la extracción minera de los fondos marinos en zonas fuera de la jurisdicción nacional, ya que todavía se desconocen sus posibles consecuencias en los ecosistemas.
Author: Mike Gaworecki
On a recent episode of the Mongabay Newscast, Mongabay looks at whether or not mining is compatible with the clean energy revolution.
Author: Helen Reid
Source: Financial Post
Mining on the sea floor should not begin before a full assessment of likely environmental impacts can be made, a report commissioned by the High Level Panel for a Sustainable Ocean Economy (Ocean Panel) said on Wednesday.