Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Economy

Mining Shares: Uncertainty Surrounds Deep-Sea Mining

Mining Shares: Uncertainty Surrounds Deep-Sea Mining

The International Seabed Authority (ISA) is nearing the end of two years designated for adopting a deep-sea mining code, paving the way for issuing commercial permits for deep-sea mineral extraction. However, as the July 9 deadline approaches, questions arise regarding the review process and potential delays in approval. This article delves into the complexities surrounding deep-sea mining, its significance in the global energy transition, and the future of mining shares.

The Potential of Deep-Sea Mining

Deep-sea mining has sparked considerable interest due to the vast reserves of battery metals discovered beneath the ocean floor. With the high demand for metals like copper, cobalt, and nickel, essential for battery production and the global energy transition, accessing these resources cannot be overstated. As technology continues to advance, the viability of deep-sea mining becomes increasingly feasible, presenting significant opportunities for both industry and investors. Extracting these valuable resources will require skilled professionals, thus creating jobs in mining and related industries. However, the precise impact on employment figures and the local communities will be determined once the mining permits are approved and operations commence.

The Challenges and Uncertainty Ahead

Extensive negotiations and delays have marked the road to commercial-scale deep-sea mineral extraction. Since 2012, the ISA council, comprised of 36 members, has strived to create a mining code that balances resource use and environmental protection. However, the COVID-19 pandemic hampered progress, pushing the completion of the final regulations beyond the original 2020 deadline. Concerns persist over permit application reviews as July 9 deadline approaches, causing uncertainty among mining shares and stakeholders.

In conclusion, deep-sea mining represents a promising avenue for accessing valuable minerals critical to the global energy transition. However, as the deadline for adopting deep-sea mining code approaches, uncertainties cloud the process of reviewing permit applications. The International Seabed Authority must carefully balance extracting mineral resources and addressing environmental concerns to ensure sustainability. Approval delays for the mining code cast doubts on the timeline for commencing deep-sea mining operations, a pressing concern. Investors and industry stakeholders, including those interested in mining shares, are closely monitoring the situation. Also, anticipating the future of deep mines and its impact on global mineral extraction and jobs in mining.

The post Mining Shares: Uncertainty Surrounds Deep-Sea Mining appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Stock

    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer: Oracleofomahasays.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Oracleofomahasays.com