theIASHub | 23 Jul, 2024
Context: India will seek licenses to explore deep-sea minerals in the Pacific Ocean as part of its strategy to secure resources essential for energy transition technologies.
Deep-Sea Mining
oControl of Critical Minerals: Countries that dominate the supply of critical minerals will have significant influence over the global political economy of electrification and decarbonization.
oCurrent Mineral Supply Dynamics: Currently, 70% of the world's cobalt is mined in the Democratic Republic of the Congo, and 95% of lithium comes from Argentina, Chile, and China, creating supply chain vulnerabilities.
oOpportunities for Mineral-Poor States: Deep-sea mining could potentially provide mineral-poor states with the chance to gain supply chain independence and access to emerging green technology markets.
Regional Focus: The Pacific Ocean
oPacific Island states that rely on sectors like fishing, tourism, and renewable energy are particularly concerned about the potential impacts of deep-sea mining on their economies and ecosystems.
oThe environmental impacts of deep-sea mining, including effects on migratory fish patterns, marine biodiversity, and long-term ecosystem health, are not well-understood and could be both immediate and irreversible.
oA study simulating deep-sea mining disturbances found evidence of ecosystem disruption even twenty-six years after the disturbance, highlighting the potential for long-term environmental damage.
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