Latest news with #Carvalho
Scoop
23-05-2025
- Business
- Scoop
Deep Sea Mining Frontrunner Set To Sidestep UN Oversight , Pivots To US Route
The Metals Company, which has been supported by Nauru and Tonga, has confirmed it won't apply for a mining licence through the International Seabed Authority. Caleb Fotheringham, RNZ Pacific Journalist , RNZ Pacific Senior Journalist Deep sea mining frontrunner The Metals Company (TMC) has confirmed it will not apply for a mining license through the International Seabed Authority (ISA) in June, instead it will exclusively apply through US regulations. It is unclear what this means for both Nauru and Tonga, who have sponsored TMC at the ISA. However, the firm's chief executive Gerard Barron said the company would still renew its subsidiary Nauru Ocean Resources' (NORI) exploration licence. 'We will be renewing that because NORI is in full compliance. There is no legal basis on which that licence cannot be renewed,' he said during the company's first quarter update of 2025. TMC's mining application through US regulations was made possible through an executive order last month by President Donald Trump. The company's application covers 25,000 square kilometres in the Clarion Clipperton Zone – located in the international waters in north Pacific between Hawai'i and Mexico. Barron said the block was 'not claimed by any other sovereign'. 'While there is an ability to lay claim over grounds currently under license through the ISA by other countries we made a deliberate plan not to do that.' Barron added that Tonga and Nauru are supportive of TMC's moves. However, China's Ambassador to Nauru Lu Jin said that the US trampled on the United Nations Convention on the Law of the Sea (UNCLOS) by creating a mechanism to allow for deep sea mining outside of the ISA. During a meeting with Nauru's President David Adeang, Lu said China and Nauru should work together to safeguard Nauru's interests in deep sea mining, adding China would push the ISA to accelerate mining progress. Deep Sea Conservation Coalition's Phil McCabe said China's deep sea mining interest in the region is growing. 'This is the third Pacific Island country that China has spoken to on deep sea mining and looking for greater cooperation with, following the Cook Islands sealed deal on cooperation and discussions with Kiribati as well.' ISA secretary general Leticia Carvalho claimed the US had no authority to offer permits in the Clarion-Clipperton Zone. 'Circumventing the regulatory authority of the ISA not only breaches international law, but also erodes trust,' Carvalho said. Carvalho said TMC had been 'very pushy' on trying to get mining rules approved at the ISA, so the company pivoting to the US was 'not completely unforeseen'. 'The new administration of the US aligns with a number of issues regarding employment generation, security, also regarding the fact that they're somehow behind China in possession of the minerals.' Juressa Lee with Greenpeace Aotearoa said the Trump administration is acting outside of multilateralism. 'This sets a very, very low bar and a terrible precedent for other countries, [ISA] member states and wannabe deep sea mining companies to follow.' Despite criticism, TMC's share price has quadrupled since the beginning of this year. Barron believes the price was held back by a lack of a clear regulatory pathway, which he sees is now secure through the US regulations. 'We believe this US-based pathway offers the greatest probability of receiving a commercial permit in a timely, transparent and legally robust manner, giving us clear line of sight to responsible commercial operations.' Barron expects the commercial recovery permit to be deemed complaint prior to the end of June, TMC will then go through an environmental review if successful.
Scoop
23-05-2025
- Business
- Scoop
Deep Sea Mining Frontrunner Set To Sidestep UN Oversight , Pivots To US Route
The Metals Company, which has been supported by Nauru and Tonga, has confirmed it won't apply for a mining licence through the International Seabed Authority. Caleb Fotheringham, RNZ Pacific Journalist , RNZ Pacific Senior Journalist Deep sea mining frontrunner The Metals Company (TMC) has confirmed it will not apply for a mining license through the International Seabed Authority (ISA) in June, instead it will exclusively apply through US regulations. It is unclear what this means for both Nauru and Tonga, who have sponsored TMC at the ISA. However, the firm's chief executive Gerard Barron said the company would still renew its subsidiary Nauru Ocean Resources' (NORI) exploration licence. 'We will be renewing that because NORI is in full compliance. There is no legal basis on which that licence cannot be renewed,' he said during the company's first quarter update of 2025. TMC's mining application through US regulations was made possible through an executive order last month by President Donald Trump. The company's application covers 25,000 square kilometres in the Clarion Clipperton Zone – located in the international waters in north Pacific between Hawai'i and Mexico. Barron said the block was 'not claimed by any other sovereign'. 'While there is an ability to lay claim over grounds currently under license through the ISA by other countries we made a deliberate plan not to do that.' Barron added that Tonga and Nauru are supportive of TMC's moves. However, China's Ambassador to Nauru Lu Jin said that the US trampled on the United Nations Convention on the Law of the Sea (UNCLOS) by creating a mechanism to allow for deep sea mining outside of the ISA. During a meeting with Nauru's President David Adeang, Lu said China and Nauru should work together to safeguard Nauru's interests in deep sea mining, adding China would push the ISA to accelerate mining progress. Deep Sea Conservation Coalition's Phil McCabe said China's deep sea mining interest in the region is growing. 'This is the third Pacific Island country that China has spoken to on deep sea mining and looking for greater cooperation with, following the Cook Islands sealed deal on cooperation and discussions with Kiribati as well.' ISA secretary general Leticia Carvalho claimed the US had no authority to offer permits in the Clarion-Clipperton Zone. 'Circumventing the regulatory authority of the ISA not only breaches international law, but also erodes trust,' Carvalho said. Carvalho said TMC had been 'very pushy' on trying to get mining rules approved at the ISA, so the company pivoting to the US was 'not completely unforeseen'. 'The new administration of the US aligns with a number of issues regarding employment generation, security, also regarding the fact that they're somehow behind China in possession of the minerals.' Juressa Lee with Greenpeace Aotearoa said the Trump administration is acting outside of multilateralism. 'This sets a very, very low bar and a terrible precedent for other countries, [ISA] member states and wannabe deep sea mining companies to follow.' Despite criticism, TMC's share price has quadrupled since the beginning of this year. Barron believes the price was held back by a lack of a clear regulatory pathway, which he sees is now secure through the US regulations. 'We believe this US-based pathway offers the greatest probability of receiving a commercial permit in a timely, transparent and legally robust manner, giving us clear line of sight to responsible commercial operations.' Barron expects the commercial recovery permit to be deemed complaint prior to the end of June, TMC will then go through an environmental review if successful.
Scoop
23-05-2025
- Business
- Scoop
Deep Sea Mining Frontrunner Set To Sidestep UN Oversight , Pivots To US Route
Caleb Fotheringham, RNZ Pacific Journalist , RNZ Pacific Senior Journalist Deep sea mining frontrunner The Metals Company (TMC) has confirmed it will not apply for a mining license through the International Seabed Authority (ISA) in June, instead it will exclusively apply through US regulations. It is unclear what this means for both Nauru and Tonga, who have sponsored TMC at the ISA. However, the firm's chief executive Gerard Barron said the company would still renew its subsidiary Nauru Ocean Resources' (NORI) exploration licence. "We will be renewing that because NORI is in full compliance. There is no legal basis on which that licence cannot be renewed," he said during the company's first quarter update of 2025. TMC's mining application through US regulations was made possible through an executive order last month by President Donald Trump. The company's application covers 25,000 square kilometres in the Clarion Clipperton Zone - located in the international waters in north Pacific between Hawai'i and Mexico. Barron said the block was "not claimed by any other sovereign". "While there is an ability to lay claim over grounds currently under license through the ISA by other countries we made a deliberate plan not to do that." Barron added that Tonga and Nauru are supportive of TMC's moves. However, China's Ambassador to Nauru Lu Jin said that the US trampled on the United Nations Convention on the Law of the Sea (UNCLOS) by creating a mechanism to allow for deep sea mining outside of the ISA. During a meeting with Nauru's President David Adeang, Lu said China and Nauru should work together to safeguard Nauru's interests in deep sea mining, adding China would push the ISA to accelerate mining progress. Deep Sea Conservation Coalition's Phil McCabe said China's deep sea mining interest in the region is growing. "This is the third Pacific Island country that China has spoken to on deep sea mining and looking for greater cooperation with, following the Cook Islands sealed deal on cooperation and discussions with Kiribati as well." ISA secretary general Leticia Carvalho claimed the US had no authority to offer permits in the Clarion-Clipperton Zone. "Circumventing the regulatory authority of the ISA not only breaches international law, but also erodes trust," Carvalho said. Carvalho said TMC had been "very pushy" on trying to get mining rules approved at the ISA, so the company pivoting to the US was "not completely unforeseen". "The new administration of the US aligns with a number of issues regarding employment generation, security, also regarding the fact that they're somehow behind China in possession of the minerals." Juressa Lee with Greenpeace Aotearoa said the Trump administration is acting outside of multilateralism. "This sets a very, very low bar and a terrible precedent for other countries, [ISA] member states and wannabe deep sea mining companies to follow." Despite criticism, TMC's share price has quadrupled since the beginning of this year. Barron believes the price was held back by a lack of a clear regulatory pathway, which he sees is now secure through the US regulations. "We believe this US-based pathway offers the greatest probability of receiving a commercial permit in a timely, transparent and legally robust manner, giving us clear line of sight to responsible commercial operations." Barron expects the commercial recovery permit to be deemed complaint prior to the end of June, TMC will then go through an environmental review if successful.
Morocco World
22-05-2025
- Business
- Morocco World
Portugal Turns to Morocco Power Link as France Blocks EU Grid
Doha – With France continuing to stall energy links from the Iberian Peninsula, Portugal is weighing an electrical interconnection with Morocco — especially as Spain already maintains an existing link with the North African country. Portuguese Environment and Energy Minister Maria da Graça Carvalho announced the potential shift during meetings in Brussels on Wednesday. The move comes after last month's massive blackout exposed the Peninsula's energy vulnerability. 'In the case of Portugal and Spain, the most logical and rational interconnection is with France,' Carvalho said. 'But we are also considering an interconnection with Morocco.' The minister delivered a joint letter with Spanish counterpart Sara Aagesen to EU Energy Commissioner Dan Jørgensen. The formal request demands political and financial support for French connections and calls for 'swift and effective integration of the Iberian Peninsula into the EU energy system.' Current interconnection levels reach just 2.84% between Iberia and France. EU targets require 10% by 2020 and 15% by 2030. 'We want France, because of this incident, because of the internal market and because of solidarity with other countries, to see also the advantage of everyone being interconnected,' Carvalho stated. She requested a trilateral meeting with the French, Spanish, and Portuguese energy ministers, with the European Commission mediating the discussions. France shows limited interest in expansion plans and continues to stand in the way of broader energy interconnection efforts. Two Pyrenees connections previously included in French network planning no longer appear until 2035. 'France shows little interest,' Carvalho said. 'There exists an agreement, but there have been successive delays.' The Moroccan alternative carries technical hurdles. 'It would be more expensive due to distance and because it would be a submarine connection,' the minister explained. Yet it remains the strategic alternative, with agreements already in place to strengthen electrical cooperation between the two shores of the Mediterranean. Portugal's slower recovery from the April 28 blackout drives the urgency. 'The fact that we do not have those connections made the process slower,' Carvalho noted. 'If the connection with France were stronger, recovery in Spain would have been faster and could have reached Portugal earlier.' Morocco saves the day Morocco leaped into action during the crisis. The country unleashed 38% of its production capacity to rescue Spain through existing submarine cables. Within hours, energy flowed northward in a rare reversal of normal patterns. As power restoration began, Spanish Prime Minister Pedro Sánchez publicly thanked Morocco the same day, citing the country's rapid support. 'Electricity has been restored in some regions of northern and southern Spain thanks to the interconnections with France and Morocco,' Sánchez said. 'I want to thank these two countries for their solidarity at this time.' Morocco flipped its energy equation during the emergency. The country typically imports 778 megawatts from Spain but fired 519 megawatts northward during the crisis. Spanish Foreign Minister José Manuel Albares later commended Morocco for critical support. 'This is yet another demonstration of the excellent state of our relations with our neighbors, especially with Morocco,' Albares told parliament. The Morocco-Spain connection operates through two submarine lines with 1,400 megawatts capacity. A third cable under development will add 700 megawatts by 2026. Infrastructure foundations span decades of cooperation. ENTSO-E will investigate the April blackout's causes. Initial suspicions point to southern Spain, particularly Andalusia. Experts do not rule out cyberattacks but consider them unlikely. The investigation will examine renewable energy impacts and grid management systems. 'That could be one of the causes, but it is not yet proven,' Carvalho concluded. Portugal wants the blackout investigation completed within six months. By law, ENTSO-E has until next summer to deliver findings. Carvalho argues the incident's severity requires much faster conclusions than the standard legal timeline allows. Tags: Morocco and Portugalportugal power outagespain power outage
Hindustan Times
22-05-2025
- Business
- Hindustan Times
Portugal wants European regulators' agency to lead Iberia outage investigation
LISBON, - Portugal wants European energy regulators' agency ACER to lead an independent investigation into the causes of the huge power outage that brought most of Spain and Portugal to a standstill last month, its acting energy minister told Reuters. Maria da Graca Carvalho said Prime Minister Luis Montenegro wants an independent investigation led by the European Agency for the Cooperation of Energy Regulators to complement the technical report being prepared by the European network of transmission system operators ENTSO-E. "ACER, as a suitable entity to coordinate any external evaluation process, could bring more confidence, impartiality and transparency to the conclusions," Carvalho said in an e-mail, responding to questions from Reuters. "As for speculation about cyber attacks, sabotage or human error, at this time there is no evidence" that any of those could have caused the outage, the minister told Reuters in a written statement. Spain's energy minister said last week that an abrupt loss of power generation at a site in Granada, followed by outages seconds later in Badajoz and Seville, triggered the unprecedented blackout across Spain and Portugal on April 28. Iberia lags behind the EU's target for all countries to have 15% of their energy system interconnected to the broader European network by 2030, with Iberia's share stuck at just 3%. Carvalho said that, regardless of the causes of the blackout, Portugal was pondering how to strengthen the resilience and security of the national electricity system, which is a "strategic imperative".
