Latest news with #deepSeaMining
ABC News
06-07-2025
- Politics
- ABC News
Deep sea mining regulations on the agenda as International Seabed Authority Assembly kicks off
On the program today Delegates from around the world arrive in Jamaica for the International Seabed Authority Assembly, where regulations for deep sea mining may be finalised. Hopes of Bougainville independence grows after leaders sign the Melanesian Agreement. US aid cuts threaten a massive infrastructure project designed to provide clean water for the population of Timor-Leste's capital city Dili. Solomon Islands celebrates 47 years since becoming independent from British rule. The sprint king and queens of the Pacific Mini Games are crowned in Palau. And statistics reveal a sharp decline in marriges in Fiji.
ABC News
03-07-2025
- Science
- ABC News
CSIRO develops landmark framework to protect deep sea ecosystems
In the face of calls from around the Pacific for a moratorium or a complete ban, there's a new twist in the ongoing debate over deep sea mining. Australia's peak scientific body the CSIRO has developed the first environmental management and monitoring frameworks designed to protect deep sea ecosystems should the International Seabed Authority allow mining to go ahead. The project was commissioned by the Canadian exploration corporation, The Metals Company... and the research findings are based on its test mining activities in international waters known as the Clarion-Clipperton zone. FEATURED: CSIRO's Senior Principal Research Scientist, Dr Piers Dunstan
Globe and Mail
27-06-2025
- Business
- Globe and Mail
Tmc The Metals Company: Wedbush Raises Valuation on Optimism
TMC The Metals Company (TMC) (About (STA Research): Is a Canadian investment research company, consisting of Financial Professionals specializing in advanced stock research and analysis) Wedbush raised their 12 month target price for The Metals Company Inc. from $6 to $11, reflecting a significantly more optimistic view of the company's future. This upward revision is driven by several key factors. First, the recent executive order supporting critical mineral development has bolstered confidence in the regulatory environment, providing a favorable backdrop for the company's deep sea mining operations. Second, The Metals Company has strengthened its balance sheet, improving its financial stability and ability to fund ongoing and future projects. Lastly, there is growing momentum around U.S.-backed initiatives focused on deep sea mining, positioning the company at the forefront of a strategic sector vital to the country's resource independence and clean energy transition. Collectively, these developments enhance the company's long-term growth prospects and justify the more aggressive price target. Stock Forecast & Analysis Analyst sentiment toward The Metals Company (TMC) is cautiously optimistic, with a consensus 'Buy' rating and as 12 month target price forecast of $9 per share. While TMC has strengthened its financial position with $81 million in cash and progress on key permits, it remains a pre-revenue company with projected losses and significant capital needs through 2027. Growth forecasts are strong—around 64% annual earnings growth and over 100% revenue growth—but investors face risks such as regulatory delays, high production costs, and environmental concerns. Overall, while deep-sea mining has strategic backing, it remains a speculative and volatile investment.
RNZ News
26-06-2025
- Politics
- RNZ News
Deep sea mining decision already made, Cook Islands opposition leader says
Cook Islands nodule field - photo taken within Cook Islands EEZ. Photo: Cook Islands Seabed Minerals Authority The Cook Islands' opposition leader believes the government has already decided it wants to pursue deep sea mining despite the science being inconclusive. Tina Browne has called for a pause on "the aggressive promotion of mining" by her government. However, she said she was fine with exploration and exploitation - the actual mining - if it is deemed environmentally safe. When asked how this position differed from the government's, she said, "The feeling that we have is that, while we want to tread cautiously and have the data available and the decisions made for safety, the government is promoting it in such a way that it has already determined it is safe." The Cook Islands is currently exploring the possibility of developing the industry but has not yet begun the actual mining. The Seabed Minerals Authority (SMA) is the government body in charge of deep sea mining in the Cook Islands. SMA's knowledge management director John Parionos said the National Environment Service is responsible for managing the process before an environmental project permit is issued. "This process is clear and legally mandated," Parionos said. He said it included the provision of a detailed environmental impact statement by the companies. While the authority and the National Environment Service have commissioned a strategic environmental assessment. "The [strategic environmental assessment's] purpose is to inform policy, not authorize any particular project to proceed to commercial minerals harvesting or other mining," Parionos said. "The results of the [strategic environmental assessment] thus far are encouraging but show key areas of uncertainty." Tina Browne Photo: Cook Islands News Browne said she did not want to be driven by the economic benefits of mining. "I want us to apply a lot of common sense and wisdom to the whole thing and not just be driven by the need to get money," she said. "We say that we are doing this for the future of our children, the children are saying, 'Well, there's not enough of us at these consultation meetings. "It's the same old elderly adults who are leaving us soon, we should be the ones to have a say in what we want for our future'."
Reuters
25-06-2025
- Business
- Reuters
US announces policy changes for offshore mineral development
June 25 (Reuters) - U.S. President Donald Trump's administration on Wednesday announced policy changes it said would speed up the search and development of offshore critical minerals. The Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement are updating policies across all stages of development to "reduce delays, improve coordination and provide greater certainty for industry", the U.S. Interior Department said in a statement. The move is a part of the Trump administration's goal of reshaping a critical mineral industry dominated by China, the top U.S. economic rival. The policy update announced by the Interior Department follows an executive order by Trump in April aimed at boosting the deep-sea mining industry in an attempt to improve U.S. access to nickel, copper and other critical minerals used widely across the economy. For early-stage exploration, BOEM will apply existing streamlined environmental reviews whenever appropriate, and it plans to extend the duration of early-stage exploration permits to five years from three, the Interior Department said. The administration will minimize "unnecessary paperwork and compliance steps" to fast-track approvals for mapping, testing, and site development. BOEM will also start identifying potential areas for development without first issuing a formal request for information or forming a joint task force with state and federal agencies to speed up the leasing process, the department said. The U.S. Geological Survey will provide the bureaus with scientific data on critical mineral resources, as well as potential environmental impacts and hazards associated with seafloor development.
