Deep Sea Mining Statistics: Key Facts and Trends for 2024

Deep sea mining is gaining attention as a debated and potentially game-changing industry in the 21st century. This activity involves extracting minerals and metals from the seabed at depths exceeding 200 meters. It has sparked interest due to the growing need for metals crucial to modern technologies.

With land-based mineral reserves becoming scarcer and more complex to access, the abundant deposits of metals and minerals on the ocean floor have captured the interest of mining companies. These deep sea resources are estimated to be valued between £6.232 trillion and £12.46 trillion, encompassing metals like cobalt, nickel, copper, and manganese found in forms such as nodules, seafloor massive sulfides, and cobalt-rich crusts.

Moreover, the demand for metals such as nickel, cobalt, and manganese to make batteries, electric cars, and renewable energy systems fueled the increasing fascination with deep sea mining. Supporters believe deep sea mining might supply these resources, possibly aiding the shift towards a more environmentally friendly economy. 

Understanding what deep-sea mining entails and its implications is crucial, as it intertwines with the broader narrative of marine conservation and sustainable resource utilisation.

This article explores the intricate world of deep-sea mining, elucidating its processes and potential impacts on marine biodiversity. 

Deep sea mining involves extracting minerals and metals from the seabed, typically 200 to 6,500 meters deep. This practice targets deposits of manganese, nickel, cobalt, and rare earth elements crucial for modern technologies such as solar panels, rechargeable batteries and electronics. 

Over millions of years, these resources form into polymetallic nodules, massive sulfides on the seafloor, and cobalt-rich crusts. This is characterised by removing these metal and mineral deposits from the ocean floor, where significant accumulations have developed into potato-sized nodules. 

The extraction process involves large machines that collect these nodules or crusts and transport them to the surface for processing.

By 2030, it is projected that up to 10% of global production of minerals such as cobalt, copper, and zinc could be sourced from the ocean floor, potentially generating a global turnover of up to £8.441 billion. This significant shift towards deep-sea mining reflects the growing importance of underwater mineral resources in meeting the global demand for essential metals and minerals.

Please note: These prices, as of the time of publication, are subject to frequent fluctuations due to market conditions, global economic factors, and supply-demand dynamics. 

The deep seabed contains abundant deposits of valuable metals and minerals, including:

Deep-sea mining is a burgeoning industry that involves extracting minerals from the ocean floor. This practice poses significant environmental risks and has sparked global debate. These statistical facts and data were derived from Statista, IUCN, ISA, WWF, and other environmental studies. 

Here are some key statistics and facts about deep-sea mining:

Mineral Deposits

Scientists estimate the seafloor contains:

These deposits hold significant quantities of valuable metals:

Projected Deep Sea Mineral Production

Deep sea mining poses significant environmental risks, including habitat destruction, sediment plumes, and the potential extinction of undiscovered species. Scientists warn that biodiversity loss would be inevitable and irreversible, disrupting Earth's largest carbon sink during a climate crisis.

A study in Japan revealed a 43% decline in fish and shrimp populations within a year of mining activities.

This controversial industry targets mineral-rich deposits on the ocean floor, but its consequences extend far beyond the immediate extraction sites.

Scientists warn that biodiversity loss could be inevitable and irreversible.

In addition, the deep sea acts as a significant carbon sink. Disturbing these areas could release stored carbon, exacerbating climate change. Sediment plumes from these activities may disperse 10-100 kilometres beyond mining sites, affecting vast swathes of ocean.

The United Nations Environment Programme (UNEP) reports that 60% of major marine ecosystems in the sunlight zone have already degraded. It threatens to worsen this situation, potentially pushing fragile ecosystems past their tipping points.

Nearly 10% of assessed marine species with over 1,55o face extinction risks. This number could significantly increase, impacting unique deep-sea organisms.

Deep-sea mining could devastate approximately 8,000 to 9,000 square kilometres of the seabed over a 30-year license period. This equates to an annual impact of around 267 to 300 square kilometres. The loss of biodiversity and ecosystem services in these areas would be irreversible.

Deep-sea mining could affect about 0.73 to 0.82 square kilometres of seabed daily. This continuous disturbance would lead to the gradual degradation of marine habitats, with long-term consequences for ocean health.

Each mining operation involves removing the top 6-20 centimetres of seafloor sediment, which could lead to the potential extinction of species living on or within it. The polymetallic nodules and other minerals targeted by mining support complex ecosystems that would be entirely lost.

The deep sea plays a crucial role in carbon sequestration. Mining disrupts this process, potentially reducing the ocean's ability to mitigate global warming. Additionally, these mining activities emit greenhouse gases, contributing to climate change.

The International Seabed Authority (ISA) has issued 31 exploration contracts covering over 1.5 million square kilometres of international seabed.

Leading countries include China, France, Germany, and Russia. Companies like The Metals Company and GSR are leading the way in developing mining technologies and conducting environmental assessments.

Countries and corporations justify it is necessary for the production of green technology. However, environmental concerns have prompted calls for moratoriums. The ISA faces pressure to finalise regulations as exploration activities intensify.

Some major economies are vying for control of valuable seabed resources. China leads the race, holding five exploration contracts with the International Seabed Authority (ISA). India follows closely with four contracts, while other nations like Japan, South Korea, and Russia actively pursue deep sea mining opportunities.

These nations actively pursue valuable seabed resources, driven by the growing demand for minerals crucial to green technology production. However, environmental concerns cast a shadow over these endeavours.

Image credit: IUCN

The deep sea mining industry features a dynamic mix of established and emerging players, each employing unique strategies to secure critical mineral resources. As the global demand for critical minerals intensifies, these key players will shape the future of deep sea mining, balancing economic interests with environmental sustainability.

China continues to dominate the deep sea mining landscape, leveraging state-backed entities to secure multiple exploration licenses. However, several Western companies and emerging players are also making significant strides in this sector.

China Ocean Mineral Resources Research and Development Association (COMRA) holds the most exploration contracts with the International Seabed Authority (ISA), cementing China's leading position. The Chinese government has prioritised deep sea mining, investing heavily in technology development and exploration activities.

By understanding the key locations and projects, we can better appreciate the global implications of deep-sea mining and the urgent need for comprehensive regulations.

Prominent projects include:

The United Nations Convention on the Law of the Sea (UNCLOS) and the International Seabed Authority (ISA) regulate these activities in pivotal ways.

The 1982 UNCLOS declared the seabed beyond national jurisdiction as the "common heritage of mankind." This means that all mineral exploration and exploitation activities must benefit humanity. The ISA, established under UNCLOS, oversees these activities, ensuring they comply with international regulations.

Regulations vary significantly between countries. For instance, Norway has approved deep-sea mining exploration within its Exclusive Economic Zone (EEZ), while the Cook Islands have granted exploration permits but not extraction permits. The United States is considering the Responsible Use of Seafloor Resources Act to regulate mining activities.

Internationally, the ISA requires contractors to comply with multiple regulatory frameworks, including sponsorship agreements and national laws of the sponsoring state. 

However, there are concerns about the adequacy of these regulations to protect marine ecosystems, and several governments and organisations advocate for a moratorium on deep sea mining until robust environmental regulations are established.

Recent developments highlight a growing international focus on the environmental impacts of deep-sea mining. The UK, for instance, has supported a moratorium on new deep-sea mining licenses pending further environmental studies and the ISA's development of robust regulatory frameworks. 

Similarly, the ISA has been working towards establishing exploitation regulations, with a projected completion by 2025. This initiative follows significant debates and demands for stringent oversight to prevent potential environmental disasters

Deep-sea mining presents a compelling economic opportunity, with the potential to unlock vast mineral wealth from the ocean floor. Estimates suggest that the value of gold in international seabeds alone could reach £150 trillion. 

This immense economic potential stems from the abundance of polymetallic nodules, cobalt-rich crusts, and hydrothermal vents containing essential metals like nickel, manganese, cobalt, and copper. For instance, a single wind turbine requires 500kg of nickel, while electric vehicles demand triple the copper of conventional cars.

While deep sea mining shows promise in reducing certain environmental impacts, scientists stress the need for further research before commercial exploitation begins. 

This deep-sea mining exploration has illuminated the complexities and pivotal considerations that frame this frontier industry. We parsed through the mechanisms of mining in oceanic depths, the intricate dance of economic gain against environmental stewardship, and the ongoing dialogue surrounding regulatory frameworks.

The deep sea remains one of Earth's least explored frontiers. Scientists have identified over 5,000 new species in areas targeted for mining, highlighting the rich biodiversity that could be at risk. The long-term impacts of mining on these ecosystems still need to be fully understood, necessitating further research and a cautious approach.

Countries like Norway are leading the charge in exploring deep-sea mining within their territorial waters. However, international treaties like the High Seas Treaty aim to protect oceanic biodiversity, potentially imposing stricter regulations on mining activities. The global community remains divided on whether the benefits of deep-sea mining outweigh the environmental costs.

In addition, several governments and organisations advocate for a moratorium on deep-sea mining until robust environmental regulations are established. Notable supporters include Germany, Spain, the UK, and global brands like Samsung and BMW.

Innovations in deep sea mining technology could reshape job markets. Projections estimate industry growth from £510 million in 2020 to £11.8 billion by 2030. This expansion demands specialised roles like ROV operators, environmental scientists, and robotics engineers.

Alternatives to deep-sea mining exist. Recycling initiatives, technological innovations reducing metal dependence, and recovery from mining waste offer promising avenues. These options align with circular economy principles and minimise reliance on virgin material extraction.