New governance risks slowing deep-sea mining momentum

Significance Carvalho favours a more cautious approach to deep-sea mining (DSM). Interest in its development reflects rising demand for critical raw materials (CRM) and a desire for more diversified supply sources. The commercial case for what is a technically unproven form of raw material extraction is weak, while environmental opposition is growing. Impacts DSM-focused companies will struggle to retain investor interest. National maritime areas, rather than the international waters regulated by the ISA, may become the new focus of DSM companies. Slow development of DSM removes a potential competitor to land-based raw material extraction.