Norway to award Arctic seabed mining blocks in 2025

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Norway to award Arctic seabed mining blocks in 2025
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The government proposed putting forward 386 blocks in the Arctic as part of the round. The area comprises about 38% of the 280,000 square kilometers approved by the parliament for exploration earlier this year.“The world needs minerals for the green transition, and the government wants to explore if it is possible to extract seabed minerals sustainably from the Norwegian continental shelf,” said the Minister of Energy Terje Aasland.

“Researchers have been unanimous; we have too little knowledge about the deep sea, and even just exploring it can have catastrophic consequences for marine life and the vital ecosystem processes we find there,” Gytis Blazevicius, leader of the Norwegian environmental organization Nature and Youth, told Bloomberg.

“In the future, we will look back at 2024 as the fateful year when we could have made the right choice.” Greenpeace said on Wednesday the proposed blocks constituted a “shockingly large” area given previous warnings from scientists regarding the potential impact on fragile ecosystems. The European Parliament GreenDeal chief, Maros Sefcovic said in March that the European Union would monitor the process. Norway is not a member of the bloc. Copper holds losses as traders eye soft demand in ChinaLundin Mining to up stake in Caserones copper mine to 70%

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