Norway has put its deep-sea mining ambitions on hold, after political pressure forced the government into a rare policy reversal. Under a budget deal struck with opposition parties, the governing Labour Party agreed that no deep-sea mining licenses will be issued in Norwegian waters until at least 2029.
‘A Historic Victory'
It is a sharp turn from last year's position when lawmakers approved opening the vast offshore area for mineral exploration. Oslo planned to issue exploration licenses across 386 offshore blocks covering 280,000 square kilometers, giving Europe a new source of critical minerals such as copper, nickel, and manganese. These are all key components in batteries, renewable energy systems, and defense technologies.
Yet, political resistance intensified as environmental agencies, scientists, and opposition parties warned that deep-sea ecosystems remain poorly understood and extremely vulnerable.
"This decision is a historic victory," said Karoline Andaur, chief executive of WWF Norway. "Norwegian politicians decided to listen to scientific expertise and to the strong public demand to protect the vulnerable deep-sea environment, rather than being swayed by the mining lobby."
Domestic Campaigning Proceeds
While Norway's pause is a big win for environmentalists, deep-sea mining plans persist elsewhere. In the United States, deep-sea mining ambitions propelled The Metals Company (NASDAQ:TMC) to become one of the best-performing stocks on the Nasdaq exchange.
Following U.S. policy support, TMC moved forward with permit applications to mine in the Clarion-Clipperton Zone, a vast mineral-rich region of the Pacific Ocean between Hawaii and Mexico.
The planned mining areas cover nearly 200,000 square kilometers, with an additional 25,160 square kilometers targeted for commercial recovery. The zone hosts an estimated 1.63 billion tons of polymetallic nodules, containing 15.5 million tons of nickel, 12.8 million tons of copper, 2 million tons of cobalt, and 345 million tons of manganese.
TMC announced that it successfully produced battery-grade manganese sulfate from polymetallic nodules during bench-scale trials, a process TMC says could help reduce U.S. reliance on imported manganese.
Despite growing industry interest, the global regulatory framework remains incomplete. The International Seabed Authority (ISA) has yet to finalize its comprehensive Mining Code and set binding rules for commercial extraction. So far, ISA has signaled that it will advocate for strict environmental oversight.
"The deep seabed belongs to all of us, and all of us must have a voice in how it is governed," Secretary-General Leticia Carvalho said at the latest UN-linked seminar in New York.
Price Watch: The Metals Company (NASDAQ:TMC) is up 543.33% year-to-date.
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