Deep beneath the waves between Norway and Greenland lies a treasure trove of minerals worth a staggering $92 billion. These minerals, including cobalt and rare earths, are essential for industries such as electric vehicles and technology. As China and a few other countries monopolize the supply of these materials, the race to mine deep sea reserves has become a matter of crucial geopolitical importance.
In a recent video, the Wall Street Journal delves into how Norway is taking a leading role in this controversial race to mine the deep sea, with the United States closely monitoring developments. The video breaks down the process of exploring for and extracting these valuable minerals, as well as the legislative challenges and backlash faced by countries involved in deep sea mining.
One key aspect highlighted in the video is the sophisticated technology being used to explore the seabed for mineral deposits. From autonomous underwater vehicles to remotely operated vehicles, these cutting-edge tools are crucial in identifying and mapping out mineral-rich areas of the ocean.
Equally essential is the extraction technology required to mine these deep sea reserves. From robotic arms to suction pumps, the process of extracting minerals from the seabed is complex and challenging. Furthermore, countries must navigate the legal complexities surrounding deep sea mining, particularly in relation to the division of the continental shelf and international regulations.
While Norway is at the forefront of deep sea mining efforts, other countries are also vying for a piece of the lucrative mineral pie. With the global demand for these minerals only expected to increase in the coming years, the race to secure access to deep sea resources is becoming increasingly competitive.
Overall, the Wall Street Journal’s exploration of the race to mine deep sea minerals sheds light on the complexities and controversies surrounding this lucrative industry. As countries like Norway and the United States navigate the challenges of deep sea mining, the geopolitical implications of this race are sure to reverberate for years to come.
Watch the video by The Wall Street Journal
Video “Inside the Race to Mine $92 Billion Worth of Deep Sea Minerals | WSJ” was uploaded on 08/09/2024 to Youtube Channel The Wall Street Journal