Norway hits pause on controversial deep-sea mining plans

Norway hits pause on controversial deep-sea mining plans


Norway’s Prime Minister Jonas Gahr Store gives a speech during the Autumn 2024 conference of Equinor, a Norwegian multinational energy company, in Oslo, Norway on November 26, 2024.

Thomas Fure | Afp | Getty Images

Norway has shelved plans to open a vast ocean area at the bottom of the Arctic for commercial-scale deep-sea mining.

The decision, which was confirmed late Sunday, comes after the country’s Socialist Left Party said it would not support the minority government’s budget unless it dropped the first licensing round for mineral activities, initially scheduled for the first half of next year.

Environmental campaigners welcomed the agreement as a “huge win” and “an important step in stopping this industry from destroying life at the bottom of the sea.”

Norwegian Prime Minister Jonas Gahr Støre described the move as a “postponement,” Reuters reported Sunday, citing comments delivered to private broadcaster TV2.

Støre leads Norway’s center-left Labor Party, which is the senior party in a minority government coalition with the Center Party.

Norway has controversially taken a leading role in the process of extracting minerals from the seabed, putting the country at odds with the likes of Germany, Britain, Canada and Mexico, which have all called for a halt to deep-sea mining amid environmental concerns.

The practice of deep-sea mining involves using heavy machinery to remove minerals and metals — such as cobalt, nickel, copper and manganese — from the seabed, where they build up as potato-sized nodules.

The end-use of these minerals are wide-ranging and include electric vehicle batteries, wind turbines and solar panels.

Scientists have warned that the full environmental impacts of deep-sea mining are hard to predict.

Environmental campaign groups, meanwhile, say the practice cannot be done sustainably and will inevitably lead to ecosystem destruction and species extinction.

In a parliamentary vote in January, Norwegian lawmakers voted to open an expansive area of the Arctic — equivalent to the size of Italy — for the exploration of deep-sea mining. It paved the way for companies to apply to mine in the country’s national waters near the Svalbard archipelago.

Two posters on the wall asking to “stop sea mining” exploration of the deep sea during day two of Glastonbury Festival 2024 at Worthy Farm, Pilton on June 27, 2024 in Glastonbury, England.

Luke Brennan | Redferns | Getty Images

Norway’s government said in June that it would start the first licensing round, with the aim of granting the first exploitation licenses early next year.

Sunday’s postponement, however, means government parties have agreed to stop the first licensing round from taking place until the end of next year. Norway is scheduled to hold parliamentary elections in September 2025.

‘Truly embarrassing’

Norway’s government has previously defended its plans to move forward with deep-sea mining, saying it reflects a necessary step into the unknown that could help to break China and Russia’s rare earths dominance.

“Any government that is committed to sustainable ocean management cannot support deep sea mining,” Haldis Tjeldflaat Helle, deep-sea mining campaigner at Greenpeace Nordic, said in a statement.

“It has been truly embarrassing to watch Norway positioning itself as an ocean leader, while planning to give green light to ocean destruction in its own waters,” Helle said.

Norway’s energy ministry did not immediately respond to a request for comment.



Source

Stock futures tick lower after Dow rallies to record high: Live updates
World

Stock futures tick lower after Dow rallies to record high: Live updates

Traders work on the floor of the New York Stock Exchange. NYSE Stock futures came slightly under pressure Wednesday night after a continued market rotation powered the Dow Jones Industrial Average to fresh highs. Futures tied to the Dow Jones Industrial Average lost 26 points, or nearly 0.1%. The S&P futures shed 0.2%, while Nasdaq […]

Read More
CNBC Daily Open: An AI and ‘everything else’ market in play in the U.S.
World

CNBC Daily Open: An AI and ‘everything else’ market in play in the U.S.

Traders work on the floor of the New York Stock Exchange (NYSE) on Nov. 12, 2025 in New York City. Spencer Platt | Getty Images The divergence between the performance of the Dow Jones Industrial Average and Nasdaq Composite on Wednesday stateside reinforces the suggestion that there are two markets operating in the U.S.: one […]

Read More
Asia markets mostly rise as Dow tops 48,000 for first time; traders eye U.S. government reopening
World

Asia markets mostly rise as Dow tops 48,000 for first time; traders eye U.S. government reopening

View of the Skytree from Ueno and Asakusa in Tokyo Jackal Pan | Moment | Getty Images Asia-Pacific markets mostly rose Thursday, following mixed trading on Wall Street as investors kept an eye on the U.S. government, which appeared poised to reopen as soon as the end of the week. Japan’s benchmark Nikkei 225 index […]

Read More