Underwater Mining https://info.cowaninternational.com/international-mining-recruitment/bid/87225/Underwater-Mining-The-Future-for-the-Global-Mining-Industry
Underwater Mining : The Future for the Global Mining Industry?
Posted by Kate Smedley on Thu, Oct 04, 2012 @ 12:53 PM
According to a recent report on Achieving High Performance for Mining by 2020 by Accenture Chemicals, the future of the global mining industry will be shaped predominantly by two key elements, new mineral resources and sustainability. A key feature of the new mineral resources is underwater mining.
It is believed that significant amounts of untapped mineral resources exist on the ocean floor. Scientists from the University of Tokyo last year discovered an estimated 80-100 billion metric tons of rare-earth deposits in the Pacific Ocean. To put this in context, that is nearly one thousand times greater than current onshore rare-earth reserves estimated by the US Geological Survey.
The reason for its increasing attractiveness to the global mining industry is due to advances in:-
- robotics
- underwater drilling
- computer mapping
- current high commodity prices
Underwater mining is also considered possible for resources such as coal, metal compounds, gas hydrates and potentially gravel used in construction. The first recorded underwater mining occurred in the late 1950s when diamonds were mined from the ocean floor.
Nautilus Minerals
Leading the way in the development of underwater mining is Nautilus Minerals who secured a license from Papua New Guinea for its Solwara 1 project to mine for high grade copper and gold in the Bismarck Sea. The high concentration of minerals is the result of natural hot springs on the ocean floor.
While development of this project is currently in abeyance the company is pursuing the mining of polymetallic nodules in the Pacific's Clarion-Clipperton Fracture Zone (CCZ) which are formed through the precipitation of metals on the seafloor. Contractors from Germany, Korea, France and Russia are also exploring the CCZ.
Current Developments
To reduce the pressure on its land resources, China is keen to embrace underwater mining. As a result the 41stConference of the Underwater Mining Institute is taking place in October 2012 at Shanghai’s Tongji University, an event which is part-sponsored by the China Ocean Minerals Research and Development Association (COMRA)
India is also keen to join in the underwater mining race according to the UK’s Guardian newspaper. The Central Indian Basin is reputedly rich in nickel, copper, cobalt and potentially rare-earth minerals. The Guardian reports that India is constructing a rare-earth mineral processing plant in its east coast state of Orissa, spending around $US135m on a new exploration ship and retooling another in the pursuit of deep-water exploration.
Effects on the Environment
As is the case with the majority of mining exploration projects, high levels of concern prevail over the effect on the environment. It is feared that underwater mining will affect as yet undiscovered deep water organisms. Sediment plumes may also expose marine life to toxic metals that could infiltrate the food chain.
China’s ambitious plans for a future nuclear powered underwater mining station will also raise concerns among environmentalists, however, Chinese scientists have conceded that based on existing technology this may not be achievable in the foreseeable future.
Nautilus Minerals has made its positive commitment to the environment and sustainability issues very clear.
Future of Underwater Mining
Interest in underwater mining continues to grow. The International Seabed Authority is an independent organization established by the United Nations to control mining in international waters. In the past year it has reported that four new contracts were agreed with groups interested in underwater mining from Japan, Korea, Russia and China. In comparison, eight contracts were previously held, six of which were signed 12 years ago.
In their aforementioned report, Accenture Chemicals believes that technology will play a central role in the future of mining, whether that is in improving productivity and safety, developing underground reserves or in the pursuit of underwater mining.
It is clear that underwater mining is in the ascendant but much will depend on the progress made in particular by Nautilus Minerals in the next few years.