The possibility of using nickel mined from the deep sea in electric vehicle batteries has been raised. Competition among countries and companies in the exploration and development of deep-sea minerals is expected to intensify.
According to the related industry on the 3rd, the global inspection and certification organization SGS (Societe Generale de Surveillance) recently announced that the nickel mined from the Pacific seabed by the Canadian seabed mineral exploration company The Metals Company (TMC) can be used in electric vehicle batteries.
SGS stated, “We conducted a testing program on cobalt sulfate, nickel sulfate, copper cathode and fertilizer by-products from nickel matte samples extracted from TMC’s nodule refining process,” and explained, “As a result, we produced high purity nickel sulfate suitable for the battery chemical market from polymetallic nodules.
TMC has secured International Seabed Authority (ISA) approved mineral exploration rights for approximately 150,000 km² through agreements with the Pacific Island nations of Nauru, Tonga and Kiribati. It is currently advancing the world’s largest and second largest undeveloped mineral projects. The projects contain enough nickel, cobalt, copper and manganese to power 280 million electric vehicle batteries. Undersea nickel, manganese and cobalt deposits are estimated to be worth $8 trillion to $16 trillion (approx. KRW 11.047 trillion to KRW 22.094 trillion).
Since 2021, TMC has been promoting resource exploration near the Pacific island nation of Nauru. The Nauruan government has also decided to develop with TMC and has asked the International Seabed Authority (ISA), a UN maritime regulatory agency, to establish regulations.
There will be further competition for deep-sea mineral exploration and development as TMC opens up new opportunities for deep-sea nickel mining.
The ISA already agreed at its 36-nation board meeting and 168-nation general assembly (including the European Union) last July to establish a legal structure for deep-sea mining by this year. However, due to the lack of relevant agreements among member countries, it is currently possible to apply for mining at the level of companies or individual governments.
Still, the positions of countries and companies are subtly different. Chris Van Nijen, director of Belgian deep-sea mining company Global Sea Mineral Resources, argued, “It is much more environmentally friendly than destroying natural environments such as tropical rainforests to extract minerals on land.
On the other hand, France, Germany, and others have opposed mining, stating that it could potentially destroy important habitats and species in the marine ecosystem due to a lack of clear research.
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