Why the U.S. is Missing out on the Race to Mine Trillions of Dollars Worth of Metals from the Ocean Floor
GSR is the deep sea exploratory division of the DEME Group, a world leader in dredging, marine engineering and environmental remediation and was recently featured on 60 Minutes.
The company holds exclusive rights, granted by the International Seabed Authority (ISA), to harvest polymetallic nodules from the seafloor in two 75,000 sqkm concessions in the Clarion Clipperton Fracture Zone (CCFZ), one concession is held directly by GSR and the other via an agreement with the Cook Islands Investment Corporation (CIIC). Additionally, GSR holds rights to harvest polymetallic nodules in 20,000 sqkm of the Cook Islands’ Exclusive Economic Zone.
Unlike terrestrial mining, in harvesting polymetallic nodules from the sea floor, there is no overburden that needs to be removed (i.e. no deforestation ), and no roads, railways or new ports are needed to export the ore. GSR believes that with the correct environmental controls, effective protection of the marine environment and a robust regulatory framework, collecting nodules from the sea floor could be a more sustainable method of meeting the world’s mineral requirements and supporting our transition to a decarbonised future.