Unlocking the Oceans’ Wealth

In the remote expanses of the Pacific Ocean, a new kind of gold rush is stirring — only this time, the treasures lie four kilometers beneath the surface. Rich in metals critical for the clean energy revolution, the deep sea has quietly become the latest frontier of resource extraction.

But as excitement builds, so does concern. Scientists warn of irreversible damage to ecosystems that have existed for millions of years. Policymakers remain divided. And companies poised to profit find themselves caught between urgent climate goals and growing environmental alarm. The rising stakes of ocean mining are drawing business leaders, governments, and activists into one of the most complex, high-risk resource battles of the century.

A Race Without Rules?

The target is a hidden bounty: polymetallic nodules scattered across the seabed, especially in an area of the Pacific known as the Clarion-Clipperton Zone (CCZ). These potato-sized rocks are packed with nickel, cobalt, manganese, and copper — metals crucial for electric vehicle batteries, renewable energy grids, and advanced electronics.

According to the International Energy Agency (IEA), demand for minerals like nickel and cobalt is projected to rise by nearly 500% by 2050 to meet global climate targets. Land-based mining alone may not satisfy this surge. The ocean floor, it seems, offers a tempting solution. The Clarion-Clipperton Zone alone holds more nickel, cobalt, and manganese than all known reserves on land combined, according to a 2023 report by the Deep Ocean Stewardship Initiative.

“We are about to industrialize an ecosystem we barely understand.”

— Kristina Gjerde, Marine Policy Expert

The International Seabed Authority (ISA) — the UN-affiliated body responsible for regulating mining in international waters — has spent years trying to finalize a "Mining Code." But under pressure from industry and governments, timelines have accelerated.

In 2021, the Pacific nation of Nauru invoked a little-known clause — the "two-year rule" — forcing the ISA to accept applications even if the Mining Code remains incomplete. That deadline expired in 2023, and now, companies like The Metals Company (TMC), a Canadian firm, are pushing aggressively to start operations by 2025. Meanwhile, other countries — including China, Russia, Japan, and India — have secured exploration contracts, viewing the deep sea as a strategic resource critical to their energy security.

Environmental Risks: What We Could Lose

The promise of metals comes at a heavy cost. Recent expeditions in the Clarion-Clipperton Zone revealed over 5,000 new species, most of them unique to the deep-sea environment. Crabs, sponges, worms, and strange gelatinous creatures — many yet unnamed — thrive among the nodules.

Mining would mean scraping vast swaths of the seabed, destroying habitats that took millions of years to form. Scientists warn of:

Massive biodiversity loss: Once the nodules are removed, recovery could take thousands of years — if it happens at all.
Sediment plumes: Mining would stir up clouds of fine particles that could spread hundreds of kilometers, smothering marine life.
Carbon disruption: The deep seabed stores vast amounts of carbon; disturbing it could undermine efforts to combat climate change.

A 2024 study by the University of Exeter found that deep-sea mining could reduce carbon storage capacity by up to 30% in affected areas — a hidden climate risk few policymakers have fully considered.

“We think of the deep ocean as out of sight, out of mind,” says Dr. Diva Amon. “But it plays a vital role in keeping the planet habitable.”

Key Numbers:

500% — Projected rise in demand for critical minerals like cobalt and nickel by 2050 (IEA)
5,000+ — New species discovered in the Clarion-Clipperton Zone
30+ — Countries supporting a moratorium or pause on deep-sea mining
4,000 meters — Average depth where seabed mining would occur
$30 billion+ — Estimated market value of deep-sea mineral resources
2025 — Deadline for ISA to finalize international mining regulations

Growing Global Divisions

As commercial readiness nears, the world remains deeply split. More than 30 countries, including France, Germany, Chile, and Canada, have called for a moratorium or pause on deep-sea mining until environmental safeguards are stronger. In a 2024 address, French President Emmanuel Macron urged the world to "ban deep sea mining until science proves it safe."

On the other side, countries like China, Russia, Nauru, and Tonga argue that mining must proceed to support economic development and meet urgent energy needs. In 2024, China partnered with the Cook Islands to develop seabed resources, further intensifying competition across the Pacific. Corporate divisions are also emerging. Major brands like BMW, Volvo, Google, and Samsung pledged not to use deep-sea minerals until environmental impacts are better understood, while The Metals Company and others continue lobbying for swift approvals.

Business at the Crossroads

For companies and investors watching from the sidelines, deep-sea mining presents a risky dilemma. On one hand, securing critical minerals is essential for the global clean energy transition. Shortages could slow EV rollouts, battery production, and renewable energy expansion. The World Bank estimates that mineral demand for energy technologies could reach 3 billion tons by 2050.

On the other hand, reputational risks loom large. Public scrutiny of environmental practices is rising. Activist campaigns, shareholder resolutions, and ESG regulations mean companies tied to deep-sea mining could face significant backlash.

"The environmental uncertainties are massive — and the brand risks are real."

— Tom Butler, Former Head, International Council on Mining and Metals

Some companies are exploring alternatives like urban mining (recovering metals from electronic waste) and battery recycling — though current solutions are unlikely to fully meet future demand in time.

Indigenous Voices and a Moral Reckoning

Perhaps the most powerful opposition comes from Pacific Island communities — those closest to the regions targeted for mining. In speeches at ISA meetings, traditional leaders from Fiji, Samoa, and French Polynesia warned that mining the deep sea would be like "digging up the graves of our ancestors." For them, the ocean is not just a resource; it is history, culture, and life.

“We are ocean people. The deep is where the souls of our ancestors live,” said one elder from French Polynesia. “Disturb it, and you disturb everything we are.”

The Road Ahead for Deep Sea Mining

The ISA has set July 2025 as the target to finalize its mining regulations. If agreement is reached, the world could see the first commercial deep-sea mining operations within two years. Yet major hurdles remain. Consensus among member states is fragile, environmental concerns continue to grow, and new legal challenges loom. If companies bypass international governance, a fractured regulatory landscape could emerge — exposing businesses to reputational and geopolitical risks.

For investors, policymakers, and executives, the message is clear: deep-sea mining is no longer a distant theoretical debate. It is becoming a defining issue of how the global economy manages the balance between innovation, resource security, and environmental responsibility.

As the race accelerates, the oceans — long shielded by their remoteness — are rapidly becoming central to global resource strategy. How leaders respond now will not only shape markets but could leave a legacy far deeper than the ocean floor itself.

Explore ESG Solutions on our marketplace - OneStop ESG Marketplace.

Keep abreast of the top ESG Events on OneStop ESG Events.

OneStop ESG Educate: Your go-to source for top ESG courses and training programs tailored to your needs.