An independent study commissioned by Greenpeace International has called into question the economic feasibility of deep-sea mining for polymetallic nodules in the Cook Islands, suggesting that claims of significant economic gains are largely overstated. The report emphasizes that when factoring in costs, market conditions, and technical challenges, the potential for economic losses in seabed mining becomes apparent.
Juressa Lee, a seabed mining campaigner for Greenpeace Aotearoa, expressed strong concerns regarding the unsubstantiated assertions made by mining companies aiming for social acceptance in the Cook Islands. She noted that these companies’ claims fail to withstand scientific evaluation, with warnings about the adverse effects deep-sea mining could have on marine ecosystems and biodiversity.
The Greenpeace study critically assesses the practicality of harvesting these so-called “golden apples,” a term employed by Cook Islands Prime Minister Mark Brown to describe the nodules. It highlights that the extraction technologies required for deep-sea mining are not yet commercially proven. Operating at depths significantly deeper than the Deepwater Horizon incident poses substantial challenges to reliable extraction processes.
Financial analyses indicate that the expected operating costs at such profound depths may equal or even exceed the nodules’ projected market value, raising questions about the commercial viability of these ventures. Additionally, the report critiques the lack of processing facilities capable of turning the nodules into market-ready metals, revealing that establishing new plants and supply chains would involve prohibitive technical and financial risks.
Market prospects for cobalt and manganese, essential elements within the Cook Islands nodules, appear particularly grim. The study estimates that the potential market value of these nodules falls between US$100 and $140 per dry tonne, significantly lower than necessary to support a sustainable mining industry.
This analysis comes at a crucial juncture as Belgium’s Global Sea Mineral Resources (GSR), a leading entity in deep-sea mining, plans to divest its projects in the Cook Islands and shift focus to operations within the Clarion-Clipperton Zone (CCZ). Local reports suggest that GSR may sell its stake in the joint venture Cobalt Seabed Resources (CSR) to an American firm called Wetstone, which lacks a well-established public reputation.
Lee reiterated the strong connection between Pacific Island nations and their marine environments, cautioning that the movement toward deep-sea mining jeopardizes this relationship. She underscored the resolute opposition to seabed mining in the Cook Islands and the broader Pacific region, asserting that local communities will not be marginalized by foreign corporations seeking to impose exploitative practices on their ancestral territories.
Greenpeace is advocating for a united stance among Pacific Island governments to ban deep-sea mining in their waters and is calling for a global moratorium at the International Seabed Authority to protect the oceans, which are essential for the cultural, economic, and environmental well-being of Pacific peoples.
The findings of this study highlight the urgent need for stringent environmental protections and reflect a community commitment to preserving ocean health for future generations. The ongoing debate regarding deep-sea mining in the Cook Islands serves as a crucial reminder of the complex challenges surrounding resource extraction in fragile ecosystems and the necessity of prioritizing sustainable practices and responsible governance.