DTN 030: Deep Sea Gold Rush

Deep-Sea Mining Could Begin Soon, Regulated or Not

“Trillions of black, potato-size rocks known as polymetallic nodules are strewn across the Clarion-Clipperton Zone seafloor. The nodules contain valuable metals, including cobalt, copper and nickel needed for electric vehicles; rare earth elements crucial for clean energy technologies; and smaller amounts of lithium, in high demand for batteries. Surveyors expect the overall tonnage across the CCZ to be substantial, in some cases higher than the sources now mined on land. Big machines would scrape the seafloor, scooping up nodules while kicking up clouds of sediment, potentially damaging the deep sea on a vast scale by removing habitat and species and altering ecosystems. No one has yet scoured the deep sea commercially, but exploration is happening in national and international waters…and a Vancouver-based start-up called The Metals Company (TMC) is pushing to start mining the CCZ in 2024.” (Scientific American)

How a half-trillion dollars is transforming climate technology

“One year ago, the Inflation Reduction Act was signed into law, marking the most significant action on climate change to date from the federal government. The legislation set aside hundreds of billions of dollars to support both new and existing technologies—from solar panels and heat pumps to batteries for electric vehicles—in an effort to slash costs for clean technologies and cut greenhouse gas emissions that cause climate change. Since the IRA was passed on August 16, 2022, companies have collectively announced $76 billion in investments for facilities based in the US. And while the list of planned projects includes sites that will produce components for solar panels, wind turbines, and electricity transmission equipment, the majority of announcements have been for companies that are part of the EV and battery supply chains.” (MIT Tech Review)