A Norwegian study has found a “substantial” amount of metals and minerals ranging from copper to rare earths on the seabed of its extended continental shelf, authorities said on Friday in their first official estimates.
These resources are in high demand for the role they play in the transition to a greener economy.
The Nordic country, a major oil and gas exporter, is considering whether to open its offshore areas to deep-sea mining, a process that requires parliament’s approval and has sparked environmental concerns.
“Of the metals found on the seabed in the study area, magnesium, niobium, cobalt and rare earth minerals are found on the European Commission’s list of critical minerals,” the Norwegian Petroleum Directorate (NPD), which conducted the study, said in a statement.
The resources estimate, covering remote areas in the Norwegian Sea and Greenland Sea, showed there were 38 million tonnes of copper, almost twice the volume mined globally each year, and 45 million tonnes of zinc accumulated in polymetall