Summary
A recent RAND report examines the potential impacts of establishing a global seabed mining industry on critical mineral supply chains and geopolitics. The study finds that seabed mining could significantly diversify sources of essential minerals like nickel and cobalt, which are vital for energy transition and defense technologies, potentially reducing reliance on dominant suppliers such as China. However, the U.S. currently lacks a clear strategy for participating in this emerging industry. The report also highlights that while seabed mining might lower metal prices, benefiting consumers, it could adversely affect the economies of developing nations dependent on terrestrial mining revenues. Furthermore, the emergence of seabed mining raises concerns about environmental impacts, regulatory challenges, and geopolitical tensions, particularly in regions like the Indo-Pacific. The authors recommend that the U.S. government develop a coordinated approach, including establishing an interagency working group, to address these multifaceted issues and to engage with international partners to ensure equitable and sustainable development of seabed mining activities.
Read the report here.
