FAQs – Page 5 – Impossible Metals

Q: Myth #8: Deep sea mining will not replace terrestrial mining.

Recently, most of Australia’s nickel mines have been placed into care and maintenance , due to low nickel prices and competition from Chinese-operated mines in Indonesia. The extra supply of Indonesian low-cost nickel caused the global prices to decrease, resulting in high-cost Australian mines becoming uneconomical. When low-cost deep sea minerals come to market, this new supply will cause the global nickel price to decrease further. In addition to the high-cost producers, the mid-cost producers will also become uneconomical and will close. As a result, deep sea mining will start to replace terrestrial mining, although it will never replace it 100%. It will also make it very unlikely that new terrestrial mines will open. Policy can also make a difference. In the U.S., for example, the Uyghur Forced Labor Prevention Act has made significant strides in prohibiting the importation of goods into the United States manufactured wholly or in part with forced labor in the People's Republic of China. If more countries had secure domestic supplies of critical minerals, it would strengthen their ability to take similarly aggressive action against goods manufactured with minerals mined with forced labor or from rainforests.

Q: Myth #7: Deep sea mining could harm vital fisheries.

Communities with long traditions and deep economic ties to fishing are understandably concerned about potential impacts on fish. Fortunately, deep sea mining takes place miles away from fish, and has been shown to avoid impacts that could disturb fish—especially with Impossible Metals’ approach. Fisheries stocks are not present on the deep ocean abyssal plains where we find polymetallic nodules. Local sediment disturbance has been shown not to rise more than a few meters, many kilometers (or miles) away from phytoplankton (food for fish), which need light for photosynthesis. Impossible Metals has no riser system with a midwater discharge plume, so this will not impact phytoplankton photosynthesis. Potential fisheries impacts will be confirmed by scientists as part of the Environmental Impact Assessment (EIA) before permission is granted to start mining. See more details in the ISA Fact-check 2024/2 – Status of fishing activities in the Area .

Q: Myth #5: Deep sea mining is economically risky.

Because deep sea mining involves such incredible technology, capable of operating in one of the universe’s most demanding environments, some assume that it will be economically risky. And it is true that all first-of-their-kind projects employ more risks than established industries. However, the rising demand for critical minerals and the surprisingly low costs of deep sea mining—particularly with Impossible Metals’ innovations—make it a potentially significant new industry. The demand for critical metals is enormous and growing. In 2025, the total market for nickel, copper, cobalt, and manganese is approximately $450 billion per year, and is projected to reach $650 billion by 2030. The cost to mine and process nickel using Impossible Metals technology is expected to be approximately 10x less expensive than the average land-based mine in 2024. For more details on why costs are so low, please see this blog post: Why Will Deep Sea Mining Be Less Expensive Than Traditional Land-Based Mining? In our latest concept economic model (v7) , we demonstrate how ‘Project 1’ will collect 6.7 million metric tonnes of nodules per year, generating $4 billion in revenue and a net profit of $1 billion per year. This is while leaving undisturbed 30% of the nodules by mass (60% by quantity, selecting the largest nodules).

Myth #8: Deep sea mining will not replace terrestrial mining.

Myth #7: Deep sea mining could harm vital fisheries.

Myth #6: Countries representing millions globally are against deep sea mining.

Myth #5: Deep sea mining is economically risky.

Myth #4: Deep sea mining causes significant and irreversible damage.

Myth #3: The deep ocean has a similar amount of life as the shallow ocean.

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