World Business Report
What are the economic implications of deep-sea mining?
Apr 25, 2025
Gerard Barron, Chairman and CEO of The Metals Company, advocates for deep-sea mining as a crucial source of critical minerals, potentially adding $300 billion to the US economy. He discusses the balance between economic gains and environmental risks, emphasizing the importance of sustainable practices. The conversation highlights recent US policy shifts, including Trump’s executive order to boost mining, and raises questions about the ecological impact on fragile undersea ecosystems, making it a pivotal topic in today’s global landscape.
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Quick takeaways
- The Trump administration's executive order aims to enhance deep-sea mining, potentially boosting the U.S. economy by $300 billion over ten years.
- Critics argue that increased mining poses significant environmental risks, threatening marine ecosystems and biodiversity amidst the growing demand for critical minerals.
Deep dives
The Push for Deep-Sea Mining
Recent executive actions aim to accelerate deep-sea mining for critical minerals like cobalt, nickel, and lithium, which are essential for various technologies, including electric vehicles and renewable energy systems. The Trump administration believes this could significantly boost the U.S. economy by $300 billion over a decade. However, this push has ignited controversy, as critics argue it may irreparably harm undersea ecosystems and biodiversity. The ongoing debates highlight the environmental risks associated with mining operations that have potential long-lasting impacts on marine life and carbon absorption.
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