A cost-benefit analysis report commissioned by the Pacific Community (SPC) and the European Union was released regarding deep sea mining being undertaken to assess various scenarios in the waters of three Pacific island countries.
Papua New Guinea is one of the three countries with massive seafloor sulphides, Cook Islands with Manganese Nodules and the Republic of Marshall Islands with rich crusts of cobalt.
The cost-benefit analysis was done by Cardno, initiated in consultation with the Pacific islands nations for a better understanding of the costs and benefits likely to be associated with deep sea mining.
“This is part of the European Union-supported Deep Sea Minerals Project to improving the governance and management of deep-sea minerals resources of 15 Pacific states,” SPC’s Deep Sea Minerals Project Manager, Akuila Tawake said.
Notably, the report found that seafloor sulphide mining in Papua New Guinea has benefits that significantly outweigh the costs.
Source: SPC Media