Plans by a Canadian mining firm to extract ores of copper, gold and other metals from the seabed have been approved for a site in Papua New Guinea, despite environmentalists warning that the practice will wreck the marine ecosystem and could cause terrible losses.
Nautilus Minerals company has reached an agreement with Papua New Guinea’s government over the license to extract precious minerals from deep underwater in the Solwara-1 mine. The country will get a 15% stake in the project.
Speaking to BBC News, Mike Johnston, CEO of Nautilus Minerals, said, “It’s a taken a long time but everybody is very happy. There’s always been a lot of support for this project and it’s very appealing that it will generate a significant amount of revenue in a region that wouldn’t ordinarily expect that to happen.”
The practice of extracting valuable minerals from the seabed has emerged over the past few years but was initially put on hold because more research was needed on its consequences and legislation to regulate it was lacking. Around 20 licences have been approved so far for deep-sea mining projects.
Environmental campaigners have claimed that not enough is known about deep-sea ecosystems, meaning that the effects of mining this environment on fauna and flora could be devastating.
The company has said it has ensured that the site is very resilient and that the impact of extraction will be minimal. It expects the environment to recover in five to ten years.
In February, a group of scientists from the American Association for the Advancement of Science warned that a strong and clear policy framework was needed in this new sector before projects could go on, in order to avoid environmental devastation.
Photo: Derek Keats via flickr
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years