Norway’s parliament approved Arctic seabed mineral exploration in a vote on Tuesday, January 9, 2024. The result of the vote aligns with an agreement between the government and key opposition parties. The decision marks a significant move as Norway aims to pioneer commercial deep-sea mining. The goal is to secure crucial minerals and generate employment, despite concerns raised by environmental activists and international calls for a moratorium.
Although no specific timeline has been established, the plan involves granting companies exclusive rights to explore and potentially extract minerals from designated areas through an application process. The framework for the process is expected to mirror the established procedures for Norway’s oil and gas exploration. Matters such as taxation will be subject to later discussions, according to a statement from a policy maker to Reuters.
“We’re now going to see if this can be done in a sustainable manner. That is the step we have taken now,” said Energy Minister, Terje Aasland, in his address to the parliament.
The revised version of the government’s proposal includes stricter environmental survey requirements compared to the initially proposed regulations.
Source: Reuters
