Commodities and Futures News

Norway should call off deep sea mining plans, key ally says

2023.09.14 03:30

3/3

© Reuters. FILE PHOTO: New Black Coral species Umbellapathes litocrada is seen in this handout photo from 2015 obtained by Reuters on October 28, 2020. NOAA Office of Ocean Exploration/Handout via REUTERS/File Photo

2/3

By Nerijus Adomaitis and Victoria Klesty

OSLO (Reuters) – Norway’s minority government should withdraw its proposal to open a vast Arctic offshore area to deep sea mining and call at least a ten-year moratorium on the activity, its key backer in parliament, said.

Norway could become the first nation to make deep sea mining happen on a commercial scale if the country’s parliament approves a plan to open ocean an area larger than the United Kingdom to the new industry. The mining could provide a source for such metals as and rare earth elements for the transition away from fossil fuels.

The Labour-led government, which also includes the Centre Party, relies on a smaller leftwing party, the Socialist Left (SV), for support to pass its budget and other key policies in parliament.

“We will not vote for the proposal that the government has put forward. We think that it should be sent back to the government,” Lars Haltbrekken, SV’s spokesman on energy and environment, told Reuters.

“We would like to have a moratorium for at least ten years so that we can find out more (about the environmental consequences) before we start digging for minerals on the seabed,” he added.

Haltbrekken said SV was still discussing a list of its demands for the upcoming fiscal budget, to be presented on Oct. 6.

He did not say whether SV would make support for the government’s budget conditional on the issue.

The government could still win the approval with support from the main opposition Conservative party, which initiated the opening process in 2020, as well as the right-wing Progress Party.

Still, Haltbrekken said deep sea mining was “high on our agenda” and “an important issue for us”.

In 2021, SV blocked the government’s plans to conduct oil and gas exploration licensing round in frontier areas.

Parliament is set to discuss the government’s bill this autumn, although a specific date for debates has yet to be set.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 94,002.19 1.53%
ethereum
Ethereum (ETH) $ 2,649.92 4.74%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.42 4.17%
bnb
BNB (BNB) $ 633.48 2.35%
solana
Solana (SOL) $ 152.15 8.81%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.224654 6.78%
cardano
Cardano (ADA) $ 0.715973 6.18%
staked-ether
Lido Staked Ether (STETH) $ 2,646.42 4.67%
tron
TRON (TRX) $ 0.245224 0.81%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 93,933.17 1.59%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,165.47 5.59%
chainlink
Chainlink (LINK) $ 16.15 7.63%
stellar
Stellar (XLM) $ 0.314115 3.91%
avalanche-2
Avalanche (AVAX) $ 23.03 6.40%
sui
Sui (SUI) $ 3.03 8.04%
litecoin
Litecoin (LTC) $ 121.68 4.39%
hedera-hashgraph
Hedera (HBAR) $ 0.212273 1.94%
the-open-network
Toncoin (TON) $ 3.56 4.87%
leo-token
LEO Token (LEO) $ 9.53 2.19%
usds
USDS (USDS) $ 0.996017 0.41%
shiba-inu
Shiba Inu (SHIB) $ 0.000014 6.60%
mantra-dao
MANTRA (OM) $ 8.14 3.05%
weth
WETH (WETH) $ 2,650.76 4.74%
polkadot
Polkadot (DOT) $ 4.65 6.17%
hyperliquid
Hyperliquid (HYPE) $ 20.94 10.86%
bitcoin-cash
Bitcoin Cash (BCH) $ 305.74 5.63%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.05%
bitget-token
Bitget Token (BGB) $ 4.74 4.04%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,809.05 4.83%
uniswap
Uniswap (UNI) $ 8.31 7.17%
monero
Monero (XMR) $ 232.57 0.38%
whitebit
WhiteBIT Coin (WBT) $ 27.40 0.17%
near
NEAR Protocol (NEAR) $ 3.27 2.68%
pepe
Pepe (PEPE) $ 0.000009 6.03%
bittensor
Bittensor (TAO) $ 428.81 2.47%
dai
Dai (DAI) $ 0.999771 0.01%
aave
Aave (AAVE) $ 229.27 6.20%
aptos
Aptos (APT) $ 5.69 6.43%
ondo-finance
Ondo (ONDO) $ 1.04 6.67%
internet-computer
Internet Computer (ICP) $ 6.68 4.48%
susds
sUSDS (SUSDS) $ 1.04 0.07%
tokenize-xchange
Tokenize Xchange (TKX) $ 37.44 1.29%
official-trump
Official Trump (TRUMP) $ 14.85 6.58%
ethereum-classic
Ethereum Classic (ETC) $ 19.45 5.16%
mantle
Mantle (MNT) $ 0.840523 7.80%
okb
OKB (OKB) $ 46.51 4.48%
gatechain-token
Gate (GT) $ 22.17 4.51%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 93,913.16 1.64%