Peter Neill is the Director of the World Ocean Observatory.
It has been some time since we’ve reflected on the issue of deep sea mining — the search for minerals of all types on the ocean floor.
We have seen already how marine resources are being over-exploited — over-fishing by international fisheries being the most egregious example, mining for sand for construction projects and the creation of artificial islands, the exploitation of coral reefs and certain marine species for medical innovations and the next cure for human diseases based on understanding and synthesis of how such organisms function.
The Deep Sea Mining Campaign, an organization based in Australia and Canada, has been following the saga of Solwara 1, proposed by Nautilus Inc. for offshore Papua New Guinea that continues to seek financing year after year since 2011.
The project is basically a kind of corporate speculation premised on the lucrative idea of the availability of such minerals conceptually in the region — indeed the company has declined to conduct a preliminary economic study or environmental risk assessment, the shareholders essentially engaged in a long odds probability wager comparable to those who invested in marine salvagers attempts to find and excavate “pay-ships” lost at sea with purported vast cargos of silver and gold.
The idea that they should be required to justify their endeavors to governments, third-world or otherwise, or to coastwise populations whose livelihood and lives depend on a healthy ocean from which they have harvested for centuries, is anathema.
For the rest of this article: http://www.huffingtonpost.com/entry/deep-sea-mining-and-the-controversial-solwara-1-in_us_5964dbe9e4b0deab7c646bb5