JOHANNESBURG, Nov 8 (Reuters) – Fortescue Metals (FMG.AX) executive chairman Andrew Forrest on Tuesday said his charitable foundation is in favour of a pause on seabed mining, the first time a prominent mining executive has spoken out against the nascent industry.
Forrest said the Minderoo Foundation, which he and his wife Nicola fund with the dividends they get from Fortescue, will back a pause until there’s sufficient evidence that damage to ocean environments can be prevented.
Seabed mining would involve vacuuming up potato-sized rocks rich in battery metals that blanket vast swathes of the sea floor at depths of 4-6 kilometres, and are especially abundant in the north Pacific Ocean.
Mining the seabed in areas outside national jurisdiction cannot begin until the International Seabed Authority, a U.N. body based in Jamaica, decides on regulations governing the industry.
For the rest of this article: https://www.reuters.com/business/cop/australian-mining-magnate-forrest-calls-ban-seabed-mining-2022-11-08/#:~:text=JOHANNESBURG%2C%20Nov%208%20(Reuters),out%20against%20the%20nascent%20industry.