Norway to award Arctic blocks for seabed mining in 2025 (Reuters – June 26, 2024)

OSLO, June 26 (Reuters) – Norway offered large areas of the Arctic region for its inaugural seabed mineral licensing round on Wednesday and aims to award exploration permits during the first half of 2025, the country’s energy ministry said.

Norway may become the first country in the world to start commercial deepsea mining, hoping to extract minerals needed for solar panels, wind turbines and electric car batteries needed to replace fossil fuel energy.

“The world needs minerals for the green transition, and the government wants to explore if it is possible to extract seabed minerals in a sustainable manner from the Norwegian continental shelf,” Energy Minister Terje Aasland said in a statement.

The government has previously said preliminary official resource estimates showed substantial accumulations of metals and minerals, ranging from copper to rare earth elements.

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