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Despite its stranglehold on mining and processing, there’s one arena of critical minerals that China doesn’t control – underwater resources.
That’s because in 2021, ISA member Nauru triggered a two-year countdown for the body to either solidify regulations, or to allow mining with whatever guidance is in place. The island nation is the sponsor state for exploration licences held by the world’s most advanced seafloor miner in waiting, The Metals Company.
Norway doesn’t plan to start mining right away, and says much more study is needed before it would consider granting exploitation licences. While its wealth is based on offshore oil and gas, the nation has a pro- gressive reputation as a leader on environmental protection and climate action. Still, the apparent contradiction had some scratching their heads.
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