Deep-sea mining ‘seems to be inevitable,’ UN regulator says, as fight for critical minerals heats up

Published

9 months ago

February 19, 2024

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Activists at a “Look Down action” rally to stop deep sea mining, outside the European Parliament in Brussels on March 6, 2023.

Kenzo Tribouillard | Afp | Getty Images

It’s likely only a matter of time before scraping the ocean floor for valuable metals becomes a reality, according to the head of the International Seabed Authority, the U.N. regulator that oversees deep-sea mining.

Michael Lodge, secretary-general of the ISA, told CNBC that global interest in deep-sea mining has climbed to levels not seen since the 1970s, with advocates clearly excited by the industry’s potential role in the energy transition.

“One of the main drivers of industrial interest is the potential to produce larger quantities of minerals at equivalent or lower cost to what can be produced on land,” Lodge told CNBC via videoconference.

“That’s the commercial driver and certainly there is vast resource potential in seabed minerals. The question is whether they can in the end be produced economically,” he added.

“But the resource potential is absolutely there. This is clear. The technology is advanced, so it seems like it is possible. And at the same time, it is very clear also that demand for minerals is increasing exponentially and is only going to continue to increase.”

His comments come as the ISA prepares to recommence talks on deep-sea mining in Kingston, Jamaica next month. The seabed watchdog’s forthcoming session will seek to iron out a regulatory framework that, if adopted, would give the go-ahead to deep-sea mining on a commercial scale.

Established 30 years ago, the ISA regulates mining and related activities in an area that covers around 54% of the world’s oceans. The group consists of 168 member states and the European Union. The U.S. is not a member of the ISA.

It hasn’t been done yet so it is very hard to say conclusively that it would be as destructive as some people claim that it would be.

Michael Lodge

Secretary general of the International Seabed Authority

The controversial practice of deep-sea mining involves using heavy machinery to remove minerals and metals — such as cobalt, nickel, copper and manganese — that can be found in potato-sized nodules on the ocean floor. The end-use of these minerals are wide-ranging and include electric vehicle batteries, wind turbines and solar panels.

Scientists have warned that the full environmental impacts of deep-sea mining are hard to predict. Environmental campaign groups, meanwhile, say the practice cannot be done sustainably and will inevitably lead to ecosystem destruction and species extinction.

Marine ecosystems

Notably, Norway’s parliament recently voted to approve a government proposal to open a vast ocean area for deep-sea mining on a commercial scale. The decision signaled the Nordic country’s intention to begin deep-sea mining activities in its national waters near the Svalbard archipelago.

To be sure, Norway’s government does not intend to immediately start drilling for minerals. Instead, mining companies will need to submit proposals for licenses that will be voted on a case-by-case basis in parliament.

When asked whether it was now likely a matter of time before countries begin deep-sea mining, ISA’s Lodge replied, “Clearly now, we are reaching a very high level of interest so I would say that yes it seems to be inevitable.”

“Whether that takes place in international waters, or in national waters, whether that be Norway or another country, that’s impossible to say,” he added. “It depends in part upon the terms and conditions I suppose.”

Environmental activists calling for an international moratorium on deep-sea mining.

Sopa Images | Lightrocket | Getty Images

The ISA Council, a body composed of 36 member states, has previously said it intends to continue its work on deep-sea mining regulations, with a view to finalizing the measures by July 2025.

To date, 24 countries worldwide have called for a moratorium or pause on the industry, while multinational companies such as Google, Samsung and Volvo have pledged not to source any minerals from the seabed.

Marine ecosystems are not well understood. Campaigners fear that exploration and exploitation activities in the deep sea could permanently alter a home that is unique to known — and many as yet unknown — species.

“It hasn’t been done yet so it is very hard to say conclusively that it would be as destructive as some people claim that it would be,” the ISA’s Lodge said.

“It is a very deliberate and slow process. Exploration has been going on in excess of 30 years now, so a great deal of information and data has been gathered. The technology is still developing, the more recent results of technology tests have been extremely encouraging in terms of being actually very low impact compared to other forms of mining.”

‘Desperate situation’

The world’s fast-growing appetite for energy transition minerals shows no sign of slowing down.

Nonetheless, the International Energy Agency has warned that today’s supply falls short of what is needed to transform the energy sector. That’s because there’s a relatively high geographical concentration of the production of many energy transition elements.

Norwegian Energy Minister Terje Aasland told CNBC last month that the government’s decision to move forward with deep-sea mining marked a necessary step into the unknown that could help to break China’s and Russia’s rare earths dominance.

“We’re in a fairly desperate situation,” Lodge said, citing the IEA’s expectation that demand for critical minerals is set to increase rapidly in the coming years.

“We’re nowhere close to meeting those targets at the moment with current land-based reserves. Even with the rapidly increased production that’s taking place in countries like Indonesia, we’re still nowhere close,” he added. “And permitting times, for example, in North America, for a new mine are in the order of more than a decade so it is very difficult.”

Environment

Honda deploys Peterbilt 579EV electric semi out of Alabama plant

Published

4 hours ago

November 19, 2024

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Honda deploys Peterbilt 579EV electric semi out of Alabama plant

Honda Alabama plant launches pilot program aimed at electrifying transportation of cars

A new, all electric Peterbilt 579EV is in-service at Honda’s Lincoln, Alabama assembly plant, where it’s busy transporting newly-built Honda cars from the plant to a nearby railhead for shipment to dealers across the country.

Part of a pilot program between Honda, Alabama Power, and Virginia Transportation Corp., the new electric semi truck will help stakeholders gather data about the practicality and performance of the battery-powered Pete and use it to generate case studies for broader electrification initiatives. Other supporters of the pilot project include the Alabama Clean Fuels Coalition and, of course, Peterbilt.

“We remain committed to delivering for our customers and the environment,” offered Leo Doire, owner and CEO of Virginia Transportation Corp. “Our new Peterbilt 579EV model will be tested to determine how well it performs against the high productivity demands of our operations. The partners we have at the table will help us maximize this opportunity and prepare to scale up if we get the results we are hoping for.”

The truck itself has been spec’ed to be perfect for the kind of short haul and drayage applications Honda has in mind. This particular Peterbilt 579EV is fitted with PACCAR’s 400 kWh battery and a 670 hp electric motor good for an impressive 2,050 lb-ft of peak torque at 0 rpm.

The truck offers 150 miles of operating range and can be charged in about 3 hours on a 120 kW charger installed specifically for that purpose. A charger, it should be noted, that was partially paid for by Alabama Power.

“Alabama Power’s ‘Make Ready’ program provides businesses with valuable rebates to help reduce the upfront costs of installing EV infrastructure,” says Alabama Power Electric Transportation Manager Hasin Gandhakwala. “We are committed to partnering with customers who are exploring state and federal grant opportunities. Alabama Power is dedicated to advancing EV technologies to better serve the needs of our customers.”

The electric semi is a continuation of a decarbonization project Honda initiated in 2011, when the company recruited Virginia Transport Corp. to help find ways to reduce emissions at its Alabama facilities. VTC’s efforts have led to changes that displaced more than 475,000 gallons of diesel in 2023 alone.

Electrek’s Take

Peterbilt 579EV at Alabama Honda plant; via Alabama Power.

With the big Pete’s 82,000 lb. GVWR and 150 miles of range between charging sessions, it seems like these guys will be making a lot of back-and-forth runs between the Honda plant and the CSX terminal to me. Here’s hoping they see the benefits of electrifying the rest of their vehicle transport fleets somewhat sooner than later.

SOURCE | IMAGES: Alabama Power.

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Environment

Solar and storage projects make headlines, but will they survive? (Interview)

Published

4 hours ago

November 19, 2024

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Solar and storage projects make headlines, but will they survive? (Interview)

On today’s episode of Quick Charge, we’ve got big solar breaking ground all over, despite the incoming administration’s supposed lack of love for home-grown clean energy. Our guests today walk us through home solar, energy storage, and more.

Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations sitewide. Learn more by clicking here.

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Environment

Tesla turns to its ‘Tesla Electric’ utility service to help sell cars

Published

5 hours ago

November 19, 2024

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Tesla turns to its 'Tesla Electric' utility service to help sell cars

Tesla is now using ‘Tesla Electric’, its electric utility service in Texas, to help sell cars with a new incentive.

After gaining experience through its virtual power plants (VPPs), Tesla took things a step further with the launch of “Tesla Electric” back in 2022.

Instead of reacting to specific “events” and providing services to your local electric utilities, as Tesla Powerwall owners have done in VPPs in California, Australia, and a few other markets, Tesla Electric is actively and automatically buying and selling electricity for Tesla Powerwall owners – providing a buffer against peak prices.

The company is essentially becoming an energy retailer.

Tesla Electric is currently only available to Powerwall owners in Texas and the UK, but the company has plans to expand its products through this new division.

The company has been growing its Tesla Electric userbase in Texas and now it plans to use it to help sell cars.

Tesla has two different plans under the program:

Feature	Tesla Electric Fixed Plan	Tesla Electric Dynamic Plan
Pricing Structure	Competitive fixed rate for electricity, with a discounted rate during low-cost hours.	Competitive variable rate, with higher rates during peak demand periods.
Contract Term	12-month commitment.	Month-to-month flexibility.
Unlimited Vehicle Charging	Available for an additional $15/month per vehicle, allowing unlimited charging.	Available for an additional $25/month per vehicle, allowing unlimited charging.
Powerwall Credits	Earn $400 credit per year per Powerwall by participating in the Tesla Virtual Power Plant, with Tesla managing the Powerwall to share energy with the grid when needed.	Earn $120 credit per year per Powerwall by participating in the Tesla Virtual Power Plant, with the customer managing the Powerwall to optimize earnings.
Energy Sharing with Grid	Sell energy back to the grid at a fixed rate per kWh.	Sell energy back to the grid at 90% of the real-time market price per kWh.

The first one enable you to charge your electric car for just $15 a month.

With this new incentive, Tesla is brining that down to $5 a month for a year for people who take delivery by the end of the year:

Get $5/mo Unlimited Overnight Charging With Tesla

To get unlimited overnight charging for $5 per month per vehicle for a full year, you must complete the following steps by December 31, 2024:

Order and take delivery of a new Tesla vehicle

Sign up for the Tesla Electric Fixed Plan

To be eligible, you need to live in an area of Texas that allows you to choose your electricity provider, be a new Tesla Electric member and take delivery of a new Tesla vehicle. Promotion is subject to change at any time.

This appear to be part of Tesla’s effort to deliver a record number of more than 515,000 vehicles in Q4 in order for its annual deliveries not to be down for the full year.

ver the last few weeks, we have been reporting on a series of sale incentives that Tesla has put in place to make sure it has the demand to achieve this record quarter.

In Europe, it includes a year of free Supercharging and heavy discounts.

In the US, there are also good inventory discounts, 3 months of free Supercharger and FSD, FSD transfer, and more.

And everywhere, Tesla is heavily subsidizing loans with lower interest rates.

But it’s the first time that Tesla is using such a targeted incentive, at the state level, and using its Tesla Electric program.

It’s interesting.

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