Deep-sea mining is about to commence in the waters off of Papua New Guinea. Other South Pacific nations are eager to follow suit. In addition, the International Seabed Authority has awarded 17 leases for minerals exploration in the high seas.
This presentation, given by the Nicholas Institute's Linwood Pendleton, examines the conditions under which deep-sea mining, and other types of deep-sea extraction, may yield a net positive impact on society. As part of the Conservation Economics Initiative, Pendleton will guide webinar participants through the economic costs and benefits of deep-sea mining. He will explore the role of environmental costs associated with deep-sea mining and alternative sources of minerals, including terrestrial mining and better recycling. Finally, Pendleton will discuss the role of re-investment, restoration, and the economic justification for dramatically increasing current scientific funding devoted to understanding deep-sea ecosystems.