Blue (Marine) Minerals

What they are

Blue or marine minerals are solid minerals that are found at the beds of the ocean. Apart from fossil fuels resources such as oil, gas and methane hydrates, the ocean beds are beholden of massive amounts of other valuable solid minerals. The most common are phosphorates, polymetallic sulphurs, ferromanganese crusts, (ferro) manganese nodules, rare earth elements, yttrium and aggregate mineral resources such as sand, gravel and crushed rock. Amongst these, the blue minerals which are generating the strongest commercial interest are Cobalt, copper, lead, gold, Nickel, zinc, silver, platinum group metals, the rare earths and Yttrium.

Where they are found and mined

Marine (blue) minerals are found both in the shallow coastal waters and in the international waters of the oceans. EEZs constitute the maritime territory where nation states have exclusive exploitation rights for blue mineral resources. It is here that commercial mining of marine minerals could take place under the domestic laws and regulations of a country. The mining of marine minerals in international waters is under the purview of the International Seabed Authority (ISA).  Permissions have to be applied for and exploration licenses obtained from them, as they are the sole authority for such concessions

Why they are important

Minerals are the key drivers of industrialization. As the economies of more countries rebound and industrialization increases, the demand for minerals also increases.  Naturally, this drives up the prices of the in-demand minerals. Unfortunately, the earth’s land mineral wealth is finite.  Additional to this, in many producer countries, the demands of conservation, shortages of land for other activities such as agriculture, and state politics which regulates or restrict production, puts pressures the availability of many important minerals. This causes price surges and supply chain risks. Sadly, while prices of minerals are increasing, fewer land discoveries are being made. This gives impetus to both national governments and the private sector to search for alternate sources. Hence attention of industry and governments is zeroing in on the potential mineral riches of ocean beds.Thus, it is the combination of rising commodity prices and the desire to secure the future needs for minerals that is compelling the search for minerals to go beyond the land-based sources. Factually, the ocean beds have a high potential for marine mineral resources to support a secure supply of raw materials for the world’s industries.

Mining blue (marine) minerals

Technological advancement and scientific innovations are beginning to make the mining of ocean bed minerals possible. Advancements in technology, such as the deep-sea oil exploration and drilling systems are now also being adapted to enable the surveying and mining of ocean bed minerals.  These cutting-edge technologies are now catalyzing the development of deep seabed mining