Amidst the global critical minerals shortage, deep-sea mining could be the answer. By some estimates, the ocean floor could contain more nickel, cobalt and REEs than all land-based reserves combined.
Take Japan for instance. It is the world's largest importer of critical minerals but supplies are not always without its challenges. Yet, as reported in June 2024, researchers from the Nippon Foundation and the University of Tokyo ascertained that there are 234 million tons of manganese nodules lying on the seabed near Minamitorishima, an island some 1,900 kilometers southeast of Tokyo. The deposits, first discovered in 2016, is a major discovery and is estimated to contain enough nickel to support Japan’s consumption for 75 years.
However, there are challenges beyond just extraction technology for industrial scale mining which is slated to begin in 2026 or 2027. Read more in the Japan Times article here.
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