Norway's Seabed Mining Dreams Face Political Delay

Norwegian start-up Green Minerals anticipates up to a 12-month delay in Norway's initial seabed mining licensing, following government suspension to gain budget support. Despite this setback, the company maintains its timeline for first ore extraction by the end of the 2020s. Regulatory and environmental preparations continue.

In a significant development, Norwegian seabed mining start-up Green Minerals announced a potential delay of up to 12 months in the country's inaugural licensing round. This follows a government decision to suspend the planned announcement in exchange for backing the annual fiscal budget.

Green Minerals confirmed that their timeline for achieving first ore extraction by the end of the 2020s remains unchanged. The delay is attributed to a leftwing environmentalist party's successful efforts to halt seabed mining plans in the Arctic, demanding license deferral for budget support.

Despite the current suspension of its deep-sea mining exploration permits, originally slated for the first half of 2025, the government continues preparatory work, focusing on regulations and assessing environmental impact. Start-ups such as Loke, Green Minerals, and Adepth, have expressed interest in bidding for the proposed licensing round.

(With inputs from agencies.)