Join our crew and become one of the 106,981 members that receive our newsletter.

Norway’s Aker BP May Explore for Seabed Minerals

FILE PHOTO: Greenpeace activists from New Zealand and Mexico confront the deep sea mining vessel Hidden Gem, commissioned by Canadian miner The Metals Company, as it returned to port from eight weeks of test mining in the Clarion-Clipperton Zone between Mexico and Hawaii, off the coast of Manzanillo, Mexico November 16, 2022. REUTERS/Gustavo Graf/File Photo

Norway’s Aker BP May Explore for Seabed Minerals

Total Views: 955
September 20, 2023

OSLO, Sept 20 (Reuters) – Norway’s second-largest listed oil and gas company, Aker BP, said it would consider applying for licenses to mine minerals from the seabed if parliament approves a plan for such exploration.

Norway could become the first country to start commercial deep sea mining if parliament gives the go-ahead to explore the remote Mid-Atlantic ridge for minerals such as copper, cobalt and rare earth elements, in a vote expected early next year.

“If parliament opens (oceans for seabed mining), we will consider applying for licenses,” Aker BP CEO Karl Johnny Hersvik told Reuters on the sidelines of an energy conference in Oslo on Wednesday.

Aker BP has a group of about 10 people working on seabed minerals.

“We are currently monitoring the situation. We still need to understand whether it can be economic, and how to explore,” Hersvik added.

Norway’s government says deep sea mining could help Europe reduce its dependence on China for the supply of critical minerals needed to build electric vehicle batteries, wind turbines and solar panels.

The move is controversial with conservationists, who warn that mining the ocean floor would threaten the biodiversity of vital ecosystems.

Mineral-rich massive sulphide deposits have been formed by so-called hydrothermal vents along mid-ocean ridges, where unique species are also found living near active vents.

“If there’s a ‘go’ for seabed minerals, we will definitely not target the active hydrothermal wells, because of potential environmental impact,” Hersvik said.

So far, several Norwegian seabed mineral startups, such as Green Minerals and Loke Marine Minerals, have said they would seek permits to explore Norwegian waters.

Loke, established in 2019, has attracted Anglo-French engineering firm TechnipFMC and shipping company Wilhelmsen, as investors.

But Aker BP would be by far the biggest player, if it goes ahead. It is also a part of the larger Aker group, which includes oil service company Aker Solutions.

“We are looking at seabed minerals as part of the whole group,” Aker Solutions CEO Kjetel Digre told Reuters.

(Reporting by Nerijus Adomaitis, editing by Terje Solsvik and Sharon Singleton)

(c) Copyright Thomson Reuters 2023.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up


Maritime and offshore news trusted by our 106,981 members delivered daily straight to your inbox.

gCaptain’s full coverage of the maritime shipping industry, including containerships, tankers, dry bulk, LNG, breakbulk and more.