SINGAPORE - Only one company - Ocean Mineral Singapore - has been granted a licence here to conduct exploration studies for deep sea mining of metals like copper and rare earth minerals, and it has complied with all regulations and guidelines, said the Ministry of Trade and Industry (MTI).
The company - a subsidiary of Keppel Offshore & Marine - was granted an exploration licence under the Deep Seabed Mining Act 2015. It has signed an exploration contract with the International Seabed Authority (ISA) with Singapore as the sponsoring state, said Minister for Trade and Industry Gan Kim Yong in a written reply to parliamentary questions on Tuesday (Aug 2).
The possible environmental impacts of deep sea mining had come to the fore during the United Nations Ocean Conference which was held in Lisbon, Portugal in June this year.
Singapore is among a number of countries like Germany, South Korea and the United States, which are in support of it, stating that doing so would be necessary for a transition to clean energy.
The Deep Seabed Mining Act 2015 makes provisions for deep seabed mining and for connected purposes.
The ISA was established under the United Nations Convention on the Law of the Sea (Unclos) and the Implementation Agreement to regulate deep seabed mining and related activities in the areas of the seabed, ocean floor and subsoil, which are beyond the limits of national jurisdiction.
Mr Gan said the contract was awarded after the ISA was satisfied that Ocean Mineral Singapore had met its qualification criteria, including having financial and technical capabilities to fulfil environmental and other obligations.
Ocean Mineral Singapore collaborated with the Keppel-NUS Corporate Laboratory on two expedition trips in 2015 and 2020 to conduct an environmental baseline study of the Clarion-Clipperton Zone (CCZ) in the Pacific Ocean, within an approved area of 58,000 sq km which is about 80 times of Singapore's size.
The zone, which spans 4.5 million sq km between Hawaii and Mexico, is said to contain about 21 billion tonnes of metals like copper, nickel, cobalt and manganese as well as rare earth minerals.
Mr Gan noted that Ocean Mineral Singapore has collected and analysed biological, geological and oceanographic data, which has been published in research papers and reported to the ISA.
He added that the company's annual reports, which cover various aspect...