Deep Sea Mineral Deposits Valued At $9 Trillion

Polymetallic nodules located in the region between Mexico and Hawaii are estimated to weigh 21 billion tons. Canadian company Metals Company maintains three exploration licenses in the Clarion-Clipperton Zone. The company's market capitalization has fallen to $600 million from its 2021 valuation. The zone is not under any national jurisdiction and is regulated by the International Seabed Authority. Metals Company remains a leader in this region alongside the Chinese firm Comra. Over 30 countries have called for a moratorium on such explorations until sufficient data regarding marine ecosystem damage is available. Beth Arkott, a deep-sea microbiologist, is cited regarding the environmental implications of these activities. Russia and South Korea follow China in the race for these resources. The competition is framed as a battle for energy supply security. These vehicles transport the collected nodules to the surface for processing. The initiative has already secured $1.524 billion in investment to test and scale production capabilities. The total weight of these nodules is approximately 10 times the weight of all automobiles on Earth.