A NGO study indicates deep-sea mining at Solwara 1 project could carry environmental and social costs 75-90 percent lower than terrestrial mines. Oceanica environmental and social cost advantages may be even more impressive than Solwara 1. Marks the first time an environmental group has affixed a dollar value to the environmental savings that prudent seabed mining can produce. Data should help seabed mining industry develop in a manner that creates a net benefit for the environment. Study helps explain why NGO opposition to Oceanica has been almost non-existent. Oceanica can be a win for the environment and a big win for Mexican citizens.
This identification of natural capital impacts provides strong evidence that the Nautilus Solwara 1 project will have far less impact and risk associated with copper mining than existing and proposed terrestrial mines. Earth Economics environmental and societal impact analysis of Nautilus Minerals Solwara 1 project followed the methods used by the United Nations Environment Program in applying natural capital valuation. It represents the first time this methodology has been used for a seabed project, providing a cost accounting of the social and environmental impacts of a deep seabed mine in comparison with three terrestrial copper mines. It was not a close contest, with the Nautilus seabed mine, Solwara 1, beating the terrestrial mines in almost every category. The Earth Economics report was produced independently by a non-profit organization known for its expertise in natural capital accounting. Nautilus Minerals commissioned the report. Past clients of Earth Economics include the World Bank, the InterAmerica Development Bank, San Francisco Public Utilities Commission, and FEMA, among others.
Working URL: https://seekingalpha.com/article/3253335-ngo-study-points-to-environmental-superiority-of-seabed-mines
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