Roche and Feenan in 2013 raised the question: Could the world’s hunger for metals and minerals, and state strategies for securing access to them, propel the development of deep sea mining? Identifying the drivers of a Pacific deep sea minerals industry requires a global perspective on metals demand, an understanding of the forces influencing the mining and minerals industry, and a regional perspective on need and opportunity in the Pacific. The combined picture is complex, with high levels of uncertainty, due to the dynamic and often interrelated nature of the drivers. Long-term decreasing metal industry productivity, falling ore grades, and increased costs, combined with increased environmental, social, and cultural expectations for sustainability, create an opportunity for deep sea minerals as an alternate source of metal supply (along with reuse
and recycling). Across the Pacific Islands region, there is widespread and recognized need for alternative economic development to overcome poverty and meet the rising aspirations of Pacific islanders. Running counter to this is an increasingly vocal concern about impacts and a lack of communal benefit from development projects.
The focus of this chapter is the primary drivers of deep sea mining in the Pacific, with a shorter discussion on secondary drivers and the restrictive forces operating in the region. Investigating these drivers provides an objective framework for improved understanding of the forces behind the industry, leading to better decision making. This investigation, like the industry, is in its infancy. Further work is required to better inform Pacific Island states of the factors influencing the future of the industry.
While there may well be environmental and social advantages to seabed mining in comparison to terrestrial mining, this remains to be tested in practice. However, the global focus on sustainability is unlikely to change. If the deep sea mining industry can prove its green credentials, it might secure better access to markets, access to essential finance, or even a higher price for a premium product.
In conclusion, there are significant, but not insurmountable, challenges to overcome before the deep sea mining industry is recognized as economically viable or as a sustainable industry that can make a positive contribution to Pacific Island communities. While deep sea mining represents a new opportunity for Pacific Island states, the situation will continue to be dominated by strong external influences over the key drivers. When combined with uncertainty and variability, this means Pacific Island states have little direct influence over many of the drivers of deep sea mining. At the same time, however, there is some significant enthusiasm within Pacific Island states for deep sea mining and the contribution it could make to Pacific development. There are some factors that these countries can control and that will help the industry progress. They include continued knowledge sharing and the development of capacity and governance structures (including regional mechanisms) to ensure a stable and transparent environment that encourages industry participation.
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