Companies can now legally apply for deep-sea mining permits, despite a lack of environmental protections.
, or ISA, an autonomous international organization tasked with regulating mining on the ocean floor, in waters outside any nation’s jurisdiction. On July 9, the regulatory body missed an important legal deadline to finalize those rules. Now the ISA is scrambling to complete them, or agree to a fall-back plan, before companies start applying for deep-sea mining permits.The stakes in this regulatory race are high.
A low-impact mining industry is unlikely to materialize in the absence of ISA rules governing environmental standards and oversight. However, if a company submits a commercial deep-sea mining application before the ISA completes those rules — officially called the — the agency will be legally obligated to consider the request nonetheless. Some industry watchdogs fear this will trigger a literal race to the bottom, in which companies destroy fragile seafloor ecosystems in the pursuit of profits.
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