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Global Marine Technology Trends 2030 Ocean Space
Economy The development of industrial-scale processes for extracting valuable minerals from deep ocean resources entails potentially high expenditure during procurement and operation. Price fluctuations in the global mineral market may cause concerns over the potential risks associated with investing in this new industry and its supply chain. Policies and Environment The environmental impacts from deep ocean mining, such as water pollution, noise, ocean floor degradation and disturbances to deep ocean habitats, will need to be limited and regulated for the realisation of this technology. Knowledge regarding the deep ocean environment will need to be acquired, analysed and monitored. Therefore, subsea exploration with autonomous systems is a key enabler for the advancement of deep ocean mining technologies. Mitigation The International Seabed Authority (ISA), which has an observer status at IMO, outlines a set of comprehensive rules, regulations and procedures that regulates prospecting, exploration and extraction of marine minerals in the international ocean space. The ISA has issued licences to contractors for the seabed exploration for polymetallic nodules, polymetallic sulphides and cobalt-rich ferromanganese crusts, showing strong incentive for the development of this industry.