World Bank urges Pacific to be cautious over experimental seabed mining

nautilus robot machine

Radio New Zealand | 28 April 2016

A new report by the World Bank says Pacific Island countries should be cautious over any plans for mining of the seabed.

Released today, the ‘Precautionary Management of Deep Sea Mining Potential’ report recommends that Pacific countries supporting or considering deep sea mining activities proceed with a high degree of caution to avoid irreversible damage to their ecosystems.

It also stresses the need for strong governance arrangements to ensure that appropriate social and environmental safeguards are in place.

Papua New Guinea, Fiji, Tonga, Vanuatu and Solomon Islands have all granted permits for deep sea mining exploration and the Cook Islands recently undertook a minerals exploration tender process.

PNG is the only country in the region to have granted a license for ocean floor mining.

It has given approval for the Canadian miner Nautilus minerals to launch its Solwara 1 Project in PNG waters in 2018.

A recent report by the Pacific Community and the European Union said seabed mining could see PNG reap economic benefits of US$80 million over two years.

But the World Bank said not enough was known about the environmental and social impacts of the enterprise and likewise the appropriate fiscal regime and economic benefit to deep sea mining were not yet clearly understood.

5 Comments

Filed under Environmental impact, Financial returns, Papua New Guinea

5 responses to “World Bank urges Pacific to be cautious over experimental seabed mining

  1. Karis

    So the EU is no longer a so called climate warrior or green power…has forgotten its own precautionary principle. Shame on the EU.

  2. Hi , PNG its a rich country with many big minings going up but look .country is sort of money.how does a rich country sort of money .PNG government what’s wrong with it ..hear what is world bank saying to PNG .oh PNG enough of borrowing oversea funds!!!

    I.iceman Lee.
    Ncd..

  3. Moses Wininga

    Thanks for the World bank to remind the Papua New Guinea Policy Makers so that they consider these necessary checklist requirements before actual work to avoid problems in future.

  4. Libo Idufanoa

    The EU has fast tracked SBM in the Pacific by influencing the SPC. Both came up already with a Legislative framework on DSM in the Pacific. A piece of work with countless flaws and loop holes. PNG government must listen to those they represent and stop Nautilus now. That should nip SBM in the bud from spreading to other pacific relatives.

    Libo
    S.I

  5. Pingback: Are Nautilus plans for experimental seabed mining dead in the water? | Papua New Guinea Mine Watch

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