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Risk Assessment for Deep-Seabed Mining

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Perspectives on Deep-Sea Mining

Abstract

Uncertainties concerning deep-seabed mining relate to the expected impacts on the abyssal benthic and pelagic environment and its ecosystems but also include geopolitical, economic, societal and cultural uncertainty. The uncertain impacts from mining lead to anxiety and a low societal acceptance for the activity and are not the same for everybody at the same time. Hence, uncertainty is an important element of the risk involved in deep-seabed mining. This chapter describes the different risks involved, develops a methodology for risk assessment for the exploitation of marine mineral resources that takes into consideration the state of knowledge and evolving research on deep-sea ecosystems, and informs on possible environmental threshold values in relation to deep-seabed mining operations.

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Notes

  1. 1.

    Part of this paragraph is an adapted and shortened version of the text contained in Haeckel et al. (2020) 328, 334, 335, 337 and 338.

  2. 2.

    The Capital asset pricing model is a model pricing uncertain future financial claims (e.g., expected profits). This model is an equilibrium model of financial trading, resulting in an equilibrium required rate of return demanding only estimates on the expected risk-free interest rate, the market rate and the investment’s beta value (β). For an overview, see Bodie et al. (2012).

  3. 3.

    It should be noted that this excludes pecuniary externalities, that is, an externality is present if it affects the productivity of, say, a nearby fishery, not if deep-seabed mining activities affect the profitability of, e.g., terrestrial mining activities.

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Acknowledgements

All authors acknowledge the support of the Joint Programming Initiative Healthy and Productive Seas and Oceans through the MiningImpact2 project ‘Environmental impacts and risks of deep-sea mining’. JL is grateful to Øyvind Fjukmoen and Line Sverdrup for their support. MH and AV are grateful to Felix Janssen and Sabine Kasten for their support. EvD, MH and AV acknowledge funding from the German Federal Ministry of Research (BMBF grant no. 03F0812A-H). NM is thankful for the support from Fundação para Ciência e Tecnologia (FCT) and Direção-Geral de Política do Mar (DGPM) (Mining2/2017/001); FCT (CEECIND005262017, UI/350/2020). FS is thankful for funding from Research Council, Norway.

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Authors and Affiliations

  1. Walther Schücking Institute for International Law, Kiel University, Kiel, Germany

    Erik van Doorn

  2. DNV, Oslo, Norway

    Jens Laugesen

  3. GEOMAR Helmholtz Centre for Ocean Research Kiel, Kiel, Germany

    Matthias Haeckel

  4. Centre for Marine and Environmental Research (CIMA), Universidade do Algarve, Faro, Portugal

    Nélia Mestre

  5. SNF—Centre for Applied Research at Norwegian School of Economics (NHH), Bergen, Norway

    Frode Skjeret

  6. Marine Resource Exploration, Federal Institute for Geosciences and Natural Resources, Hannover, Germany

    Annemiek Vink

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  1. Erik van Doorn
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Correspondence to Erik van Doorn .

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  1. Former Chief Scientist and Consultant, National Institute of Oceanography, Dona Paula, Goa, India

    Rahul Sharma

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van Doorn, E., Laugesen, J., Haeckel, M., Mestre, N., Skjeret, F., Vink, A. (2022). Risk Assessment for Deep-Seabed Mining. In: Sharma, R. (eds) Perspectives on Deep-Sea Mining. Springer, Cham. https://doi.org/10.1007/978-3-030-87982-2_17

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