Japan discovers up to $26.29 billion in cobalt and nickel
Japan’s recent discovery of significant nickel and cobalt deposits has the potential to reshape the countries position in the global resource supply chain. Found near Minami-Tori-Shima Island, an island 1200 miles from Tokyo, these underwater nodules hold promise for Japan economic future.
This discovery, made by a joint team from the Nippon Foundation and the University of Tokyo, has revealed 610,000 metric tons of cobalt and 740,000 metric tons of nickel. Current estimates place the value of these metals at roughly $26.29 billion. The deposits spread across an area of the seabed and reaches depths of 5,200 and 7,400 meters, all within Japan’s Exclusive Economic Zone. These materials are vital components for producing electric vehicle batteries, wind turbines and other advanced technologies. These discoveries could significantly reduce Japan’s dependence on cobalt and nickel imports.
The plan is to begin extracting materials by 2025. However, there are significant environmental implications to a deep-sea mining operation in this region. It is estimated that up to 40% of marine life could be destroyed based on existing studies on deep sea mining. Geopolitically this could give an edge as countries compete for critical materials for technology.
Similarly, Norway has identified vast mineral deposits within its Exclusive Economic Zone in the Norwegian and Greenland seas. Rich in cobalt, copper, and earth elements these deposits could meet global demands for years. Norwegian companies Loke Minerals and Green Minerals are two companies that have applied for licenses. Norway plans to award its seabed exploration licenses by 2025. There have been applications for a variety of blocks covering 280,000 square kilometres, with Green Minerals nominating four specific areas for themselves.
According to the Norwegian Petroleum Directorate, Norway’s continental shelf contains an estimated 38 million metric tons of copper alongside cobalt and rare earth metals. Estimated values for copper is around $8,000 per ton, cobalt $35,000 per ton, and with other rare earth metals the potential value could be from $600 billion to over $1 trillion, depending on recoverable quantity and operational feasibility. These figures are an estimation and real economic benefits for Norway are yet to be accurately estimated.
If successfully developed, these resources could diversify Norway’s traditional reliance on oil and gas. However, the challenges including environmental concerns, technological hurdles and high costs associated with deep sea mining are yet to be addressed. Timelines suggest that mining might not begin until the 2030s.
Japan Discovers $26.29 Billion in Cobalt and Nickel
Japan’s recent discovery of significant nickel and cobalt deposits near Minami-Tori-shima Island, about 1,200 miles from Tokyo, could reshape its position in the global resource supply chain. These underwater nodules hold immense promise for Japan’s economic future.
The discovery, made by a joint team from The Nippon Foundation and the University of Tokyo, has identified 610,000 metric tons of cobalt and 740,000 metric tons of nickel, with a combined estimated value of approximately $26.29 billion. These deposits are located on the seabed at depths between 5,200 and 7,400 meters, entirely within Japan’s Exclusive Economic Zone (EEZ). These metals are critical for producing electric vehicle batteries, wind turbines, and other advanced technologies, and their extraction could significantly reduce Japan’s dependence on imports.
Environmental and Geopolitical Implications
Japan plans to begin extracting these materials by 2025, but significant environmental concerns accompany this initiative. Studies suggest that up to 40% of marine life in affected areas could be destroyed due to deep-sea mining activities. Balancing economic gain with environmental stewardship will be essential. Geopolitically, this discovery could provide Japan with a strategic edge in the competition for critical materials necessary for modern technology and renewable energy transitions.
Norway’s Vast Mineral Deposits
Similarly, Norway has identified extensive mineral reserves within its EEZ in the Norwegian and Greenland Seas. These deposits are rich in cobalt, copper, and rare earth elements, with the potential to meet global demand for years. Norwegian companies, including Loke Minerals and Green Minerals, have already applied for licenses to explore these areas. Norway plans to award its first seabed exploration licenses by 2025, covering 280,000 square kilometers. Green Minerals has nominated four specific areas for exploration.
Resource Estimates and Economic Potential
According to the Norwegian Petroleum Directorate, Norway’s continental shelf contains an estimated 38 million metric tons of copper, alongside significant quantities of cobalt and rare earth metals. Based on current market prices:
• Copper: Approx. $8,000 per ton
• Cobalt: Approx. $35,000 per ton
This positions the estimated value of Norway’s mineral resources at $600 billion to over $1 trillion, depending on recoverable quantities and operational feasibility. These figures highlight the substantial economic potential of Norway’s seabed resources.
Challenges and Future Outlook
If successfully developed, these resources could diversify Norway’s economy, reducing its reliance on oil and gas. However, several challenges remain, including environmental concerns, technological hurdles, and high extraction costs. The timeline for mining suggests operations may not begin until the 2030s, given the need for extensive exploration, environmental studies, and technology development.
Both Japan and Norway’s discoveries illustrate the growing importance of seabed mining in securing critical materials for the global energy transition. While these initiatives hold significant economic promise, they also underscore the pressing need to address environmental and ethical concerns to ensure sustainable resource extraction.
This discovery, made by a joint team from the Nippon Foundation and the University of Tokyo, has revealed 610,000 metric tons of cobalt and 740,000 metric tons of nickel. Current estimates place the value of these metals at roughly $26.29 billion. The deposits spread across an area of the seabed and reaches depths of 5,200 and 7,400 meters, all within Japan’s Exclusive Economic Zone. These materials are vital components for producing electric vehicle batteries, wind turbines and other advanced technologies. These discoveries could significantly reduce Japan’s dependence on cobalt and nickel imports.
The plan is to begin extracting materials by 2025. However, there are significant environmental implications to a deep-sea mining operation in this region. It is estimated that up to 40% of marine life could be destroyed based on existing studies on deep sea mining. Geopolitically this could give an edge as countries compete for critical materials for technology.
Similarly, Norway has identified vast mineral deposits within its Exclusive Economic Zone in the Norwegian and Greenland seas. Rich in cobalt, copper, and earth elements these deposits could meet global demands for years. Norwegian companies Loke Minerals and Green Minerals are two companies that have applied for licenses. Norway plans to award its seabed exploration licenses by 2025. There have been applications for a variety of blocks covering 280,000 square kilometres, with Green Minerals nominating four specific areas for themselves.
According to the Norwegian Petroleum Directorate, Norway’s continental shelf contains an estimated 38 million metric tons of copper alongside cobalt and rare earth metals. Estimated values for copper is around $8,000 per ton, cobalt $35,000 per ton, and with other rare earth metals the potential value could be from $600 billion to over $1 trillion, depending on recoverable quantity and operational feasibility. These figures are an estimation and real economic benefits for Norway are yet to be accurately estimated.
If successfully developed, these resources could diversify Norway’s traditional reliance on oil and gas. However, the challenges including environmental concerns, technological hurdles and high costs associated with deep sea mining are yet to be addressed. Timelines suggest that mining might not begin until the 2030s.
Japan Discovers $26.29 Billion in Cobalt and Nickel
Japan’s recent discovery of significant nickel and cobalt deposits near Minami-Tori-shima Island, about 1,200 miles from Tokyo, could reshape its position in the global resource supply chain. These underwater nodules hold immense promise for Japan’s economic future.
The discovery, made by a joint team from The Nippon Foundation and the University of Tokyo, has identified 610,000 metric tons of cobalt and 740,000 metric tons of nickel, with a combined estimated value of approximately $26.29 billion. These deposits are located on the seabed at depths between 5,200 and 7,400 meters, entirely within Japan’s Exclusive Economic Zone (EEZ). These metals are critical for producing electric vehicle batteries, wind turbines, and other advanced technologies, and their extraction could significantly reduce Japan’s dependence on imports.
Environmental and Geopolitical Implications
Japan plans to begin extracting these materials by 2025, but significant environmental concerns accompany this initiative. Studies suggest that up to 40% of marine life in affected areas could be destroyed due to deep-sea mining activities. Balancing economic gain with environmental stewardship will be essential. Geopolitically, this discovery could provide Japan with a strategic edge in the competition for critical materials necessary for modern technology and renewable energy transitions.
Norway’s Vast Mineral Deposits
Similarly, Norway has identified extensive mineral reserves within its EEZ in the Norwegian and Greenland Seas. These deposits are rich in cobalt, copper, and rare earth elements, with the potential to meet global demand for years. Norwegian companies, including Loke Minerals and Green Minerals, have already applied for licenses to explore these areas. Norway plans to award its first seabed exploration licenses by 2025, covering 280,000 square kilometers. Green Minerals has nominated four specific areas for exploration.
Resource Estimates and Economic Potential
According to the Norwegian Petroleum Directorate, Norway’s continental shelf contains an estimated 38 million metric tons of copper, alongside significant quantities of cobalt and rare earth metals. Based on current market prices:
• Copper: Approx. $8,000 per ton
• Cobalt: Approx. $35,000 per ton
This positions the estimated value of Norway’s mineral resources at $600 billion to over $1 trillion, depending on recoverable quantities and operational feasibility. These figures highlight the substantial economic potential of Norway’s seabed resources.
Challenges and Future Outlook
If successfully developed, these resources could diversify Norway’s economy, reducing its reliance on oil and gas. However, several challenges remain, including environmental concerns, technological hurdles, and high extraction costs. The timeline for mining suggests operations may not begin until the 2030s, given the need for extensive exploration, environmental studies, and technology development.
Both Japan and Norway’s discoveries illustrate the growing importance of seabed mining in securing critical materials for the global energy transition. While these initiatives hold significant economic promise, they also underscore the pressing need to address environmental and ethical concerns to ensure sustainable resource extraction.
