Deep-Sea Mining Nickel Can Be Used in Electric Vehicle Batteries

▲ The Metals Company (TMC) is conducting deep-sea mineral analysis work. (Photo: TMC)

The possibility of using nickel mined from the deep sea in electric vehicle batteries has been raised. The competition for deep-sea mineral exploration and development between countries and companies is expected to become even fiercer.

According to the related industry on the 3rd, the global inspection and certification organization SGS (Societe Generale de Surveillance) recently announced that the nickel mined from the Pacific seabed by the Canadian seabed mineral exploration company The Metals Company (TMC) can be used in electric vehicle batteries.

SGS stated, “We conducted a testing program on cobalt sulfate, nickel sulfate, copper cathode, and fertilizer by-products from nickel matte samples extracted in the TMC nodule refining process,” and explained, “As a result, we produced high-purity nickel sulfate suitable for the battery chemical market from polymetallic nodules.”

TMC has secured mineral exploration rights for about 150,000 km² authorized by the International Seabed Authority (ISA) through contracts with the Pacific island nations of Nauru, Tonga, and Kiribati. Presently, it is promoting the largest and second-largest undeveloped resource projects in the world. The projects contain nickel, cobalt, copper, and manganese sufficient for 280 million electric vehicles' batteries. Under the sea, nickel, manganese, and cobalt deposits are estimated to be worth $8 trillion to $16 trillion (approximately KRW 11.047 quadrillion to KRW 22.094 quadrillion).

▲ The Metals Company (TMC) Stock Information

Since 2021, TMC has promoted resource exploration near the Pacific island nation of Nauru. The Nauruan government has also decided to jointly develop with TMC and has requested the International Seabed Authority (ISA), a UN maritime regulatory agency, to establish related regulations.

There will be further competition for deep-sea mineral exploration and development as TMC opens up new possibilities for deep-sea nickel mining.

The ISA already agreed at its board meeting (36 countries) and general assembly (168 countries, including the European Union) last July to establish a legal structure for deep-sea mining by this year. However, due to the failure of related agreements among member countries, it is currently possible to apply for mining at the corporate or individual government level.

Nevertheless, the positions between countries and companies are subtly divergent. Chris Van Nijen, director of the Belgian deep-sea mining company Global Sea Mineral Resources, argued, “It is much more environmentally friendly than destroying natural environments such as tropical rainforests to extract minerals on land.”

On the other hand, France, Germany, and others have expressed opposition to mining, stating that it could potentially destroy important habitats and species in the marine ecosystem due to the lack of clear related research.