Canada has come out in opposition to mining the ocean’s depths for critical minerals without regulations or a full understanding of environmental effects.
Canada has come out in opposition to mining the ocean’s depths for critical minerals without regulations or a full understanding of environmental effects.
“In the absence of both a comprehensive understanding of seabed mining’s environmental impacts and a robust regulatory regime, Canada supports a moratorium on commercial seabed mining in areas beyond national jurisdiction and will not support the provisional approval of a plan of work.”Canada declared it would not authorize mining in domestic waters because it does not have a legal framework to permit it.
Some companies are eager to start extracting precious minerals from the deep sea that are used for increasingly in-demand green technologies like electric vehicle batteries, but dozens of countries, Canada now among them, have called for a moratorium on the practice over unresolved environmental concerns.
“The Government of Canada has been clear: seabed mining should take place only if effective protection of the marine environment is provided through a rigorous regulatory structure, applying precautionary and ecosystem-based approaches, using science-based and transparent management, and ensuring effective compliance with a robust inspection mechanism,” the ministers’ statement said.
A Canadian miner is one of those preparing to submit an application to extract metals from the deep seabed.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Week Ahead: BoC rate decision, manufacturing data - BNN BloombergA look at what investors will be watching in the upcoming week.
Read more »
Bombardier patrol planes would sport price tag 'competitive' with Boeing bid - BNN BloombergThe patrol planes Bombardier hopes could replace aging Canadian military aircraft will have a price 'competitive' with that of jets from rival Boeing, the Montreal-based company says.
Read more »
BoC expected to raise rates again this week, vying to quash inflation faster - BNN BloombergThe Bank of Canada is expected to raise interest rates again this week as forecasters say the economy has not softened enough for the central bank to back off.
Read more »
U.S. stocks struggle with inflation, growth in focus - BNN BloombergU.S. equity futures fell and European stocks wavered amid fresh worries about China’s economic recovery ahead of key American price data later this week.
Read more »
Canadian and Finnish companies to develop Ontario’s first lithium processing plant - BNN BloombergAvalon Advanced Materials Inc. is partnering with Finnish company Metso Corporation to develop the first lithium processing facility in Ontario.
Read more »
West Fraser Timber selling pulp mill in Hinton, Alta., to Mondi Group - BNN BloombergWest Fraser Timber has signed a deal to sell its unbleached softwood kraft pulp mill in Hinton, Alta., to Mondi Group, an integrated packaging and paper company.
Read more »