Estimated Norwegian EEZ Resources
On Tuesday January 9th 2024, the Norwegian parliament voted 80-20 in favour of allowing exploration for seabed minerals in their Exclusive Economic Zone (EEZ). This was the result of years of analysis and work to quantify the size of the opportunity and the potential environmental impact of extraction.
A Resource Assessment from the Norwegian Offshore Directorate estimates around 310 million tons of offshore minerals, including around 38 million tons of Copper and 3 million tons of Rare Earth Elements:
| Sulphide Deposits (tons) |
Manganese Crusts (tons) |
Total (tons) |
|
|---|---|---|---|
| Copper | 38100000 | - | 38100000 |
| Zinc | 45000000 | - | 45000000 |
| Gold | 2317 | - | 2317 |
| Silver | 85200 | - | 85200 |
| Cobalt | 1000000 | 3058100 | 4058100 |
| Manganese | - | 185000000 | 185000000 |
| Magnesium | - | 24100000 | 24100000 |
| Titanium | - | 8400000 | 8400000 |
| Vanadium | - | 1918800 | 1918800 |
| Tungsten | - | 80300 | 80300 |
| Rare Earth Elements + Ytrrium | - | 3154200 | 3154200 |
Source:
"Resource Estimate Summary"
Norwegian Offshore Directorate
