Norway's Subsea Mining Decision
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).
Resource estimates indicate around 310 million tons of offshore minerals, including 3 million tons of Rare Earth Elements.
Will this lead to a green energy boom and a profitable transition away from Norway's Oil & Gas past? Or will the Norwegian government and people come to regret making this decision?
Our cartoonist had their say.
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Phillip Gales is a serial entrepreneur who has built tech companies in various heavy industries including Oil & Gas, Construction, Real Estate and Supply Chain Logistics.
Phillip holds an MBA from Harvard Business School, and an MEng in Electrical Engineering from the University of Cambridge, specialising in Machine Intelligence.