Norway's Subsea Mining Decision

Will Norway regret their decision to allow mining for subsea minerals in their exclusive economic zone

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. Originally from the UK, he now lives in Toronto, Canada, with his wife and young family.

Phillip holds an MBA from Harvard Business School, and an MEng in Electrical Engineering from the University of Cambridge, specialising in Machine Intelligence.