China has secured rights from the International Seabed Authority to explore and mine the seabed and is eager to begin mining operations but currently lacks the technological resources and expertise that its rivals possess.
Nautilus Minerals has faced some tough times over the past 12 months, its difficulties mainly related to a commercial dispute between the company and the government of Papua New Guinea (PNG) that arose in June 2012.
The Cook Islands hopes to transform itself into one of the world's richest countries within a decade by sending robots to the sea floor to collect minerals that it believes are worth tens of billions of dollars.
It may be understandable that a terrestrial primate such as ourselves would pay little attention to a world so foreign, inaccessible, and inhospitable as the deep sea, but with growing threats to the region, it's time we do so.
The increasing price of precious metals has prompted mineral prospectors to consider unusual places, including a renewed interest in deep seabed mining and the emergence of an asteroid mining industry.
After decades of dreaming and scheming, companies say they’re finally ready to start mining the bottom of the world’s oceans for valuable minerals. Christopher Werth reports from London on one company’s plans, how environmental scientists view the prospect of digging up the sea floor, and how Howard Hughes and the CIA helped pave the way.
The prospect of a deep sea "gold rush" opening a controversial new frontier for mining on the ocean floor has moved a step closer. The United Nations has published its first plan for managing the extraction of so-called "nodules" - small mineral-rich rocks - from the seabed.