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Several developed countries, including the U.K., have pledged carbon neutrality by 2050. To achieve this aim, there needs to be a significant increase in the adoption of renewable energy and green technologies.

The transition to a greener economy is driving a surge in demand for metals such as nickel, copper and cobalt, which are crucial to green technology. Without an increase in the supply of the required metals, transitioning to a low-carbon economy is impossible.

The United States Geological Survey estimates that the deep sea hosts greater quantities of nickel and cobalt than all land reserves combined. Deep sea mining could therefore provide an answer to the currently predicted supply shortfall of critical metals.

However, deep sea ecosystems remain understudied, resulting in unknown and potentially grave environmental risks. It is also yet unclear under what legal framework deep sea mining operations might take place.

The aim of this seminar is to explore these problems and shine a light on a potentially crucial component to a low-carbon future.

Chair:

Mr Ian Coles

Ian Coles is partner at the London law firm Mayer Brown and his work concentrates on all aspects of bank and debt finance. He has vast experience in the mining finance sector and heads Mayer Brown’s Africa and Mining practices. Ian also provides critical advice to governments and ministries on the development of the mining industry in their jurisdictions. He has been described as “perhaps the most experienced mining finance lawyer in the City” by Legal 500 2021.

Panellists:

Mr Michael Lodge

Michael Lodge was elected as Secretary-General of the International Seabed Authority (ISA) in 2016. With almost 30 years of experience as a public international lawyer, he has a formidable background in the field of marine law and has published and lectured extensively on the international law of the sea. With extensive knowledge of the United Nations and other leading international organisations, Michael has facilitated high-level negotiations at international and regional levels. His significant achievements include a pivotal role in the founding of ISA, helping to create and implement the first international regulatory regime for seabed mining and acting as an adviser to the Commission on international law of the sea and ocean policy.

Ms Eleanor Martin

Eleanor Martin is an accomplished banking and finance lawyer based in the London branch of the global law firm Norton Rose Fulbright. The firm operates in more than 50 cities worldwide and provides the world’s preeminent corporations and financial institutions with a full business law service and is recognised for its industry focus. Eleanor has detailed experience including advising on offshore equipment financing and asset finance matters such as deep sea mining and was recognised by Chambers UK 2017 as a leading individual for offshore finance.

Prof. Craig Smith

Craig Smith is a Professor of Oceanography at the University of Hawai’i, USA, and leads the Smith Lab which focuses on benthic ecology. He has strong interests in biodiversity, disturbance ecology, and human impacts in seafloor ecosystems and is a Pew Fellow in Marine Conservation. He has led 66 oceanographic research expeditions from the equator to Antarctica, including 8 to study biodiversity in areas targeted for deep sea mining. He has published in excess of 200 scientific papers on seafloor ecology, biodiversity, climate-change impacts, and the design of marine protected areas. His recent Abyssal Baseline Project was part of an international program that used the best available technology to undertake benthic biological baseline studies."

Mr Hamish Wallace

Hamish Wallace is an engineer and acting as a representative for the British engineering firm OSBIT which specialises in the global oil & gas, subsea and renewable sectors with an emphasis on reducing the environmental impact of such practices. The company was founded a decade ago by Dr Tony Trapp MBE who is widely regarded as one of the UK’s leading offshore engineers. Utilising their extensive experience in the development of subsea solutions, they are pioneering the collection of minerals from seabed surfaces claiming that their equipment is the most environmentally viable solution currently on the market and is highly scalable and is proven to offer efficient and reliable recovery. They have recently secured government investment to expand this venture.