The article explores the limitations of deep-seafloor mining, focusing primarily on extracting nickel and cobalt from nodules while noting the abundance of other metals on land. It discusses how advancements in battery technology have diminished the demand for these metals since new alternatives, like iron and sodium, are available. The Metals Company has shifted its marketing strategies to highlight how deep-sea mining could support U.S. interests in securing critical metals as China leads in processing, suggesting that the focus should instead be on improving domestic metal processing capabilities.
Deep-seafloor mining focuses mainly on extracting nickel and cobalt from potato-sized nodules, but battery technology has evolved, making these metals less relevant.
The collapse of nickel and cobalt prices since 2022 indicates that these metals are becoming obsolete in favor of newer, cheaper battery technologies using iron, phosphorus, and sodium.
As The Metals Company pivots from battery marketing to emphasizing critical metals, the article underscores the U.S.'s potential to enhance domestic processing rather than deep-sea mining.
While China dominates the processing of nickel and cobalt, the U.S. could strengthen its supply chains by focusing on local processing and leveraging alliances for ore imports.
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