Cook Islands activists confront the EV Nautilus upon its return to Rarotonga, holding banners reading 'Don't Mine The Moana.' Photo: Supplied / Greenpeace
Research commissioned by Greenpeace, showing that deep sea mining in the Cook Islands is unlikely to make any money, is being rejected by the country's government.
The research, performed by Trytten Consulting Services in October last year, reviewed the economic potential of polymetallic nodules in the Cook Islands' seabed.
It looked at the likelihood of generating profit through the two main ways of seabed nodule recovery - dredging and picking - both of which are yet to be used on a commercial mining scale.
Taking into account available market data, the analysis found it was more likely than not that the ultimate economic return for Cook Islands nodules would be negative.
"Although it is possible that an economic collection and processing system could be derived, analysis of the projected plans by two leading proponents, coupled with analysis of the available market structure suggest that it is more likely than not that the ultimate economic return for Cook Islands nodules would be negative," the research stated.
The Cook Islands Seabed Minerals Authority has estimated there are 6.7 billion tonnes of wet polymetallic nodules in the country's Exclusive Economic Zone (EEZ).
These contain minerals like cobalt and nickel, used in a range of products including smartphones, electric batteries, and weapons.
Prime Minister Mark Brown has billed the developing industry as a potential stream for generational prosperity, however the prospect of deep sea mining in the country's waters has divided Cook Islanders - locally and abroad.
In 2022, Brown's government issued exploration licenses to three deep sea mining companies - one of which is part-owned by the Cook Islands government.
These exploratory licenses were due to end in February 2027, but in November the Cook Islands Seabed Minerals Authority (SMBA) extended the licenses for another five years.
The longer exploration licence period effectively pushed out the decision regarding commercial deep sea mining in the country's EEZ until at least 2032.
"As the licence holders have not yet completed their approved plans of work, they will be required to apply for renewal of their exploration licences for a further five-year period if they wish to continue," SMBA commissioner Beverly Stacey-Ataera told Cook Islands News at the time.
Edward Herman, director of partnerships and cooperation at SMBA, said the government understands from the companies which have exploration licenses that "eventual commercial development has a real chance of being economic".
He noted the companies were making "real, major investments" and that the government wanted any research to be "independently checked".
"Our current licence holders were vetted for technical competency, and they almost certainly know more than anyone else about the potential cost versus revenue of their projects, given their specific insight and work done in their exploration scope," Herman said.
"The level of studies required by the Cook Islands government are based on international standards resulting from decades of project development and learnings from thousands of projects both onshore and offshore.
"Nonetheless, before any minerals harvesting could be licenced, Government has a requirement for a much more detailed and complete report, than that of Greenpeace's, which will be independently checked."
Juressa Lee, Greenpeace Aotearoa seabed mining campaigner, reiterated the need to carefully examine the business-case and environmental risks of deep sea mining in Cook Islands.
"Scientific warnings are crystal clear: deep sea mining will damage the oceans and harm biodiversity," she said.
"Millions of people across the world, including people in the Cook Islands, are concerned about the threats posed by this industry. When you add the major financial risks, it's hard to understand why anyone is still pushing this industry at all."
