Abstract
This paper presents the economic structure, assumptions, and relations of deep-sea mining project assessment and the results of its evaluation, based on exploration activities and research in the field of geology, mining technology, processing technology, and environmental and legislative studies. The Interoceanmetal Joint Organization (IOM) and cooperating organizations conducted a study incorporating those elements of the project that are recognized as most important for commercial viability. On the basis of formulated financial flow of operating and capital expenses of one processing technology the possible market unit price of polymetallic nodules was estimated and the result is presented in this paper. The rapidly changing economic situation, affected inter alia by the COVID-19 pandemic, is reflected in the study and updated results are based on recent changes in metal prices. Although assumptions related to mining costs need to be confirmed during pilot mining tests, promising results have been shown in the case of the use of high-pressure acid leaching processing technology (HPAL) as well as in the case of raw ore sales. A pre-feasibility study of the project will focus on the two most promising variants of the model.
Highlights
Before the commencement of deep-sea mining takes place, the research to investigate the feasibility of its phases for the purpose of different approaches and business model developments is carried out by the International Seabed Authority (ISA) contractors and stakeholders
In this paper the economic methodology results, along with the influence of technical assumptions that can be implemented during the feasibility evaluation in the case of the exploration area being the subject of Interoceanmetal Joint Organization (IOM) exploration activities, are presented
The exploration and exploitable blocks included in the IOM resource estimation with a more general view of the International Seabed Authority (ISA) exploration areas for polymetallic nodules are presented in Figures 2 and 4
Summary
Before the commencement of deep-sea mining takes place, the research to investigate the feasibility of its phases for the purpose of different approaches and business model developments is carried out by the International Seabed Authority (ISA) contractors and stakeholders. Stochastic techno-economic assessment from a contractor’s perspective for the commercial development of a deep-sea mining project was proposed in. The results we present here are based on the methodology applied to the deep-sea mining project of the Interoceanmetal Joint Organization IOM. The structure contains the analysis of the financial flow and technological developments of commercial phases of the project implementation, namely, deep-sea mining operations, metallurgical processing, and economic criteria investigations. This study presents an update, taking into account the most recent resource estimation based on data and samples collected by IOM during the latest sea expedition in 2019, as well as changes in metal prices and overall economic situation
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