Norway, a leader in deep-water mining, has suspended its plans to issue extraction licenses for mining on the sea floor. The decision follows a move by the Socialist Left Party (SV), a small environmentalist party, which blocked the announcement of permits in parliament as part of an agreement to pass the government’s budget. The SV demanded that the government cancel its first licensing round for deep-sea mining in exchange for its support for the budget.
Kirsti Bergsto, leader of the Socialist Left Party, confirmed the decision, emphasizing that the party had successfully used its negotiating power to halt the licensing process for deep-sea mining of minerals. This decision comes after extensive budget negotiations, with the agreement securing passage of the budget through parliament.
Norway, with its wealth in hydrocarbon reserves, has long been one of the world’s richest nations and a leader in extracting metals from the ocean floor. These metals are in high demand, particularly as Europe moves away from fossil fuels. Norway had planned to open vast areas of the Arctic for deep-sea mining in 2025, following parliamentary approval in January. However, the recent agreement means the licensing round is now canceled, although preparatory work, including environmental impact mapping and regulation creation, will continue.
