The Approaching Maturity Of Deep Ocean Mining-The Pace Quickens

A large number of firms and institutions have evaluated possibilities of mining the manganese nodule source, beginning with a major effort in 1957-58. There have been as many as ten commercial firms actively engaged in major programs of engineering and development, including Deepsea Ventures/Tenneco, Hughes Tool Co., Kennecott Copper Corp. and Ocean Resources, Inc. Foreign firms active in the field are International Nickel CO., Sumitomo Group/MITI, AMR (a joint venture of three West German companies-Metallgesell- schaft AG, Preussag and Salzgitter AG), and Societe le Nickel (CNEXO). It is estimated that it will take from 11 to 19 years for the more successful ventures to reach operational levels. Investment Costs and Rates of Return Five different programs, all from public sources, have been studied to analyze dollar figures regarding investment costs and the possible return on these costs. All are based on a unit of production of a million tpy of dry nodules through the processing plant, which is considered the minimum likely capacity. The costs are not always comparable, and with some liberties, have been forced into two categories. The first covers mining and sea-related costs. The second will include the onshore processing and other costs such as administrative and distribution figures. The costs in all cases are for complete ventures extending from prospecting through mining, processing and distribution of several metals and other products derived from the nodules. All costs are joint product costs, making certain comparisons with land mining difficult.