The Current Status Of Ocean Mining

Ocean miners seem prepared to commit upwards of $50 million, spread over the next 10 years, to develop a deep ocean capability. More and more large companies, Kennecott, Inco and Tenneco, to name a few, singly or through consortia, are spending money, often big money, to obtain a viable and profitable marine mining industry. Much of the current involvement of the mining industry in the oceans is concerned with either exploration for or engineering studies of manganese nodule deposits and most of it is considered highly proprietary. Thus, the scope of the total effort can only be surmised. The following provide a good indication as to the magnitude of the over-all effort: (1) Hughes Tool Co., Oil Tool Division, announced last March it has been performing engineering studies and ocean surveys (in collaboration with Global Marine, a subsidiary of Tenneco Oil) for the purpose of developing deep ocean mining equipment and techniques. As a result of these studies, Global Marine will build a 35,000-ton prototype deep sea mining ship for Hughes. (2) Deepsea Ventures, Inc. has been "assiduously compiling data on the location. depth, and composi-