Minerals Report - International Seabed Authority

Another scenario according to Dr. German is where hydrothermal
fluids erupt from the mid-ocean ridge close to the edge of continental margins
and sediment erosion and deposition completely buries the ridge axis. This
would indicate extensive massive sulphide deposit activity forming at depths
within the sediments, offering well-focused and accessible forms of deposits.
11. A comparison of possible economic returns from mining deep
seabed polymetallic nodules, seafloor massive sulphides and cobaltrich
ferromanganese crusts
Mr. Jean-Pierre Lenoble’s presentation was on a comparison of the
possible economic returns from mining deep-sea polymetallic nodules,
polymetallic massive sulphides and cobalt-rich ferromanganese crusts. At the
outset of his presentation, he pointed out that the presentation was based on
certain geological and statistical assumptions. His evaluation was also based
on the research and data collected by French groups.
After a brief description of the characteristics of the deep-sea deposits
and technologies that can be used for their exploitation, Mr. Lenoble made
comparison of the three types of de[posits on the basis of the value of a tonne
of in situ ore. The economics of mineral deposits, he stated, is related to the
profitability of the operation. Any feasibility study will need to take into
account the characteristics of the mineral deposits, suitable technology to
mine it, processing technology, commodity prices and the requirements for
the protection of the environment. From a miner’s point of view, he stated
that the resource must become a profitable reserve for economic viability. He
stated that the present level of knowledge on deep-sea mineral deposits is
insufficient to define reserves.
In his presentation, he noted that the comparison was between three
types of resources, namely, deep-sea polymetallic nodules, cobalt-rich
ferromanganese crusts deposits and polymetallic sulphides deposits. The
parameters for the evaluation were two-fold; evaluation of the tonnage and
metal content and secondly, the state of art of mining and processing
technologies. After a brief description of the discoveries and research on the
three types of resources, Dr. Lenoble referred to metal prices and trends in the
metal markets from 1960 to the present, in respect of the most important
INTERNATIONAL SEABED AUTHORITY 43