Dubai Telegraph - Leaders warn race for minerals could turn seabed into 'wild west'

EUR -
AED 4.232438
AFN 81.7399
ALL 97.895927
AMD 444.690649
ANG 2.06248
AOA 1056.812299
ARS 1342.051944
AUD 1.776305
AWG 2.07444
AZN 1.963769
BAM 1.955319
BBD 2.326228
BDT 140.905351
BGN 1.956255
BHD 0.434593
BIF 3431.056288
BMD 1.152467
BND 1.480136
BOB 7.961042
BRL 6.353668
BSD 1.152117
BTN 99.741473
BWP 15.528182
BYN 3.770473
BYR 22588.345428
BZD 2.314331
CAD 1.581934
CDF 3315.646835
CHF 0.942631
CLF 0.028263
CLP 1084.563727
CNY 8.284511
CNH 8.272986
COP 4705.142985
CRC 581.656968
CUC 1.152467
CUP 30.540365
CVE 110.237892
CZK 24.820447
DJF 205.169548
DKK 7.460613
DOP 68.323199
DZD 150.345929
EGP 58.324658
ERN 17.286999
ETB 158.433541
FJD 2.603941
FKP 0.85594
GBP 0.85647
GEL 3.135159
GGP 0.85594
GHS 11.867082
GIP 0.85594
GMD 82.4058
GNF 9982.545249
GTQ 8.854823
GYD 241.040727
HKD 9.046752
HNL 30.090601
HRK 7.536214
HTG 151.212816
HUF 402.706852
IDR 18944.591768
ILS 4.021003
IMP 0.85594
INR 99.807354
IQD 1509.328849
IRR 48547.656077
ISK 143.033075
JEP 0.85594
JMD 183.664836
JOD 0.817144
JPY 168.33969
KES 148.913382
KGS 100.783647
KHR 4617.864447
KMF 492.683845
KPW 1037.226262
KRW 1582.533008
KWD 0.35307
KYD 0.960164
KZT 602.06195
LAK 24856.887583
LBP 103230.815094
LKR 346.214864
LRD 230.423338
LSL 20.801885
LTL 3.402935
LVL 0.697116
LYD 6.280456
MAD 10.515714
MDL 19.811128
MGA 5148.733904
MKD 61.519872
MMK 2419.50369
MNT 4130.366588
MOP 9.315509
MRU 45.542801
MUR 52.575963
MVR 17.753793
MWK 1997.80873
MXN 22.09786
MYR 4.900869
MZN 73.712199
NAD 20.801885
NGN 1786.450441
NIO 42.399574
NOK 11.64654
NPR 159.586757
NZD 1.930754
OMR 0.443128
PAB 1.152117
PEN 4.137283
PGK 4.816816
PHP 65.888865
PKR 326.91661
PLN 4.268679
PYG 9195.738728
QAR 4.202067
RON 5.030175
RSD 117.20118
RUB 90.368278
RWF 1663.690891
SAR 4.323762
SBD 9.612065
SCR 16.999311
SDG 692.060432
SEK 11.137887
SGD 1.482116
SHP 0.905658
SLE 25.873303
SLL 24166.652664
SOS 658.438087
SRD 44.773754
STD 23853.731871
SVC 10.081521
SYP 14984.415101
SZL 20.797886
THB 37.818235
TJS 11.377302
TMT 4.033633
TND 3.410561
TOP 2.699196
TRY 45.655315
TTD 7.830075
TWD 34.101261
TZS 3058.947791
UAH 48.287326
UGX 4152.978764
USD 1.152467
UYU 47.108416
UZS 14469.441901
VES 118.193176
VND 30112.223648
VUV 138.533142
WST 3.179258
XAF 655.795737
XAG 0.032012
XAU 0.000342
XCD 3.114599
XDR 0.815599
XOF 655.795737
XPF 119.331742
YER 279.707783
ZAR 21.404421
ZMK 10373.586524
ZMW 26.643448
ZWL 371.093776
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Leaders warn race for minerals could turn seabed into 'wild west'
Leaders warn race for minerals could turn seabed into 'wild west' / Photo: Valery HACHE - AFP

Leaders warn race for minerals could turn seabed into 'wild west'

World leaders on Monday called for global rules to govern the seabed and warned against racing to exploit the ocean floor in a thinly-veiled rebuke of US President Donald Trump.

Text size:

Growing anxiety over Trump's unilateral push to fast-track deep-sea mining in international waters shot to the surface at the opening of the UN Ocean Conference in France.

"I think it's madness to launch predatory economic action that will disrupt the deep seabed, disrupt biodiversity, destroy it and release irrecoverable carbon sinks -- when we know nothing about it," said French President Emmanuel Macron.

Imposing a moratorium on seabed mining was "an international necessity", said Macron.

The number of countries opposed to seabed mining rose to 36 on Monday, according to a tally kept by the Deep Sea Conservation Coalition, an umbrella group of non-governmental organisations.

Trump was not among the roughly 60 heads of state and government in Nice but his spectre loomed large as leaders defended the global multilateralism he has spurned.

Of particular concern, his move to sidestep the International Seabed Authority (ISA) and issue permits directly to companies wanting to extract nickel and other metals from waters beyond US jurisdiction.

Brazilian President Luiz Inacio Lula da Silva called for "clear action" from the seabed authority to end a "predatory race" to exploit the ocean floor.

"We now see the threat of unilateralism looming over the ocean. We cannot allow what happened to international trade to happen to the sea," he said.

The deep sea, Greenland and Antarctica were "not for sale", Macron said in further remarks directed clearly at Trump's expansionist claims.

The ISA, which has jurisdiction over the ocean floor outside national waters, is meeting in July to discuss a global mining code to regulate mining in the ocean depths.

UN Secretary-General Antonio Guterres said he supported these negotiations and urged caution as countries navigate these "new waters on seabed mining".

"The deep sea cannot become the wild west," he said, to applause from the plenary floor.

- 'Wave of hope' -

Island nations also spoke out against seabed mining, which scientists warn could result in untold damage to ecosystems largely unexplored by humanity.

"Here in Nice, we can feel that the looming threat of deep sea mining, and the recent reckless behaviour of the industry is seen by many states as unacceptable," said Megan Randles from Greenpeace.

Macron said a global pact to protect marine life in international waters beyond national jurisdictions had received enough support to become law and was "a done deal".

The high seas treaty struck in 2023 requires ratifications from 60 signatory countries to enter into force, something France hoped to achieve before Nice.

Macron said the treaty "would be implemented" after roughly 50 nations ratified and 15 others formally committed to joining them. His office said this would happen by the end of the year, but did not name the countries.

"Today's surge of ratifications for the High Seas Treaty is a tidal wave of hope and a huge cause for celebration," Rebecca Hubbard, director of the High Seas Alliance, told AFP.

- 'Prove you're serious' -

On Monday, the United Kingdom announced plans to extend a partial ban on bottom trawling in some of its protected marine areas.

Macron said on Saturday that France would also restrict the destructive fishing method in some of its marine protected areas but was criticised for not going far enough.

Greece and French Polynesia announced Monday the creation of new protected marine parks, following similar action from Samoa this week.

Just eight percent of global oceans are designated for marine conservation, despite a globally agreed target to achieve 30 percent coverage by 2030.

But even fewer are considered truly protected, as some countries impose next to no rules on what is forbidden in marine zones or lack the finance to enforce any regulations.

The summit will not produce a legally binding agreement at its close, but wealthy nations faced calls to cough up the missing finance to make ocean protection a reality.

Small island states turned out in numbers to demand money and political support to combat rising seas, marine trash and the plunder of fish stocks that hurt their economies.

"We say to you, if you are serious about protecting the ocean, prove it," said President Surangel Whipps Jr of Palau, a low-lying Pacific nation.

np-aag-fcc-fff/phz

Y.Al-Shehhi--DT