By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Commodities > Norway should call off deep sea mining plans, key ally says
Commodities

Norway should call off deep sea mining plans, key ally says

News Room
Last updated: 2023/09/14 at 2:40 AM
By News Room
Share
3 Min Read
SHARE

By Nerijus Adomaitis and Victoria Klesty

OSLO (Reuters) – Norway’s minority government should withdraw its proposal to open a vast Arctic offshore area to deep sea mining and call at least a ten-year moratorium on the activity, its key backer in parliament, said.

Norway could become the first nation to make deep sea mining happen on a commercial scale if the country’s parliament approves a plan to open ocean an area larger than the United Kingdom to the new industry. The mining could provide a source for such metals as and rare earth elements for the transition away from fossil fuels.

The Labour-led government, which also includes the Centre Party, relies on a smaller leftwing party, the Socialist Left (SV), for support to pass its budget and other key policies in parliament.

“We will not vote for the proposal that the government has put forward. We think that it should be sent back to the government,” Lars Haltbrekken, SV’s spokesman on energy and environment, told Reuters.

“We would like to have a moratorium for at least ten years so that we can find out more (about the environmental consequences) before we start digging for minerals on the seabed,” he added.

Haltbrekken said SV was still discussing a list of its demands for the upcoming fiscal budget, to be presented on Oct. 6.

He did not say whether SV would make support for the government’s budget conditional on the issue.

The government could still win the approval with support from the main opposition Conservative party, which initiated the opening process in 2020, as well as the right-wing Progress Party.

Still, Haltbrekken said deep sea mining was “high on our agenda” and “an important issue for us”.

In 2021, SV blocked the government’s plans to conduct oil and gas exploration licensing round in frontier areas.

Parliament is set to discuss the government’s bill this autumn, although a specific date for debates has yet to be set.

Read the full article here

News Room September 14, 2023 September 14, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Global supply chains threatened by lack of Chinese rare earths

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Nvidia seeks to build its business beyond Big Tech

Nvidia is seeking to reduce its reliance on Big Tech companies by…

Hong Kong stocks outperform mainland China by most since 2008

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Microsoft and Meta shares up post-earnings results, AI trade winners

Watch full video on YouTube

Why Americans Are Flocking To Nashville

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

Commodities

Russia mulls extra tax for some commodities exports, including metals – sources

By News Room
Commodities

Gold prices tumble as Fed talks higher rates

By News Room
Commodities

Crude oil prices endure downturn amid U.S. interest rate hike anticipation

By News Room
Commodities

China approves export licences for chip materials gallium, germanium

By News Room
Commodities

European energy crisis: ECB, IEA and EIB to strategize on systematic transition amid soaring prices

By News Room
Commodities

Federal Reserve interest rate signals prompt oil price dip

By News Room
Commodities

Oil prices inch closer to $100 per barrel amid inflation concerns

By News Room
Commodities

Brent Crude Prices May Hit $120 per Barrel, Warns JPMorgan

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?