Marine mining is the process of retrieving mineral deposits from the deep sea – the area of the ocean below 200 m. The process of recovering mineral wealth from seawater and form deposits on and under the seafloor. While mineral resources to the value of trillions of dollars do exist in and under the oceans. The deep-sea contains many different resources available for extraction, including silver, gold, copper, manganese, cobalt, and zinc. Many environmental problems must be overcome and many technical advances must be made before the majority of these deposits can be mined in competition with existing land resources. The mineral resources of the marine environment are of different types: the dissolved minerals of the ocean waters; the unconsolidated mineral deposits of marine beaches, continental shelf, and deep-sea floor; and the consolidated deposits contained within the bedrock underlying the seas.
According to the study of,’ Marine Mining Market Trends, Statistics, Growth, and Forecasts’ Some market players operating in the industry specialized in underwater exploration and equipment manufacturing include Soil Machine Dynamics, De Beers, Neptune Minerals, Korea Institute of Ocean Science and Technology and Diamond Fields. As a first-mover seabed mining companies and frontier investors, Nautilus and Deep Green have made significant profits based on speculation about the potential and possibility of DSM, a partner of The Ocean Clean up in the Pacific Ocean, without undertaking any actual mining. Nautilus is a Canadian registered company, which was listed on the Toronto Stock Exchange (TSX) until April 2019. DeepGreen is a private company incorporated in British Columbia, Canada. Deep-sea mining exploration mining are currently underway in the Pacific, Atlantic and Indian Oceans with most interest and activity from Clarion Clippertion Zone in the Equatorial North Pacific region, which is between Hawaii and Mexico. Papua New Guinea has permitted a company to conduct mining operations 19 miles from its shore in Bismarck Sea.
On the authority of geographical distribution Russia, United Kingdom, Germany, Papua New Guinea, China are some of the major countries for marine mining activities. Escalating metal demand in the Asia Pacific, especially in Australia, India, and Vietnam is anticipated to fuel the marine mining industry over the estimation period 2020-2025. Advanced technologies are being adopted highly in these countries. This is expected to augment the demand for marine mining equipment in the near future. Several international developers are planning to set up their businesses in developing economies through FDI incentive schemes. This is expected to indirectly drive the economies of countries and industrialization. Growth in industrialization is further estimated to boost the marine mining market, primarily due to the rise in demand for metal products.
The global marine mining equipment market has observed a large number of developments in deep-sea mineral exploration projects and is estimated to witness a surge in demand due to depleting onshore energy resources. A growing population coupled with depleting terrestrial deposits is likely to boost the exploitation of rich oceanographic mineral reserves. Construction and shipbuilding industries have been expanding at a rapid pace owing to the significant surge in the number of projects. This is expected to drive the demand for metals and minerals, which in turn creates the need for mining equipment in the upcoming years.
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Global Marine Mining Market Research Report
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