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Seabed Riches: US Refinery for Pacific Minerals Planned
30 Mar
Summary
- Glomar Minerals and Cobalt Blue plan a US refinery for deep-sea minerals.
- The refinery is expected to cost under $500 million and be operational by 2029.
- Cobalt Blue's technology will process polymetallic nodules from the Pacific.
Deep-sea mining firm Glomar Minerals, alongside Australia's Cobalt Blue Holdings, announced plans on March 30 to construct a U.S. refinery. This facility will process critical minerals extracted from the Pacific Ocean floor, aiming for operation within three years. The project targets nickel, manganese, and copper, essential for electronics and defense.
Expected to cost under $500 million, the refinery is projected to begin commercial production by 2029. Cobalt Blue's proprietary technology will be crucial for separating multiple minerals from polymetallic nodules, a process not yet scaled commercially. Glomar controls exploration leases in the Pacific's Clarion-Clipperton Zone.
This venture emerges amidst growing geopolitical interest in diversifying critical mineral supplies, particularly to counter Chinese dominance. The U.S. and other nations are actively seeking alternative sources. The refinery plans also occur within a context of international tension surrounding deep-sea mining regulations.
