Norway's attempt to open up a U.K.-sized section of Arctic seabed to mineral exploration and potential mining has been halted – for now.

Several official studies and commercial forays into deep-sea mining have discovered a wealth of vital energy transition minerals secreted at the bottom of the world's oceans, globally available and hotly contested.

Countries large and small are now peering eagerly into the depths of territorial and international waters to find incalculable and industry-redefining treasures – and are met with a tsunami of resistance.

Although oceans cover 70% of Earth's surface, technological challenges have severely limited the progress of deep-sea mining. Despite the growing demand for minerals driven by the energy transition, which has intensified decades of exploration and research, progress has been limited. However, early efforts have uncovered cobalt-rich seamounts, hydrothermal vents containing deposits of gold, nickel, and copper, as well as polymetallic nodules rich in battery metals scattered across the seafloor.

The technology required to safely harvest and scale the undersea bounty comes up against the question: what will it actually cost?

Self-regulation in industry has often resulted in inadequate oversight, leaving future generations of stakeholders to bear the financial and environmental costs. While some governments, like Norway's, claim a commitment to balancing economic growth with environmental stewardship, regulations governing international waters remain largely undeveloped.

Norway's own substantial seabed resource was opened to the world by a majority vote in January, granting access to roughly 280,000 square kilometers (108,000 square miles) of Arctic seabed for mineral exploration. According to analyses by the Norwegian Offshore Directorate in 2023, these areas contain copper, zinc, cobalt, and rare earth elements located on the continental shelf.

"The world needs minerals for the green transition, and the government wants to explore if it is possible to extract seabed minerals in a sustainable manner from the Norwegian continental shelf. A large majority of the Norwegian Parliament supports the government's step-by-step approach to the management of seabed minerals," Norwegian Energy Minister Terje Aasland said of the decision.

This is in spite of a well-publicized coalition of 32 countries, including the United Kingdom, Germany, France, Canada and Brazil, calling for a moratorium on deep-sea mining in international waters pending improved regulation, better scientific risk assessment, and the like.

This isn't to say there has been only staunch opposition – the U.K. holds two exploration licenses for deep-sea mining in the Clarion-Clipperton Zone (CCZ), Germany holds one in the Indian Ocean, while France and Brazil are involved in the Atlantic Ocean. In the West, Canada, through The Metals Company (TMC), holds exploration and commercial rights to three areas in the CCZ.

Last year's parliament approval named Norway as the first country in the world to greenlight commercial deep-sea mining. With cross-party support, the vote was 80 to 20 in favor of opening roughly 108,000 sq miles of Arctic seabed to mineral exploration and potential mining between Norway and Greenland near the Svalbard archipelago – an area roughly the size of the U.K.

However, the licensing round planned for 2025 was scrapped before the year was out in a deal with the Socialist Left (SV party) and environmentalist party amidst legal action by the World Wildlife Fund, opposition from the European Parliament pressing for a moratorium, and its own Norwegian Environment Agency, which advised against moving forward with what was considered insufficient scientific and legal basis for deep-sea mining.

While the SV party is small and not part of the ruling minority coalition, the Labor government in Norway relies on it to pass legislation, including budget bills, in Parliament. The deal means that the issue is on hold until 2026. Despite this, regulation development and mapping of environmental impact will continue.

Norway will hold a general election in early September 2025, which current polls predict will be won by the opposition Conservative and Progress Parties. These favor deep sea mining, verifying that this decision could prove temporary.

Commenting on developments, Norwegian Prime Minister Jonas Gahr Stoere clarified, "This will be a postponement."

At least three Norwegian start-ups – Stavanger-based Loke, Oslo-based Green Minerals, and Bergen-based Adepth, originally planned to bid in the first licensing round this year.