The International Seabed Authority (ISA) has elected Leticia Carvalho of Brazil as its new secretary-general. Her appointment could mean a shift in momentum regarding deep sea mining as nations scramble to secure vital minerals for the green energy transition.
Carvalho, an experienced oceanographer and former environmental regulator, will start a four-year term in January 2025. She will replace Michael Lodge, who served two terms and had a notable pro-mining stance. Carvalho brings a wealth of experience to this role, having previously served as an official at the UN Environment Program in Nairobi and worked with Brazil's oil regulator.
Her background suggests an environmentally friendly ISA's approach to regulating sea-floor mining.
"Transparency and accountability is my top priority," Carvalho stated in an interview for Bloomberg, emphasizing her commitment to science-based governance.
The transition is critical for the ISA, which has been rushed to develop regulations for extracting polymetallic nodules and other mineral deposits. Companies like The Metals Company (NASDAQ:TMC) have been pushing for licenses to start mining operations; however, sea mining is proving to be a more complex topic than scientists have anticipated.
Recently, scientists discovered that polymetallic nodules in the Pacific Ocean produce oxygen, which has significant implications for marine ecosystems.
The team of researchers led by Professor Andrew Sweetman discovered that potato-shaped nodules rich in manganese, cobalt, and nickel produce oxygen in complete darkness around 4,000 meters below the surface.
"When we first got this data, we thought the sensors were faulty because every study ever done in the deep sea has only seen oxygen being consumed rather than produced," he said for CNBC, noting the magnitude of this discovery.
This new data left environmentalists with more questions than answers, and Carvalho believes it will prolong the regulatory work, expected to be completed by mid-2025.
"There is a big amount of work to be done. Logically, I can tell you that it's unlikely that this is going to be accomplished by the current deadline," she said.
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