To date all the undersea mining projects I have seen (which is not more than around 6-10) have been actual mining eg digging in the bed, collecting rock etc requiring advanced and complex technology. The Namibia resource is only a dredging operation which has been a proven technology for many decades (eg look to the Dutch and their reclaimed lands) but not to the depths proposed until recent years as Nobull says.
It raises an interesting point about the impact of developing technology. I would speculate, reasonably I think, there is more room for improvement in costs from technology advancements undersea than on land - indeed the work Jan de Nul is proposing for Sandpiper/Meob is already suggesting new solutions that will help advance the field. I would also suggest that undersea mining will grow rapidly - there are more potential large deposits of all metals to discover under sea than on land, especially around underwater volcanoes.
At this stage makattack's comments re perceived risk associated with pioneering new methods are very fair. The market does take time to assess new ways.
AEV Price at posting:
47.7¢ Sentiment: None Disclosure: Not Held
