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New Zealand to review risk and benefits of seabed mining | Business

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New Zealand will undertake a review of the risks and benefits of seabed mining and whether domestic regulation is needed, the government announced on Friday. | News24_Business

Seabed mining is allowed in New Zealand but it has to be approved by the Environmental Protection Agency.New Zealand will undertake a review of the risks and benefits of seabed mining and whether domestic regulation is needed, the government announced on Friday.

"Concerns about the environmental impacts of seabed mining need to be considered, along with the potential role that minerals recovered by seabed mining could play in New Zealand’s transition to a decarbonised economy," Parker said in a statement.Seabed mining is allowed in New Zealand but it has to be approved by the Environmental Protection Agency. Although three projects have been proposed to the agency none has been given final clearance.

Last October, New Zealand backed a conditional moratorium on seabed mining in areas beyond national jurisdiction.

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