PNG Reaffirms Ban As Opposition To Deep Sea Mining Gains Traction
Feature - Global efforts to halt deep sea mining are gaining momentum, with major French financial institutions recently joining the call for a moratorium and Papua New Guinea reaffirming its stance against such operations in its national waters.
In a significant development, three major French financial institutions, including two of the country's largest banks and the state's public investment arm, announced their rejection of deep sea mining during the United Nations Ocean Conference (UNOC) held last week in Nice, France.
BNP Paribas, France's largest and Europe's second-largest bank, confirmed it would not invest in deep-sea mining projects due to the inherent environmental and social risks.
On the 6 June, Crédit Agricole, the second-largest bank in France, said it would not finance deep sea mining projects until it is proven that such operations pose no significant harm to marine ecosystems.
Groupe Caisse des Dépôts, the public investment arm of the French Government, pledged to exclude all financing and investment in companies whose main activity is deep-sea mining, as well as in deep sea mining projects.
Amundi Asset Management also stated its aim to avoid investment in companies "involved in deep sea mining and/or exploration".
These announcements bring the total number of financial institutions excluding deep sea mining in some form to 24.
Crédit Agricole's chief sustainability and impact officer Eric Campos articulated the bank's position in a statement.
"There can be no sustainable blue growth if it is to the detriment of the integrity of seafloor that is currently unexplored. Against a backdrop of climate and ecological emergency, Crédit Agricole undertakes not to finance deep sea mining projects."
Deep Sea Mining Campaign's finance advocacy officer Andy Whitmore said the recent announcements were crucial.
"This is a truly significant outcome from UNOC," Whitemore said.
"Until recently no French financiers had matched their government's position calling for a ban. This UN Ocean Conference, co-hosted by France, was the perfect opportunity for the most important national players to step up and be counted."
These financial decisions align with growing global concern, with 37 states now calling for a moratorium, precautionary pause, or ban on deep-sea mining.
French President Emmanuel Macron has denounced the industry as "madness," and UN Secretary-General António Guterres has warned that the deep sea "cannot become the Wild West".
Papua New Guinea has reaffirmed its strong opposition to deep sea mining within its national waters.
Prime Minister James Marape recently announced in France that his government would stop deep sea mining operations in the absence of robust scientific evidence and proper environmental safeguards.
This stance comes amid increasing national and international concerns regarding the New Ireland Provincial Government's (NIPG) decision to support the NIU Solwara 1 Deep Sea Mining Project.
Civil society organisations in PNG have urged the NIPG to learn from past mistakes.
In 2019, Nautilus Minerals, the previous holder of the Solwara 1 license, filed for bankruptcy in a Canadian court, leading to substantial financial losses for PNG.
Reports indicated over $120 million of government funds were "sunk into the ocean," while Marape described the agreement with Nautilus as "a deal that should not have happened".
Papua New Guinean coastal communities have long voiced apprehension about government intentions to introduce seabed mining projects.
For generations, these communities have relied heavily on the sea for their sustenance and way of life, and any threat to marine ecosystems directly impacts their economic backbone and cultural practices.
Alliance of Solwara Warriors co-founder Jonathan Mesulam stressed the importance of community consultation for any deep sea mining plans.
"The people of New Ireland must be consulted to ensure that there is free, prior and informed consent before the governor and his administration plans to favour deep sea mining," Mesulam said.
He added that dismissing opposition as "fear mongering and unqualified individuals" hinders respectful discussions based on scientific facts, legal requirements, and the desires of the people for their livelihoods and ocean life.
Civil society organisations are advocating for a transparent Free, Prior, and Informed Consent (FPIC) process, consistent with PNG Supreme Court decisions that require project proponents to obtain landowners' "free and informed consent and approval, and ultimately, their social license to operate".
Civil society organisations are asserting that PNG's government's commitment to moratoriums should be upheld.
In 2019, Marape issued a moratorium on deep sea mining in PNG waters, stating it would remain until further evidence suggested otherwise.
This resolution aligns with the positions of other Pacific nations. In 2023, PNG endorsed the Udaune Declaration of the Melanesian Spearhead Group (MSG), which called for a moratorium on deep-sea mining in Melanesia.
Concerns also extend to procedural and legal issues surrounding the Niu Solwara 1 project, including the need for an Environmental Impact Statement with stakeholder input, and questions about the legality of the license transfer from Nautilus Minerals to Niu Solwara.
Center for Environmental Law and Community Rights PNG executive director Peter Bosip stressed the need for government action.
"The Marape-Rosso government must revisit existing policies, including the Mining Act, which is under review, address outstanding legal issues related to the Niu Solwara 1 project, and ensure that offshore mining activities in PNG waters align with national, regional and international commitments of ocean protection," Bosip said.
Communities across the Pacific are expressing solidarity with those in New Ireland, Duke of York, and neighbouring areas to condemn the NIPG's decision.
Marine ecosystems are not only central to cultural practices but also form the economic foundation of local communities.
Civil society organisations argue there are no social, economic, or environmental justifications for authorising deep sea mining in PNG waters and that the NIU Solwara 1 project must be rejected.
The collective of civil society organisations is calling on the Marape-Rosso government to formally acknowledge the MSG Udaune Declaration, ensure wide consultation during the review of the Mining Act 2025's offshore policy and engage civil society, and cancel all existing exploration and mining licenses, with no further issuing or transfers in the absence of proper legislation and policy.
They also advocate for an independent inquiry into the Nautilus Minerals Solwara 1 project, with all financial and environmental impact reports made public, and for PNG to support a global moratorium on deep sea mining in areas beyond national jurisdiction.
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