Fincantieri, Saipem form seabed mining partnership

Fincantieri and Saipem have entered into a memorandum of understanding (MOU) to promote the development of deep-seabed mining (DSM), i.e. the sustainable exploitation of deep-sea floors over 3,000 metres in depth.

The agreement sets the ground for a strategic partnership aimed at developing and pursuing business opportunities in the field of designing, engineering, building, and managing DSM systems.

Deep-sea floors are rich in minerals, mostly sulphides (sulphur), cobalt crusts, and polymetallic nodules, all of which are essential to modern digital economy. There are no appropriate industrial extraction applications, however, that can enable mining companies to extend their activities in open water.

The first goal of the partnership will be to draw up an industrial plan containing evidence of the technical and economic feasibility and sustainability of new DSM projects.