Perspectives on exploration and extraction of seafloor massive sulfide deposits in Norwegian waters

Abstract We present a stochastic dynamic simulation model for exploration and extraction of seafloor massive sulfide (SMS) mineral deposits on the Norwegian Continental Shelf (NCS). The is developed based selected industry knowledge, expectations, perceptions elicited through participatory systems mapping session with 82 participants 20 in-depth interviews experts from industry, academia, public policy sector. Using model, we simulate expected ranges resource- economic potential. results indicate an commercial resource base 1.8 to 3 million tons copper, zinc, cobalt, in which copper makes out most significant part. Relating base, highlight discrepancy between academic industrial expectations are more conservative than expectations. corresponding net values lie range loss 970 USD up gain 2.53 billion USD, projected yield negative value, while positive value. Closer investigation reveals that one main challenges regarding SMS initial costs associated coring operations. These be high today’s technology. Moreover, they occur relatively early time compared revenue-generating activity, has impact value due discounting. Thus, key focus should find ways reduce operations and/or it takes generation revenue.