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

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Title: Perspectives on exploration and extraction of seafloor massive sulfide deposits in Norwegian waters.
Authors: Bang, Rasmus Noss1 (AUTHOR) Rasmus.Bang@nhh.no, Trellevik, Lars-Kristian Lunde2 (AUTHOR) Lars-Kristian.Trellevik@uib.no
Source: Mineral Economics: Raw Materials Report. Jun2026, Vol. 39 Issue 2, p319-367. 49p.
Subject Terms: *Net present value, *Cost, *Ore deposits, *Value (Economics), *Continental shelf, *Transition metals, *Dynamic simulation, *Resource allocation
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 model is developed based on selected industry knowledge, expectations, and perceptions elicited through a participatory systems mapping session with 82 participants and 20 in-depth interviews with experts from industry, academia, and the public policy sector. Using the model, we simulate the expected ranges of resource- and economic potential. The simulation results indicate an expected commercial resource base of 1.8 to 3 million tons of copper, zinc, and cobalt, in which copper makes out the most significant part. Relating to the expected commercial resource base, we highlight a discrepancy between academic and industrial expectations, in which the academic expectations are more conservative than the industrial expectations. The corresponding net present values lie in the range of a net present loss of 970 million USD up to a net present gain of 2.53 billion USD, in which the academic expectations are projected to yield a negative net present value, while the industrial expectations are projected to yield a positive net present value. Closer investigation of the results reveals that one of the main challenges regarding SMS exploration and extraction is the initial exploration costs associated with coring operations. These costs are expected to be high with today's exploration technology. Moreover, they occur relatively early in time compared to revenue-generating activity, which has a significant negative impact on the net present value of the industry due to discounting. Thus, a key focus of the industry should be to find ways to reduce the costs associated with coring operations and/or the time it takes from initial exploration to extraction and generation of revenue. [ABSTRACT FROM AUTHOR]
Database: Energy & Power Source
FullText Text:
  Availability: 0
Header DbId: enr
DbLabel: Energy & Power Source
An: 194611637
AccessLevel: 6
PubType: Academic Journal
PubTypeId: academicJournal
PreciseRelevancyScore: 0
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Items – Name: Title
  Label: Title
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  Data: Perspectives on exploration and extraction of seafloor massive sulfide deposits in Norwegian waters.
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  Data: <searchLink fieldCode="AR" term="%22Bang%2C+Rasmus+Noss%22">Bang, Rasmus Noss</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> Rasmus.Bang@nhh.no</i><br /><searchLink fieldCode="AR" term="%22Trellevik%2C+Lars-Kristian+Lunde%22">Trellevik, Lars-Kristian Lunde</searchLink><relatesTo>2</relatesTo> (AUTHOR)<i> Lars-Kristian.Trellevik@uib.no</i>
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  Data: <searchLink fieldCode="JN" term="%22Mineral+Economics%3A+Raw+Materials+Report%22">Mineral Economics: Raw Materials Report</searchLink>. Jun2026, Vol. 39 Issue 2, p319-367. 49p.
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  Data: *<searchLink fieldCode="DE" term="%22Net+present+value%22">Net present value</searchLink><br />*<searchLink fieldCode="DE" term="%22Cost%22">Cost</searchLink><br />*<searchLink fieldCode="DE" term="%22Ore+deposits%22">Ore deposits</searchLink><br />*<searchLink fieldCode="DE" term="%22Value+%28Economics%29%22">Value (Economics)</searchLink><br />*<searchLink fieldCode="DE" term="%22Continental+shelf%22">Continental shelf</searchLink><br />*<searchLink fieldCode="DE" term="%22Transition+metals%22">Transition metals</searchLink><br />*<searchLink fieldCode="DE" term="%22Dynamic+simulation%22">Dynamic simulation</searchLink><br />*<searchLink fieldCode="DE" term="%22Resource+allocation%22">Resource allocation</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: 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 model is developed based on selected industry knowledge, expectations, and perceptions elicited through a participatory systems mapping session with 82 participants and 20 in-depth interviews with experts from industry, academia, and the public policy sector. Using the model, we simulate the expected ranges of resource- and economic potential. The simulation results indicate an expected commercial resource base of 1.8 to 3 million tons of copper, zinc, and cobalt, in which copper makes out the most significant part. Relating to the expected commercial resource base, we highlight a discrepancy between academic and industrial expectations, in which the academic expectations are more conservative than the industrial expectations. The corresponding net present values lie in the range of a net present loss of 970 million USD up to a net present gain of 2.53 billion USD, in which the academic expectations are projected to yield a negative net present value, while the industrial expectations are projected to yield a positive net present value. Closer investigation of the results reveals that one of the main challenges regarding SMS exploration and extraction is the initial exploration costs associated with coring operations. These costs are expected to be high with today's exploration technology. Moreover, they occur relatively early in time compared to revenue-generating activity, which has a significant negative impact on the net present value of the industry due to discounting. Thus, a key focus of the industry should be to find ways to reduce the costs associated with coring operations and/or the time it takes from initial exploration to extraction and generation of revenue. [ABSTRACT FROM AUTHOR]
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=enr&AN=194611637
RecordInfo BibRecord:
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    Identifiers:
      – Type: doi
        Value: 10.1007/s13563-022-00346-y
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      – Code: eng
        Text: English
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        PageCount: 49
        StartPage: 319
    Subjects:
      – SubjectFull: Net present value
        Type: general
      – SubjectFull: Cost
        Type: general
      – SubjectFull: Ore deposits
        Type: general
      – SubjectFull: Value (Economics)
        Type: general
      – SubjectFull: Continental shelf
        Type: general
      – SubjectFull: Transition metals
        Type: general
      – SubjectFull: Dynamic simulation
        Type: general
      – SubjectFull: Resource allocation
        Type: general
    Titles:
      – TitleFull: Perspectives on exploration and extraction of seafloor massive sulfide deposits in Norwegian waters.
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            NameFull: Bang, Rasmus Noss
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            NameFull: Trellevik, Lars-Kristian Lunde
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            – D: 01
              M: 06
              Text: Jun2026
              Type: published
              Y: 2026
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              Value: 39
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            – TitleFull: Mineral Economics: Raw Materials Report
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