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(Bloomberg) — Controversial plans to mine the ocean floor face a key test this year when a United Nations body unveils rules that could spur the exploitation of hundreds of billions of dollars of battery metals.
The International Seabed Authority is preparing to pass regulations in July that could trigger a rush to extract metals needed to power the electric-vehicle revolution. Environmentalists say that would endanger fragile marine ecosystems and fear the ISA is too closely aligned with the emergent mining industry. The conflict exposes the complex trade-offs nations face to survive on a warming planet.
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