French study indicates profit potential for industrial manganese nodule venture

Manganese nodule projects were quite fashionable during the 1970s. At the beginning of the 1980s, low metal prices led to an almost complete reduction of such activities; however, the Law of the Sea incited the countries that signed it to build a strategy for this ocean resource. Gemonod was created in France in 1984 with a four-year mission. This paper presents the results of its program devoted to the technical and economic studies of nodule exploitation. A commercial mining system is presented. The nodules would be collected by a self-propelled miner and lifted hydraulically through a rigid pipestring. A complete optimized scenario has been built taking into account offshore mining, ore transfer at sea, transportation and processing to analyze the profitability of the project. Considering an average conservative basis for metal prices, after a deep analysis of the market, the return rate of investment of the project appears fairly interesting. These results are new and are explained in comparison with previous foreign studies. These results must not hide the innovative nature of the project nor the associated risks. This is why a mining pilot is required and has been specified by Gemonod.