31 January 2023 | Other

Norway found rich deposits of metals on the seabed of its continental shelf

According to Norwegian authorities, researchers have discovered rich deposits of minerals and metals, including zinc, copper and rare earths on the continental shelf.

These resources are vital to the green economy program.

Norway is planning to mine on its offshore areas after the parliament's approval as the process has sparked environmental concerns.

About 45 million tons of zinc and 38 million tons of copper are estimated to be in the Norwegian Sea and Greenland Sea. It’s almost twice the amount of metal mined globally each year.

In addition to copper and zinc, there are magnesium, cobalt, cerium and other rare earths such as neodymium, yttrium and dysprosium found on the continental shelf.

Further exploration and extraction of minerals and metals will be carried out only after the additional research determining the impact on the environment is conducted.

Company MarketCheese
Period: 16.05.2025 Expectation: 600 pips
AUDUSD will resume growth to 0.64900
Today at 10:59 AM 41
Period: 24.05.2025 Expectation: 4240 pips
USDJPY could extend its rally toward target level of 150.30
Today at 08:56 AM 39
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 23.05.2025 Expectation: 45000 pips
ETHUSD pulls back ahead of new growth wave
Today at 08:54 AM 37
Period: 25.05.2025 Expectation: 156 pips
Selling natural gas with target of 3,300 amid lower demand due to mild weather
Today at 06:43 AM 28
Period: 15.05.2025 Expectation: 1150 pips
EURUSD is expected to decline to 1.10800
Yesterday at 11:04 AM 72
Period: 22.05.2025 Expectation: 2720 pips
USDCAD pair aims for recovery after local decline
Yesterday at 08:06 AM 44
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Go to forecasts