‘High demand for metals has fueled interest in deep ocean mining, as land-based resources get stretched and need increases in nations such as China and India, which have growing economies but relatively few natural resources. The projects cost hundreds of millions of dollars just to get started, and widespread ocean mining is years away. But new technology has investors seeing possibilities.’

However mining plans near seabed vents raises environmental concerns:

‘The unique species that thrive near the vents are a chief concern of scientists, including marine geologist Peter Rona of Rutgers University, who discovered the Atlantic’s first hydrothermal vents in the 1980s. He describes the area near the vents as “like another planet.” Creatures there include footlong clams, man-length tubeworms and a shrimp species that has no eyes, but may have sensors that detect the vents’ infrared radiation.

The species there may tell us more about the origins of life of earth, and even what life elsewhere might look like, Rona said. Already, he said, the species there have been a benefit. For instance, an enzyme from microbes found there are being used to enhance the flow of oil extracted from deep reservoirs.’

via Deep Ocean Mining Becoming Possible: Promise, Perils Weighed.