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Doomed Deep Sea Miner The Metals Company Under Huge Pressure
In what Greenpeace Aotearoa is calling another heavy blow to deep sea mining - the Canadian miner The Metals Company has received a delisting notice from the Nasdaq stock exchange - after trading below USD$1 at closing bid price for 30 days in a row.
The delisting notice comes just weeks after Greenpeace activists confronted The Hidden Gem, a deep sea mining ship commissioned by The Metals Company, with banners reading "stop deep sea mining" as it returned from test mining in the Pacific Ocean to the port of Manzanillo, México.
Greenpeace Aotearoa campaigner James Hita, who was in México to confront The Hidden Gem, says the falling stock price and delisting notice is another clear signal to investors in The Metals Company that the tide of public opinion is turning against deep sea mining.
This comes along with increasing calls by Civil society and governments around the world, including New Zealand Minister of Foreign Affairs - Nanaia Mahuta calling for the industry to halt in order to protect the ocean which Greenpeace says together should spell the end of the risky new industry.
"In México I delivered a message to The Metals Company via the captain of The Hidden Gem saying we will not stand by while mining companies plunder the seafloor for profit and the message remains the same. Waiho papa moana - leave the seabed alone.
"Led by Pacific civil society, the tide of public opinion is turning against deep sea mining as people around the world take a stand and call out this destructive extractive industry that threatens the health of Te Moana-nui-a-Kiwa.
"To date, the governments of Palau, Samoa, Fiji, Micronesia, Chile, and New Zealand have all declared backing for a moratorium. While Germany backs a ‘precautionary pause’ and French President Macron has called for an outright ban.
"Together our voices are strong and The Metals Company is feeling the pressure and investors are wising up - as seen by The Metals Company’s falling share price and the delisting notice.
"We see a future where the ocean that connects and nourishes us all, is thriving. A future where people’s way of life is protected and their spiritual connection to the ocean is respected. Deep sea mining has no place in this future."
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