Concerns have grown that China could further restrict exports of the strategic minerals after it limited exports of germanium and gallium late last month.
Federal fisheries minister said the decision to back the moratorium was due to a lack of a strong regulatory regime and a poor understanding of the comprehensive impacts.
Lawyers for Prateek Gupta said that Trafigura employees had proposed an arrangement to agree contracts for the sale of nickel but in fact to trade other material.
Coal is the largest source of electricity generation and the primary fuel for iron, steel, and cement production, making it central to climate and energy discussions.
As the International Seabed Authority meets in Kingston this week, it will be writing rules for deep sea mining that threatens the very ecosystems in need of preservation.