Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Large mining companies are selling off some of their prized assets after the prolonged global commodities markets rout left some with high levels of debt.
Anglo American, Glencore and Freeport have been at the forefront of those companies cutting debt, but BHP Billiton and Rio Tinto have also been looking to rationalize their assets while signaling an interest in acquisitions.
Shares in mining firms have recovered this year with investors reckoning that commodity prices have finally bottomed out after the prolonged slump.
