Graphic shows how Trans Tasman Resources planned to dredge for iron ore on the sea floor off the coast of New Zealand.
INDUSTRY
Race to mine ocean floor
By Ninian Carter
June 19, 2014 -
A project to mine undersea iron ore off New Zealand has been rejected by the nations Environmental Protection Authority (EPA).
Trans Tasman Resources has spent about US$400 million on the project. The New Zealand decision is being closely watched by mining companies around the world looking to mine copper, cobalt, manganese and other metals deeper on the ocean floor.