Nodules and crust economics: relationship between cobalt and nickel price


Martino, Simone and Parson, Lindsay M. (2011) Nodules and crust economics: relationship between cobalt and nickel price. In, Proceedings of the 9th ISOPE Ocean Mining Symposium MAUI, Hawaii, USA, June 19-24, 2011. Ninth ISOPE Ocean Mining Symposium Cupertino, US, International Society of Offshore and Polar Engineers, 213-220.

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Description/Abstract

This paper compares the economic feasibility of two deep seabed mining deposits, manganese nodules and cobalt crust using a new quantitative indicator, the cobalt/nickel price ratio, that verifies the equality between the net present value (NPV) of the two resources. NPV is based on two different models, a multi-period and a singleperiod time cash-flow. In both cases results are similar and show that
the current price of nickel could produce equality between NPV of manganese nodules and cobalt crust only if the cobalt price were several hundreds dollars per kg. Results are based on cost of mining estimated by Yamazaki for Japanese licensed deposits, and can be used as a guide in the absence of more recent commercially-derived cost models.

Item Type: Book Section
ISBNs: 9781880653951
Keywords: seabed mining; manganese nodules; cobalt crust; mining economics; sensitivity analysis; cobalt/nickel price ratio; discounted cash-flow
Subjects: Q Science > QE Geology
Divisions: National Oceanography Centre (NERC) > Marine Geoscience
ePrint ID: 300546
Date Deposited: 22 Feb 2012 14:53
Last Modified: 27 Mar 2014 20:19
Publisher: International Society of Offshore and Polar Engineers
URI: http://eprints.soton.ac.uk/id/eprint/300546

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