Plans to extract minerals from the ocean floor are being put on hold after a meeting of the U.N. body regulating the sector, with environmental and economic risks threatening to scupper the industry before it begins.
The International Seabed Authority (ISA) ruled out any immediate permission for mining to begin.
A moratorium is also expected later in the month to ensure projects do not go ahead without safeguards.
Mining companies say the ocean floor is potentially rich in metals like nickel and cobalt used in batteries for electric vehicles, so their extraction will support the global energy transition.
