Fincantieri and Saipem partner on deep-seabed mining

Fincantieri and Saipem have signed a memorandum of understanding to promote the development of deep-seabed mining (DSM).

Specifically, this deal sets the ground in the field of designing, engineering, building and managing DSM systems.

Deep-sea floors are rich in minerals, mostly sulphides, cobalt crusts and polymetallic nodules, essential to modern digital economy.

There are no appropriate industrial extraction applications, however, that can enable mining companies to extend their activities in open water.

Fincantieri and Saipem decided to pool together their expertise to provide these professionals with innovative solutions.

The companies will initially draw up an industrial plan on technical and economic feasibility and sustainability of new DSM projects.

“The agreement signed with Fincantieri brings together two Italian leaders involved in promoting deep-seabed mining.

“Saipem boasts innovative technologies, distinctive skills, assets and an outstanding track record in the sector that will be put to use in the joint project with Fincantieri with the aim of finding environmentally compatible solutions so that sea beds can be used sustainably,” commented Stefano Cao, CEO of Saipem.

Fincantieri’s CEO, Giuseppe Bono remarked:

“The minerals in underwater deposits will turn out to be essential, should we manage to move from a fossil-fuel based economy to a green economy.

“Actually, many renewable technologies require huge amounts of metals that are available in high concentrations in deep-sea floors, and those who will be ready to encourage the use of such metals will move in this direction.”

Bono noted that technologically speaking, these are extremely complex activities.

Therefore, Saipem and Fincantieri will aim to help preserve the environment through their engineering and management experience and skills.