OceanGate CEO Stockton Rush planned to use his Titan submersible to cash in on deep-sea mining — the 'biggest gold rush in history' that could cause environmental destruction

• Stockton Rush said in a 2017 interview that his Titan submersible could be used in deep-sea mining.
• But Marine scientists say deep-sea mining could negatively affect marine life on the ocean floor.

Stockton Rush, the OceanGate CEO who died in his Titan submersible last month, planned to use the vessel for deep-sea mining — a practice that has come under increased scrutiny as companies can now apply to harvest resources from the bottom of the ocean.

In a 2017 interview with Fast Company, Rush said his early customers would pay extra to be among the first paying tourists to visit the ocean's depths. This would mean the amount he could charge for a seat on the experimental sub — $250,000 for the Titan's last voyage — would decrease as he took more people on dives to the Titanic.

But the Titanic tourism dives weren't the only use Rush envisioned for the submersible.

"The biggest resource is oil and gas," Rush told Fast Company, adding that energy companies "spend about $16 billion a year on robots to service oil and gas platforms." Rush said he thought the success of OceanGate's tourism dives could prove to the companies that his submersible could be utilized in deep-sea-mining operations.

What is deep-sea mining?

Deep-sea mining involves extracting resources from the seabed, including mineral deposits and metals such as nickel, copper, and lithium. Proponents of deep-sea mining say it can help address the demand for materials needed for electric vehicles, the clean-energy transition, and everyday items such as smartphones and laptops.

But critics worry deep-sea mining could have devastating effects on the oceans and marine life, including ecosystems about which much is still unknown. Marine scientists say not enough research has been conducted in the deep sea to fully assess the potential implications of mining operations.

According to a study published in May, scientists discovered more than 5,000 previously unknown species in an area of the deep ocean that has been identified as a target for deep-sea mining.

Now some scientists are warning the "biggest gold rush in history" — as the British economist Guy Standings recently put it — could soon play out as companies vie for the chance to mine the seabed.

The sea floor of international waters is governed by the United Nations Convention on the Law of the Seas, which was signed in 1982 and lays out a legal framework for managing the Earth's oceans and marine resources. The treaty said that the seabed was the "common heritage of mankind" and that it should be managed in a way that protects it and benefits humanity.

In June 2021, the Pacific Island nation of Nauru submitted an application to the UN's International Seabed Authority to start commercial deep-sea mining. This triggered a clause in the treaty that gave the UN two years to review and establish rules for mining operations.

As that deadline came and went, countries are still in talks, with delegates of the International Seabed Authority meeting in Jamaica for two weeks of talks, the BBC reported. The outlet said countries might have the chance to vote on a deep-sea-mining ban later this month.

In the meantime, companies can apply for provisional licenses to start mining the deep sea.

More countries have come out against initiating deep-sea mining. Canada, Germany, Switzerland, Ireland, and Spain are among the nations calling for a moratorium or a pause on deep-sea mining because of environmental concerns.

Rush told Fast Company that he saw the potential for his subs to be used in operations to harvest oil and gas, diamonds, and rare earth minerals.

A report released in March by Fauna & Flora, an international conservation charity, said deep-sea mining for rare metals would cause "extensive and irreversible" damage and a loss in biodiversity that would be " impossible to restore."