The Norwegian government's project to allow mining on the sea floor has been put on hold as part of an agreement to pass its budget in parliament. The small environmentalist Socialist Left Party (SV) blocked plans to mine the Arctic sea bed by demanding the government cancel its first licensing round in exchange for backing the budget.
“We have used our negotiating power to stop licensing for deep sea mining for minerals,” Kirsti Bergsto, leader of the Socialist Left Party, said as cited by Bloomberg.
The statement was made at the end of negotiations with the coalition on next year's budget as part of a deal to get it through parliament.
Norway's hydrocarbon reserves have made it one of the richest countries in the world. It has also held a leading position in the extraction of metals from the ocean floor, which are in high demand due to Europe's abandonment of fossil fuels.
Norway had planned to open vast areas of its Arctic region next year for its first sea bed licensing round, as parliament approved deep-sea mining in January.
The agreement reached on Sunday between SV and the government means the planned licensing round will be canceled. The authorities added that although the plan was suspended, preparatory work would continue, including creating regulations and mapping the environmental impact.