On June 26, the Norwegian Ministry of Energy released a proposal for the first licensing round for mining of seabed minerals, setting out areas where companies could eventually apply for licenses. The proposal included a total of 386 blocks, constituting nearly 106,000 square kilometers (40,900 square miles), an area about the size of Iceland, that could potentially be used for mining activities.

The licensing round proposal included a three-month public consultation period, which closed Sept. 26.

Terje Aasland, Norway’s minister of energy, previously stated that he intended to begin awarding mining licenses in the “first half of 2025” with a view to starting commercial extraction in 2030.

The licenses due to be awarded will be exploitation licenses — not exploration licenses.