MANGANESE NODULES
16
Source: James R. Hein, US Geological Survey
Cobalt
Manganese
Nickel
Copper
Cook Islands manganese nodules
Global land-based reserves
Global land-based reserve base
0
5
10
15
20
25 Million tonnes
0
1000
2000
3000
4000
5000
6000 Million tonnes
0
30
60
90
120
150 Million tonnes
0
200
400
600
800
1000 Million tonnes
Metal tonnages in nodules from the Cook Islands compared to global reserves
Cobalt metal prices between 1976 and 2011
50
40
30
20
10
0
US dollar per pound
60
Source: SFP Metals, UK
1980
1985
1990
1995
2000
2005
2010
Figure 11 Current estimates of Cook Islands manganese nodules compared to global reserves.
In-place tonnage of cobalt, nickel, copper
and manganese in Cook Island nodules and a comparison with global land-based reserves and global land-based reserve base.
Figure 12 Global cobalt prices 1976-2011. Source SFP metals UK,
.
been very volatile (Figure 12). However, in recognition of the
growing demand (Figure 13) and in an effort to provide greater
price transparency, the London Minerals Exchange introduced
cobalt futures trading at the beginning of 2010. Cobalt is tra-
ditionally produced as a byproduct of the extraction of other
metals, such as copper or nickel (Figure 14). The economic
potential of the Cook Island nodules may increase if they are
found to contain significant concentrations of rare metals and
rare-earth elements. Determining this will require further geo-
chemical analyses.
