41 
Economic Impacr or NopuLte MINING 
In attempting to predict the economic impact of nodule mining, 
variables other than the future metal production from nodules must be 
considered. Two such variables are the future metal production from 
traditional sources and projected demand for these metals. Supply and 
demand are also related to price. One method of assessing the economic 
impact of nodule mining is to estimate the degree of market penetra- 
tion or share of the market each metal produced from nodules is likely 
to have. The assumption is made that supply will equal total 
consumption. 
Projections of demand for the four major metals recovered from 
manganese nodules vary widely from one source to another. Projections 
compiled for the House Subcommittee on Oceanography vy the Con- 
eressional Research Service are presented in Table 7.24 Unless new uses 
for cobalt can be found, demand for this metal is likely to remain small. 
Output from nodule mining could significantly affect the cobalt 
market. By 1985 U.S. nationals recovering 7 million tons of dry nodules 
would be able to satisfy nearly two-thirds of projected U.S. needs for 
cobalt and more than one-third of world demand. 
24 U.S. Congress. House. Commitee on Merchant Marine and Fisheries. Deep seabed hard 
minerals. Hearings before the Subcommitee on Oceanography on H.R. 9 and H.R. 7782. 
93d Cong. Mar. 1, 28, 29, Apr. 3, 1973, and H.R. 12233 Feb. 26, 27, 28, 1974. Washington, 
D.C., U.S. Govt. Print. Off., 1974, p. 347. 
