Norwegian lawmakers came to an agreement on a proposal that allows for deep-sea mineral exploration in the Arctic Ocean.

The deal was originally introduced in June 2023, but only gained enough support from Norway’s minority government and two large opposing parties on December 5, 2023.

It marks a major step in Norway’s strive to be an influential force in the commercial-scale seabed mining sector, as well as create more jobs and source critical minerals.

Norwegian Member of Parliament Baard Ludvig Thorheim said: “We believe, and hope, it will become the international standard for this activity. At the same time, it is important that it is a framework that is predictable for commercial players, on which we rely on for these activities.”

The initial bill has reportedly been amended by the Norwegian government and will be formally debated and voted on at the beginning of 2024.