Why Is Manganese not Mined on the Seabed Given That

question 72

Multiple Choice

Why is manganese not mined on the seabed given that there are abundant manganese nodules in some parts of the ocean floor?

• A) It is not economical to mine manganese nodules at present- day world prices for manganese and associated metals in nodules.
• B) The manganese market is held by a global cartel who prevent the material from being mined.
• C) It is impossible to extract the nodules from the seafloor with present- day technology.
• D) The manganese is too difficult to extract from the nodules; a new technology is needed.

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Definitions:

Discounting Note Receivable

The process of reducing the value of a note receivable to reflect its current worth by applying an interest rate.

Endorsing Note

A legal act of signing the back of a negotiable instrument, such as a check, to assign its benefits to another party.

Bank Discount Rate

The interest rate at which a country's central bank lends money to domestic banks, often used as a benchmark for other interest rates.

Proceeds of the Note

The total amount of money received from issuing a note payable, including the principal and any interest.