Norway's government reached an agreement with a small progressive party to not mine in the Arctic in exchange for it supporting its budget.

Norway has shelved plans to open a vast ocean area at the bottom of the Arctic for commercial-scale deep-sea mining.

OSLO, Dec 1 (Reuters) - Norway will not proceed with plans to conduct deep-sea mining, the SV party which supports the minority centre-left government said on Sunday, after it concluded negotiations over next year's budget with the coalition.

Norway agreed on Sunday to stop the first round of licensing for Arctic deep-sea mining following pressure from the Socialist Left Party (SV), reported

Norway’s plans to begin deep-sea mining in the Arctic were suspended on Sunday after a small leftist party demanded the government scrap its first licensing round in exchange for supporting

A small left-wing environmentalist group, secured an agreement to delay the initiative in exchange for supporting the national budget.

Norwegian government has agreed to stop first licensing round for deep sea mining in Arctic waters after mounting pressure

After more than a year of massive pressure from activists, scientists and the international community, the Norwegian government has agreed to stop the first licensing round for deep sea mining in Arctic waters.

Norway suspended its plans to open vast areas of its seabed for deep-sea mining on Sunday (December 1), reacting to pressure from environmental groups and political negotiations. The original proposal from the Norwegian government would have allowed companies to apply for licenses to mine around 280,

The government, however, intends to continue preparatory work, including the regulations development and environmental impacts assessment.