New opportunities for miners are beginning to appear through new discoveries, improved knowledge and access to vast unexplored areas of the deep sea and continental shelf. Recent discoveries of undersea hydrothermal deposits show evidence of high-grade mineralisation, although in many instances the extent of the resource is still unknown. The promise and the difficulties of undersea mining have been evident since attempts were first made to mine manganese nodules in the 1960s. The physical nature of the undersea resource is a key influence on its mining potential; and environmental issues will also become increasingly important. This paper explores these issues and concludes with a description of the immediate to medium term applied research required to develop this industry and the spin off that such research can provide.