Toward the Development of a Regulatory Framework for Polymetallic Nodule Exploitation in the Area

Renewed interest in the potential for commercial exploitation of deep seabed polymetallic nodules has resulted from the following factors; a) a dramatic increase in demand for metal; b) an equally dramatic rise in metal prices; c) the high profitability of mining sector companies; d) a decline in the tonnage and grade of land-based nickel, copper and cobalt sulphide deposits; and e) technological advances in deep seabed mining and processing.

Author Biography

The International Seabed Authority (www.isa.org.jm) is an intergovernmental organization established on 16 November 1994, with the entry into force of the 1982 United Nations Convention on the Law of the Sea. Its headquarters are in Kingston, Jamaica. The Authority organizes and controls activities on the deep ocean floor in areas beyond the limits of national jurisdictions with a view to administering the mineral resources in that area.