A study on the considerations relating to the regulations for prospecting and exploration for hydrothermal polymetallic sulphides and Cobalt-rich Ferromanganese Crusts in the area

Abstract

In August 1998, during the resumed fourth session of the Authority, the delegation of the Russian Federation reminded the Assembly that, in addition to polymetallic nodules, other mineral resources existed in the Area, including polymetallic sulphides and cobalt crusts, and requested the Authority to adopt rules, regulations and procedures for exploration for such resources. Pursuant to article 162, para.2(o)(ii), of the 1982 UNCLOS, such rules, regulations and procedures are to be adopted within three years of the date of such a request. This article reviewed the Draft Rules and Regulations for the Exploration and Exploitation of Sea-Floor Massive Sulphides and Cobat-rich Ferromanganese Crusts in the Area by ISA in 2001, and the Madang Guideline for Offshore Mineral Policy written in 1999 in respect of the international trends of polymetallic sulphides and cobalt crusts. Issues for size of mining area and relinquishment, application of the site-banking system, procedure for dealing with overlapping claims and precautionary approach etc. for the establishment of the norm of polymetallic sulphides and cobalt crusts are reviewed as consideration factors.