The Secretariat of the International Seabed Authority (ISA) has commissioned a study to assesses the potential impact of polymetallic nodules production from the international deep seabed area (the Area) on the economies of developing land-based producer States of metals, which would be most seriously affected.
The recently released study was requested by the ISA Council and conducted based on the terms of reference endorsed by the ISA Legal and Technical Commission (LTC). The main objective of the study was to determine which States could potentially be impacted by mineral production from the Area, with a view to minimizing their difficulties and assisting these States in their economic adjustment.
“UNCLOS established ISA with the mandate of managing deep-sea mineral resources prudently and in such a way as to benefit everyone,” said ISA Secretary-General Mr. Michael W. Lodge. “As such, the financial model currently being developed through ISA includes the provision for some of the royalties from deep-sea mineral production to be allocated to developing land-based producer States of metals, where there has been a quantifiable impact on their economies.”
The study analyses 13 developing land-based producer States of metals, which could potentially be affected by the mining of polymetallic nodules in the Area. This includes Chile, the Democratic Republic of the Congo, Eritrea, Gabon, the Lao People’s Democratic Republic, Madagascar, Mauritania, Mongolia, Namibia, Papua New Guinea, Peru, Zambia and Zimbabwe.
The study prepared by the All Russian Scientific Research Institute of Mineral Resources, will be considered by the LTC at its 26th Session in July 2020 and any recommendations made by the LTC will be submitted to the Council for its consideration.
To study is accessible at: https://www.isa.org.jm/files/documents/impactstudy.pdf
For media enquiries, please contact:
Ms. Katie Elles, Communications Specialist, International Seabed Authority M: +1 (876) 835 3801/ E: kelles@isa.org.jm
—————–
For more information visit our website www.isa.org.jm or follow us on Twitter @ISBAHQ