ISA Issues Discussion Paper on the Development of Financial Terms for Exploitation in the Area

Discussion Paper

JAMAICA, Kingston (31 March 2015) -- The International Seabed Authority today issued a Discussion Paper aimed at the development and implementation of a payment mechanism for exploitation activities in the Area.

The Paper sets out the main objectives and principles relevant to the development of rules, regulations and procedures in connection with a payment mechanism under the exploitation regime. It considers feedback from stakeholders who responded to the 2014 Stakeholder Survey issued by the Authority. The Paper also presents a discussion for consideration by stakeholders on a number of points including a proposed payment mechanism and relevant terms.

Advancing a fair and equitable financial mechanism is particularly challenging. The main aim of the Discussion Paper is to act both as the starting point for discussion and to provide some structure and direction to that discussion. The Authority is conscious of the need to engage effectively with stakeholders on this matter, particularly current and potential investors in the Area. 

The Paper also highlights the necessity to obtain the latest financial, economic data, estimates and projections in order to build financial models to support assumptions and future recommendations to the Council.

Members of the Authority and all stakeholders are invited to comment on the Discussion Paper. A summary of the points raised by stakeholders and a plan for further development will be presented to the Council at the 21st Annual Session in July 2015.

The closing date of responses to the draft framework is Friday, 29 May 2015 at 1800hr (EST). Submissions can be sent by post to:

Discussion Paper – Payment mechanism (ISBA/Cons/2015/2)
International Seabed Authority 
14-20 Port Royal Street
Kingston
Jamaica

Submissions (in either Microsoft Word or PDF format) can also be emailed to: consultation@isa.org.jm .

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