KINGSTON, JAMAICA, 29 August 2013 – – The Interridge/ISA Endowment Fund Fellowship Programme recently awarded fellowships to two students from developing countries.

The International Seabed Authority reached a milestone in its administration of the mineral resources of the deep seabed Area with the approval of exploration plans for cobalt-rich ferromanganese crusts by Chinese and Japanese entities as it concluded its nineteenth session a day earlier in Kingston (15-25 July).

The nineteenth session of the International Seabed Authority ended a day early in Kingston on Thursday 25 July after its Assembly completed debate on the Secretary-General’s annual report and acted on four decisions.

The International Seabed Authority received a contribution of US$20,000.00 to its Voluntary Trust Fund from the Government of the People’s Republic of China on 3 July 2013.

The Council of the ISA, at its final meeting of the 19th Session, this morning recommended the adoption by the Assembly of a draft decision to institute a fixed overhead charge of $47,000 to be payable annually by contractors to cover the administration and supervision of contracts and review of their annual reports by the Authority.

In the wake of renewed interest in potential commercial exploitation for deep seabed minerals, the Council of the International Seabed Authority reviewed a summary Secretariat note from a technical report that provided a framework for polymetallic nodule exploitation in the Area.

A new and significant development in the work of the International Seabed Authority was reached in Kingston this morning when the Authority’s Council decided to approve the plans of work for exploration of cobalt-rich ferromanganese crusts submitted by two corporations sponsored by China and Japan.

The ISA Council today continues discussions on the LTC Report presented by its Chairman, Dr. Russell Howorth.

During its meeting held 8-12 July in Kingston, the Commission has selected 8 candidates for its Contractor Training Programmes.