Deep Sea Mining Rules to be Framed by The International Seabed Authority by 2025!

The International Seabed Authority has come up with the resolution to solve the problem of exploitative seabed mining practices by nations by drafting the international framework for regulating seabed mining within the next 2 years, that is by 2025.

What is Seabed Mining?

Seabed mining includes the exploitation and exhaustion of minerals found at the seabed in the depths of the oceans. These minerals include Cobalt, Nickel, Copper, Manganese and a huge stock of polymetallic nodules which are rarely found on earth.

The Current Framework for Regulation of Seabed Mining

Currently there is no hard and fast framework that regulates nations on an international level with regard to seabed mining. The United Nations Convention on The Law of The Sea or the UNCLOS is the only international convention dealing with the oceans. The International Seabed Authority also finds its origin in the UNCLOS, however very few countries are signatories and parties to the UNCLOS resulting in no uniformity of consensus. The inactivity of the International Seabed Authority is also a major problem.

The only principle governing deep sea mining is the principle of “Common Heritage” laid down by the UNCLOS which asserts that countries must exploit resources with a view towards sustainable growth and sharing of resources with other countries as well. The resolution by the ISA to speed up the process of drafting an international statute comes as a positive step towards protecting the marine environment.

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