| one publication added to basket [363596] | Payment regimes for the exploitation of mineral resources in the Area and on the extended continental shelf: deep sea mining at a discount?
Willaert, K. (2020). Payment regimes for the exploitation of mineral resources in the Area and on the extended continental shelf: deep sea mining at a discount? COLR 16(4): 43-83
In: Zhongguo Haiyang Faxue Pinglun = China Oceans Law Review. China Review Culture Limited: Xianggang. ISSN 1813-7350, more
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law of the sea, deep sea mining, the Area, continental shelf, common heritage of mankind, equitable benefit-sharing |
| Abstract |
Given the significant commercial interests and huge investments in deep sea mining, it comes as no surprise that states and private enterprises are not only pursuing exploration and exploitation activities in the Area, but are also targeting mineral-rich patches on the continental shelf. Indeed, it must be noted that the same mineral resources that deep sea mining actors are keen to exploit in the Area, are also available within zones falling under national jurisdiction. However, crossing this legal border results in a different legal regime, as activities on the continental shelf are governed by the national legislation of the coastal state and are, therefore, not subject to the comprehensive international regime applicable to the Area. Nevertheless, a similar duty to provide financial contributions to the International Seabed Authority exists in case of exploitation activities on the continental shelf beyond 200 nautical miles. Taking into account that this payment system was already established by the Law of the Sea Convention back in 1982, it is necessary to assess to what extent the modalities and tariffs relate to the ones that are now being considered for its counterpart in the Area. Can we discern a logical balance or is deep sea mining on the extended continental shelf subject to discount rates and advantageous provisions? In order to clear this up, this article thoroughly analyzes the existing legal framework and the proposals which are currently being discussed at the International Seabed Authority, followed by a general comparison and several useful considerations. |
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