Many are looking to a new resource, deep sea minerals, thanks to growth in demand from emerging economies and the development of new technologies that require increased supply of metals such as copper.
While interest in mining metals from the deeps has been ongoing since the 1960s, activity has remained low, due to low metal prices and the challenges of operating in deep sea environments. This activity is also the focus of strong local and environmental opposition.
Slowly, however, the pieces have been falling into place to permit this activity. In 1982, the United Nations Convention on the Law of the Sea (UNCLOS) established the International Seabed Authority (ISA), based in Jamaica, to organize and regulate mineral-related activities in seabed areas beyond the limits of national jurisdictions. Continue Reading →