The slow decline of Nautilus Minerals continues without much change. I reached out to several contacts both at Nautilus’s corporate offices and to colleagues within Papua New Guinea. Since last month, most of the board of directors and the current CEO have resigned, Nautilus was delisted from the Toronto stock exchange, and previously responsive sources […]
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Press Release UN Permanent Representatives, senior officials as well as many legal and scientific experts attending the Second Session of the Intergovernmental Conference for the conservation and sustainable development of marine diversity of Areas Beyond National Jurisdiction (BBNJ) in New York this week attended a side-event on Tuesday 26 March dedicated to acknowledging the 25 […]
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1. Outcomes from the LTC. In the next few weeks, the Legal and Technical Committee will release their draft regulations for mining polymetallic nodules in the Area. There will be an opportunity for comments and input from the deep-sea mining community prior to the LTC, Council, and General Assembly meetings this summer. 2. Patania II […]
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The Financial Model, the mechanism by which the ideals built into the founding principles of the ISA—that mineral resources in the high seas are the common heritage of humankind—are manifested in practice, is perhaps the most challenging component of launching any deep-sea mining venture. The financial model is predictive, based on myriad assumptions about what […]
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Last month brought grim news for the struggling Nautilus Minerals, once hailed as the world’s first viable deep-sea mining company. While ISA delegates were gathered in Jamaica, news broke that Nautilus secured relief from its creditors while it sought to restructure the company. Nautilus’s assets, including equipment, intellectual property, and mining leases are being auctioned […]
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Last month, representatives from member states, NGOs, contractors, and other stakeholders gathered in Kingston, Jamaica for Part I of the 25th Session of the International Seabed Authority. Over the course of a week, the General Council discussed and deliberated on the future of deep-sea mining, including how the financial model will be implemented, how to […]
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It was a cool week in Kingston as representatives from member states, observers, NGOs, and other stakeholders gathered at the International Seabed Authority to continue the quarter-century-long process of guiding mineral extraction in the high seas towards production. Discussions were broad in vision, focused in scope, and soberingly detailed. While everything from the percentage points […]
Read More Representatives from Member States, civil society organizations and contractors, gathered at the International Seabed Authority (ISA) Headquarters in Kingston, Jamaica, this week, for an open ended informal working group meeting established to advance discussions on the financial model for mineral exploitation in the international deep seabed area. Established by the ISA Council in July 2018, the […]
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You can buy a 5-lb bag of polymetallic nodules from the Clarion-Clipperton Fracture Zone on Amazon, right now. Depending on your vantage point and how long you’ve participated in the deep-sea mining community, this will either come as a huge surprise or be completely unexceptional. Prior to the formation of the International Seabed Authority, there […]
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The deep sea has a PR problem. Most people have little to no conception of what deep ocean ecosystems look like, what lives there, or how human well-being may depend on them. Deep-sea ecosystems provide many indirect services that benefit humanity, yet they are poorly quantified and infrequently discussed. A new paper by graduate student […]
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