The world is set to debate seabed mining regulations, but the U.S. will be on the outside looking in
"The world is set to debate seabed mining regulations, but the U.S. will be on the outside looking in" — Jordan Wolman — Politico — March 22, 2022
After a lengthy pandemic pause, the International Seabed Authority is set to debate mining regulations but the U.S. is sidelined in the discussions as a non-party to UNCLOS.
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The development of deep seabed claims is incredibly expensive. Companies in the U.S. are reluctant to invest heavily in deep seabed mining because of the risk that their activities would not withstand a legal challenge since the U.S. is not a party to the Convention. Conversely, foreign companies, because their governments have joined the Convention, have access to the international bodies that grant the legal claims to operate in the deep seabed area. The U.S. cannot represent the interests of its companies in those bodies.
Keywords:Related Quotes:- DSHMRA does not give mining companies the needed certainty they need to operate in international waters
- Lack of legal certainty has stalled deep seabed mining industry
- US accession to the convention would provide domestic deep seabed mining industry strong leadership and legal stability
- Seabed mining companies will only lose rights if US remains outside of UNCLOS
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