《DEEPSEA MINING AND THE LAW OF THE SEA》

PART ONE: THE PARAMETERS OF OCEAN MINING1

1. The geological parameter3

1.1 Ocean space3

1.2 Differences between land and sea relevant to ocean mining3

1.3 The high seas and deep seabeds4

1.4 Ability to use the sea5

1.5 The geological definition of ocean space5

1.6 Ocean minerals8

1.6.1 Sea water minerals8

1.6.2 Deposits on the ocean floor8

1.6.3 Minerals within the crust of the sea floor9

1.7 Manganese nodules - structure and occurrence11

1.8 Summary17

2. The technological parameter19

2.1 Reconnaissance: prospecting and exploration20

2.2 Nodule retrieval24

2.3 Surface and transportation systems27

2.4 Processing29

2.5 Summary31

3.The economic parameter33

3.1 Myths and misconceptions about the minerals markets33

3.2 The question of minerals scarcity39

3.3 World minerals demand40

3.4 Estimating estimates of supply41

3.5 Nickel45

3.6 Cobalt46

3.7 Manganese49

3.8 Molybdenum51

3.9 Copper53

3.10 Summary54

4. The environmental parameter57

4.1 The environmental impact of deepsea mining58

4.1.1 The ocean bottom58

4.1.2 The water column and the ocean surface59

4.1.3 Transportation corridors60

4.1.4 The processing plant60

4.1.5 Waste disposal61

4.2 Monitoring the environmental impact of ocean mining62

4.3 Government regulation62

4.4 Summary64

5. The historical parameter66

5.1 Technology and man's changing relationship to the sea66

5.2 A chronology of maritime history as related to ocean mining and the Conference on the Law of the Sea68

5.3 Implications of maritime history for the deepsea mining debate75

5.3.1 From maritime law to Law of the Sea75

5.3.2 From two- to three-dimensional sea use76

5.3.3 From geopolitical to technological determinism:The Soviet example76

5.3.4 From common claims to interest-claiming81

5.4 Summary84

6. The theoretical parameter88

6.1 Roman law: a sea held common89

6.2 Medieval law: the common good89

6.3 The seventeenth century: assessing the fundaments of the common stock and private property90

6.3.1 The nature of water91

6.3.2 Things held common91

6.4 The eighteenth century: a common will through law95

6.5 The nineteenth century: the political economics of common ownership96

6.6 The twentieth century: the legal and theoretical premises of an international common98

6.6.1 Non-ownership100

6.6.2 Access101

6.6.3 International administration vs. enclosure104

6.6.4 Peace and world order105

6.6.5 Strong penal108

6.6.6 Strong promotive110

6.7 Summary111

7. The political parameter116

7.1 The issues116

7.2 The participants118

7.3 The major arena of the seabed debate122

7.4 The prizes at stake123

7.5 The process124

7.5.1 The procedural quandry127

7.5.2 The Conference structure127

7.5.3 The ‘informal negotiating procedure'128

7.6 Alternatives130

7.7 Summary133

PART TWO: THE OPTIONS OF OCEAN MINING137

8. Early efforts at model building139

8.1 The Group of 77 model141

8.1.1 Exploitation rights141

8.1.2 Resource policy143

8.1.3 Governance143

8.2 The U.S. proposals143

8.2.1 Exploitation rights144

8.2.2 Resource policy145

8.2.3 Governance145

8.3 Proposals by the European Community and Japan146

8.3.1 Exploitation rights146

8.3.2 Resource policy147

8.4 Canadian proposals147

8.5 Soviet proposals148

9. The Informal Single Negotiating Text （ISNT）150

9.1 Exploitation rights150

9.2 Resource policy151

9.3 Governance151

10. The Revised Single Negotiating Text （RSNT）153

10.1 Exploitation rights154

10.2 Resource policy154

10.3 Governance155

11. The Draft Convention （ICNT）159

11.1 Exploitation rights160

11.2 Resource policy160

11.3 Governance160

12. Contradictions underlying Conference negotiations164

12.1 Security of supply vs. resource control164

12.2 A new maritime treaty vs. customary law165

12.3 Producer vs. regulator functions165

12.4 Equity vs. efficiency objectives165

12.5 A government vs. agency format166

12.6 Assuming tasks vs. capability to fulfill them166

12.7 National vs. international control167

12.8 Present vs. future regime building167

12.9 National vs. common international interests168

12.10 Positive vs. negative covariance168

12.11 LBP assistance vs. market expansion168

12.12 Authority control vs. corporate and state financing169

12.13 The costs of control vs. benefit sharing170

12.14 Spontaneous vs. discretionary order building170

13. Exploitation rights: the legal option172

13.1 Establishing authority competence in deepsea mining172

13.1.1 Bequeathing personality to an intergovernmental agency172

13.1.2 The right of intergovernmental organizations to enter commercial joint arrangements173

13.2 Changes in mining agreements175

13.2.1 Demise of the traditional concession175

13.2.2 Increased risk176

13.2.3 Transformation of the mining contract177

13.2.4 Lateralization of ownership and finance178

13.2.5 Increased market intervention179

13.3 The exploitation mandate of the authority180

13.3.1 Applicable law180

13.3.2 Title to resources180

13.3.3 Transfer of title180

13.3.4 Transport, processing and marketing181

13.3.5 The exclusive or priority rights of the Authority182

13.4 Exploitation rights of private and state entities183

13.4.1 Access183

13.4.2 The plan of work183

13.4.3 Anti-monopoly provisions185

13.4.4 The application procedure188

14. Regulating recovery: the resource policy option197

14.1 Implementors197

14.2 Production controls199

14.3 Participation in international commodity agreements202

14.4 Priority rights and anti-monopoly restrictions204

14.5 Adjustment assistance to land-based producers206

15. Funding ocean mining: the financial option209

15.1 Costs209

15.2 The financial structuring of ocean mining210

15.2.1 Risk211

15.2.2 Project phases211

15.2.3 Research phase212

15.3 The ocean mining groups215

15.4 Financing the public Enterprise219

15.5 Taxation221

15.6 An offering of ocean mining securities223

15.6.1 A participating bond offering to state holders224

15.6.2 A straight or participation bond to private investors227

Conclusion. The legal route to the sea231

Postscript235

A. Calendar of major events in 1982 - UNCLOS 11235

B.Major changes to the seabed mining regime incorporated at Session 11237

C.Important amendment proposals by state delegations, not in-corporated in final Convention of the Law of the Sea at Ses-sion 11239

Appendices245

Appendix one. United Nations CP Working Paper No. 2 with Addendum 1246

Appendix two. Draft convention on the Law of the Sea （frag-ments）246

1. Part Ⅺ: The area246

2. Annex Ⅲ: Basic conditions of prospecting, exploration, and exploitation298

3. Annex Ⅳ: Statute of the enterprise319

Bibliography329