[Reading Tip] 5 Moon 12 On [date], China Minmetals Corporation and the International Seabed Authority signed an exploration contract for an international polymetallic nodule mining area in Beijing, marking a significant step forward for Chinese enterprises in actively engaging in international cooperation and exchange for the exploration and development of international seabed mineral resources, and demonstrating their commitment to accelerating the transition from exploration to development of these resources.

Today, both enterprises that are deliberately venturing into deep-sea exploration and development, as well as international organizations and governments of various countries that have been closely monitoring the development of deep-sea mineral resources for many years, are paying close attention to the formulation of provisions and the overall progress of the International Seabed Mineral Resources Development Regulations. Let’s turn to the authoritative interpretation provided by experts from the Development Research Center of the China Geological Survey.

Exploration of international seabed mineral resources is accelerating, and the era of commercial mining may be just around the corner.

According to 1982 The United Nations Convention on the Law of the Sea, adopted in [year], designates as “the common heritage of mankind” all areas beyond the territorial seas, contiguous zones, exclusive economic zones, and continental shelves of individual states. , known as the “Area.” To this end, the United Nations officially brought into effect the United Nations Convention on the Law of the Sea. 1994 Year 11 Moon 18 The International Seabed Authority was officially established on [date], taking over the unified management of the international seabed. The area under the jurisdiction of the International Seabed Authority reaches... 2.3 100 million square kilometers, which is the world's land area. 1.5 Twice.

The international seabed is rich in mineral resources, primarily consisting of polymetallic nodules, polymetallic sulfides, and cobalt-rich ferromanganese crusts. It is estimated that the total resource volume of polymetallic nodules on the ocean floor amounts to approximately... 3 Trillion tons, with commercial exploitation potential. 750 100 million tons; the estimated cobalt resource amount in seabed cobalt-rich crusts is approximately 10 hundreds of millions of tons. Moreover, in recent years, substantial rare-earth resources have been discovered in the deep sea—just the reserves of rare-earth elements in deep-sea sediments of the Pacific Ocean alone amount to... 880 100 million tons.

Countries around the world attach great importance to deep-sea strategic resources. Ocean-developed countries such as the United States and the United Kingdom... 20 Century 60 In the early years, survey activities on polymetallic nodules in the international seabed area were initiated. 70 The exploration and mining trials for polymetallic nodules have been completed, up to... 80 By the end of the decade, the technological groundwork for commercial exploitation of polymetallic nodules had been largely completed. In recent years, deep-sea mining companies from countries such as Canada and the United Kingdom have been stepping up their efforts to develop mining technologies. Deep-sea mineral resource development enterprises, exemplified by Canada’s Nautilus Minerals, have officially begun work related to seabed mining. Among these projects, the company’s Solwara Phase I copper-gold mine project in the Bismarck Sea off Papua New Guinea is expected to— 2019 It will go into production this year, making it the first deep-sea mining project to begin commercial operations.

With advancements in deep-sea mining technology and improvements in supporting technologies such as underwater robots, communications, and power supply, deep-sea mining is becoming increasingly feasible.

The exploration contract has been extended beyond its original expiration date, but the environmental challenges associated with deep-sea mining technology still remain to be addressed.

According to the United Nations Convention on the Law of the Sea, governments and enterprises of various countries may submit applications for mining areas to the International Seabed Authority and share their rightful interests.

To further strengthen the management of seabed resource exploration activities, the International Seabed Authority has... 2000 The “Regulations on Prospecting and Exploration for Polymetallic Nodules in the ‘Area’” were issued this year. 2010 In the year, the “Regulations on Prospecting and Exploration for Polymetallic Sulfides in the ‘Area’” were issued. 2012 In the same year, the “Regulations on Prospecting and Exploration of Cobalt-Rich Ferromanganese Crusts in the ‘Area’” were issued. The introduction of these three regulations provides guidance for countries worldwide seeking to apply for exploration blocks.

According to the exploration regulations, in 2001 In that year, companies and organizations from countries including China, Russia, Japan, and France successively applied for and obtained some of the world’s first exploration blocks for polymetallic nodules, and signed agreements with the International Seabed Authority for a period of... 15 The exploration contract for the year granted rights to explore international seabed mineral resources. From... 2001 So far this year, the International Seabed Authority has issued [permits/licenses] in the waters of the Pacific Ocean, the central Atlantic Ocean, and the Indian Ocean. 28 Several different mineral exploration permits, with applicants from: 15 countries and regions, with exploration block areas reaching 120 Ten thousand square kilometers.

According to the contract provisions, upon expiration of the exploration work plan period, the contractor shall apply for a development work plan. Since most contractors face challenges in various areas—including technical conditions, mineral product prices, environmental protection, and legal and regulatory requirements— 2016 The owners of exploration contracts for various blocks that are due to expire have all applied for extensions, pending approval by the International Seabed Authority. 22 The current board of directors discussed and decided to postpone. 5 Year.

Next, addressing a series of issues—such as the high costs of deep-sea mining technology, significant investment risks, and whether environmental pollution can be effectively controlled—as well as filling gaps in development regulations, remain key concerns for both regulators and investors.

The International Seabed Authority is accelerating its pace in drafting regulations for deep-sea mineral exploitation.

In fact, the development of regulations for international seabed mineral resources had already begun... 2010 The project entered the early-stage preparation phase this year.

2010 Year, International Seabed Authority No. 16 At the annual meeting, countries including Russia, Mexico, India, Brazil, and Argentina proposed initiating research on mining regulations at an early stage. 2011 At the annual session of the International Seabed Authority Council, the Fijian delegation proposed initiating the drafting of regulations for the exploitation of mineral resources in the “Area.” The Secretariat of the International Seabed Authority has begun preparing a strategic plan for drafting these exploitation regulations.

2012 Year, at the 1st session of the International Seabed Authority 18 At the current session of the Council, the Secretary-General presented the “Work Plan for Developing Regulations Governing the Exploitation of Polymetallic Nodules in the Area,” and designated the development of such regulations as a priority item in the work program of the International Seabed Authority, marking the formal inclusion of the development of regulations for deep-sea mineral resource exploitation on the agenda.

2013 In [year], the Legal and Technical Commission of the International Seabed Authority issued a technical document titled “Efforts to Develop a Regulatory Framework for Polymetallic Nodule Mining in the ‘Area’,” which briefly discusses the background of mineral resource development activities within the ‘Area’ as well as the potential challenges and solutions for establishing an appropriate regulatory regime.

2014 Year 3 In the month, the Committee on Law and Technology conducted a stakeholder questionnaire survey aimed at developing a regulatory framework for the exploitation of mineral resources in the “Area,” which received a broad response and yielded numerous submissions. 55 Feedback from relevant member states, contractors, non-governmental organizations, and research institutions.

2015 Year 3 Based on a comprehensive consideration of the perspectives of all stakeholders, the Legal and Technical Commission has issued to the members of the International Seabed Authority and other interested parties the “Draft Framework for Regulations Governing Exploration and Exploitation Activities in the ‘Area’,” along with a proposed plan of activities and schedule for the coming period. The plan suggests that... 2016 Year 1 The moon has formed a preliminary draft. 2016 Year 3 The month once again seeks input from stakeholders, 2016 Year 7 Submit to the Board of Directors for review on a monthly basis.

2016 Year 7 In June, the International Seabed Authority released the “Framework for the Development of Mineral Resources in the ‘Area’” and launched a broad consultation process. As of... 2016 By the end of the year, the website of the International Seabed Authority had published a total of 43 Feedback received from countries, enterprises, and relevant international organizations, among which 6 The feedback comments were not made public at the request of the respondents. The draft includes a total of: 11 each part, 9 An appendix. The main contents include: application for development contracts, development contracts, adjustments to mining plans, financial terms, information acquisition and processing, general provisions, inspections, enforcement and penalties, dispute resolution, and regulations of the reviewing authority, etc.; 9 The appendices are as follows: Feasibility Study, Mining Plan, Financial Plan, Handling of Emergencies and Contingency Plan, Mining Contract and Schedule, Standard Clauses of the Mining Contract, Monetary Penalties for Breach of Contract, and Other Expense Schedule.

Based on feedback provided by governments and other stakeholders, governments generally expressed support for the draft. Most conducted a comprehensive assessment of the draft and offered directional suggestions for amendments, such as clarifying relevant concepts and scopes, refining environmental regulations, defining responsibilities more explicitly, and taking into account the duration of mining operations. Mining companies engaged in seabed resource development have largely studied the draft’s specific provisions. Their comments primarily focused on aspects like mining duration, requirements for eligibility to apply, and fees to be collected. Relevant international organizations also submitted their views on areas of particular concern, with most of these comments centering on environmental protection. Sea at Risk Environmental organizations representing the marine sector explicitly oppose the development of seabed resources, stating that no mining permits should be issued until the environmental impacts of deep-sea mining have been thoroughly assessed. Meanwhile, many other international organizations are deeply concerned about the environmental impacts of seabed resource development and have put forward specific recommendations emphasizing the need to carefully evaluate the damage to the seabed environment and potential adverse effects.

Enter 2017 In recent years, the International Seabed Authority has significantly accelerated the pace of developing regulatory frameworks.

2 In June, the Committee on Law and Technology held a workshop in Jamaica to discuss the draft regulations for the exploitation of mineral resources in the “Area,” taking into account the views of various stakeholders. 3 In Berlin, a seminar was held on environmental regulations for mineral resource development within the “region,” during which discussions focused on establishing constraints to address the environmental impacts caused by seabed exploitation. 4 The month saw a special seminar held in Singapore to discuss the provisions on payment mechanisms within the development regulations.

China actively participates in international deep-sea governance, showcasing its image as a responsible major country.

China is the fifth country in the world to register as an International Seabed Pioneer Investor, with exploration areas located in the western Pacific Ocean, the Southwest Indian Ocean Ridge, and the eastern Pacific Ocean. CC The district hosts mineral resources such as polymetallic nodules, polymetallic sulfides, and cobalt-rich ferromanganese crusts. 4 A mining area with a total area of 16.1 Ten thousand square kilometers.

China is not only a direct participant in international seabed mining but also an active practitioner committed to fulfilling its international obligations and assuming its international responsibilities. The Chinese government has consistently and actively participated in, and honored, its commitments within the international community. From the very beginning, it has taken part in all sessions dedicated to drafting the United Nations Convention on the Law of the Sea, signing the Convention on its opening day for signature, and— 1996 The initiative was approved by the National People's Congress. Meanwhile, during the preparatory and developmental stages of the International Seabed Authority, Zhang Bingxi, Li Yuwei, Zhang Hongtao, Zhang Haiqi, and Wu Jun successively served on expert bodies such as the Legal and Technical Commission of the International Seabed Authority, actively participating in the formulation of relevant laws and the management of international ocean affairs. They proactively safeguarded the interests of developing countries, thereby demonstrating the image of a responsible major country.

To further enhance China’s proactive role in the formulation of regulations for the development of seabed mineral resources, in... 4 At the “Seminar on Regulations for Mineral Resource Development in the ‘Area’ of the International Seabed Authority,” hosted by the Development Research Center of the China Geological Survey, former member of the Legal and Technical Commission Zhang Haiqi argued that, drawing on past experience in drafting exploration regulations by the International Seabed Authority, development regulations involve a broader range of issues and more complex interests. Moreover, countries differ significantly in their technological levels, stages of development, and respective positions, making coordination even more challenging. As a responsible major country, China should take the initiative to actively guide and participate in the formulation of specific provisions of these regulations, paying particular attention to striking a balance between environmental protection and resource development, as well as between short-term gains and sustainable development. Li Yuwei, who also served as a member of the Legal and Technical Commission, echoed this view, noting that while the drafting of these development regulations is urgently needed, it is crucial to ensure their practicality. He emphasized the importance of widely soliciting input from mining experts and metallurgical specialists and drawing on relevant management practices for terrestrial mineral resources to facilitate the development and issuance of these regulatory provisions—avoiding any rush to achieve quick results. Wu Jun, the current member of the Legal and Technical Commission, stated that the drafting of these regulations must fully embody the principle of protecting and rationally developing the “common heritage of all mankind.” He added that further in-depth research is necessary, along with extensive engagement of experts from various fields, and that their feedback should be reflected in the decisions made by the Council of the International Seabed Authority.

Faced with the intense international competition in the deep seabed, China, in addition to actively participating in and playing a significant role in the formulation of relevant regulations, must also accelerate the research and development of deep-sea mining technologies and equipment, build up related technical expertise, and remain fully prepared for the exploitation of seabed resources—striving to become one of the first investors in deep-sea mining. At the same time, we must conduct thorough assessments of the impact of deep-sea mining on the marine ecosystem, thereby making our own contribution to the rational exploration and utilization of the “common heritage of mankind.”

(Affiliation of the author: Development Research Center, China Geological Survey)