The future of seabed mining

Conference · Sat Jan 01 04:00:00 EST 1983 · Mater. Soc.; (United States)

OSTI ID:5690265

Ratiner, L

The Law of the Sea Treaty provides for taxation on mineral ventures which occur in the deep seabed. The rate of taxation is quite small in comparison with the taxes normally paid to developing countries where the same minerals might otherwise be retrieved. The Law of the Sea Treaty has been criticized for being excessively bureaucratic. It sets up an international instituion with regulatory bodies and voting systems for monitoring and enforcement of mining activities at the bottom of the ocean. All of the countries in which minerals are exploited do likewise. From that persepctive, one needs to give some consideration to whether or not the Law of the Sea Treaty provides an adequate basis for investment. Deep sea mining companies in the U.S. have said that it does not, and that ocean mining will simply not proceed under the Law of the Sea Treaty. The United States has objected to the treaty but will probably sign in order to secure freedom of navigation through the Straits of Gibraltar and other straits which would be overlapped by the emerging 12-mile territorial sea law. (JMT)

• Research Organization: Dickstein, Shapiro and Morin, Washington, DC
• OSTI ID: 5690265
• Conference Information: Journal Name: Mater. Soc.; (United States) Journal Volume: 7:1
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290400* -- Energy Planning & Policy-- Energy Resources
COOPERATION
INTERNATIONAL COOPERATION
INTERNATIONAL LAWS
LAWS
MINERAL RESOURCES
MINING
RESOURCES
SEAS
SURFACE WATERS
TERRITORIAL WATERS
TREATIES