Potential risks of developing countries in the process of exploration and extraction of deep-sea mineral resources

Abstract

<p>Deep sea mining involves the extraction of minerals from the ocean floor. As deep sea mining is a relatively new practice, there is still much to be learned about the technology and the potential risks associated with it by the developing countries. Developing states must ensure that proper safety measures are in place to prevent accidents and minimize the risk of environmental damage. While the potential benefits of deep sea mining are significant, it is essential to ensure that the process is carried out responsibly and sustainably to protect both the environment and local communities. Developing countries face numerous challenges when it comes to actively participating in deep-sea exploration. Some of these challenges include a lack of adequate resources, limited technological capabilities, and limited access to funding. Additionally, developing countries often lack the necessary legal frameworks and regulatory systems to effectively regulate deep-sea exploration, licensing and extraction activities, especially within the continental shelves and the Exclusive Economic Zones (EEZ). These challenges can make it difficult for developing countries to fully participate in this important area of scientific research for a sustainable blue economy. This paper suggests an effective partnership between oceanographic research institutes from developing countries with research institutes from countries like France, Germany, UK, Belgium, Netherlands, China and International seabed Authority (ISA) in deep sea marine scientific research. The paper identifies the need for a joint collaboration for the purpose of acquiring reliable data on the seabed topography, location, shape, coverage, and abundance of deep-sea mineral resources in the continental shelves, exclusive economic zones of developing countries, and area beyond the national jurisdiction. There is also a need to develop legal framework on deep sea policy for sustainable actualization of developing nations’ blue economy.<strong></strong></p>