Rational development of sea-bed resources: Issues and conflicts

Abstract

Abstract In order to achieve a rational development of sea-bed resources it will be necessary to resolve the conflict of interests between the present producers of the minerals involved (especially if they are developing countries) and the future ones. An analysis shows that it is improbable that hydrocarbon production from the sea-bed area under international jurisdiction will depress oil and gas prices in the foreseeable future. Technical problems are likely to make the recovery from the sea-bed of metalized muds, hot brines, and manganese encrustation uneconomic in the coming decades. Manganese nodules, containing Cu, Ni, Co, and Mn, will perhaps be mined from the sea-bed by the end of this decade. It is concluded that even in the absence of controls, the levels of nodule exploitation which are likely to occur in the future would not depress copper prices. It may be necessary to slow down the recovery of cobalt and manganese from the nodules by the imposition of a “tax” brake, and to provide compensation to the developing countries that would be affected by the nodule industry. It is expected that any serious pressure on nickel prices would be slow to arise, and that the new marine producers and the traditional exporters will find it mutually advantageous to negotiate arrangements to prevent serious market disturbances.