Abstract
Abstract In July 2015, the Council of the International Seabed Authority (ISA) adopted seven priority deliverables for the development of the exploitation code. The first priority was the development of a zero draft of the exploitation regulations. This article focusses on the second priority deliverable, namely the development of a payment mechanism for exploitation activities, following detailed financial and economic models based on proposed business plans. Between 2015 and 2017, five workshops have been organised with 196 active participants from 34 countries. The results so far are synthesised, drawing upon the outcome of these workshops, ISA technical papers, and the scholarly literature.
Highlights
In July 2015, the Council of the International Seabed Authority (ISA) adopted seven priority deliverables for the development of the exploitation code
This article synthesises the outcomes of five workshops held on the Deep Seabed Mining (DSM) payment regime sponsored by the International Seabed Authority (ISA) along with various partners
These workshops formed an integral part of the implementation of the requirements for a finan cial regime for DSM activities in/on the seabed and ocean floor and subsoil thereof beyond national jurisdiction set out in the Law of the Sea Con vention (LOSC), the legally binding instrument that governs these activities.[2]
Summary
In July 2015, the Council of the International Seabed Authority (ISA) adopted seven priority deliverables for the development of the exploitation code. This article synthesises the outcomes of five workshops held on the Deep Seabed Mining (DSM) payment regime sponsored by the International Seabed Authority (ISA) along with various partners (see Table 1).
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