International Seabed Authority to probe whether mining contractors are complying with legal obligations
The International Seabed Authority (ISA) council meeting concluded on Monday, July 21, without a decision to adopt a mining code and has previously reinforced that mining should not start without such regulations being in place, the Deep Sea Conservation Coalition (DSCC) confirmed via a press release.
The ISA has also initiated an investigation into the actions of the Metals Company's (TMC) subsidiaries with respect to the application for deep seabed mining under the United States.
DSCC said that discussions over the past two weeks, "have laid bare the sheer scale and complexity of unresolved regulatory issues and multiple, outstanding matters that the international community must grapple with, placing further hurdles in front of the deep-sea mining industry."
The ISA council identified four themes encompassing further issues that require resolution. These are environmental matters; financial matters; regulatory, procedural and institutional matters; and governance matters.
DSCC said governments at the ISA are under growing pressure from TMC, which continues to pursue a plan to mine international waters unilaterally through the US. DSCC said the move by TMC is "widely condemned" by ISA member states.
In light of this, the ISA council initiated an investigation into whether mining contractors, including TMC, are complying with their legal obligations under their existing agreements at the ISA and the United Nations Convention on the Law of the Sea.
"This is a significant and necessary step for the body responsible for managing and safeguarding the international deep seabed, which acts as a deterrent to other industry actors who may be considering this rogue route," said DSCC.
"The ISA has agreed to initiate an investigation and it must be clear by now to TMC and its subsidiaries that they face a significant risk of losing their exploration contracts," Matthew Gianni, DSCC Co-Founder and Political Advisor, remarked.
