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China Gains Unique Right to Prospect 75,000 sq km Int'l Seabed
China will enjoy the unique right to prospect for polymetallic nodules in 75,000 sq km of international seabed.
This was revealed by a contract signed here Tuesday between the China Ocean Mineral Resources Research and Development Association (COMRRDA) and the International Seabed Authority (ISA).
And, China will enjoy priority in the development of the mineral when it is put into commercial development, according to the contract.
With approval from the United Nations, China was given the right to explore resources in 150,000 sq km of sea areas in the Pacific Ocean in 1991 and 75,000 sq km of seabed was considered fit for mining following research over the past ten years.
China will bear the responsibilities according to the contract and continue to take an active part in international exploration of other seabed resources, said Jin Jiancai, secretary-general of the COMRRDA.
The international seabed covers an area of 250 million sq km, accounting for 49 percent of the earth's surface. About 70 billion tons of polymetallic resources, which are of high industrial exploration value, are located in the seabed 4,000 to 6,000 meters below the sea surface.
According to the United Nations Convention on the Law of the Sea, the international seabed is considered the common property of all humans and the rights to prospect for seabed resources are administered by the ISA.
The ISA has signed contracts with Russia and the Republic of Korea in prospecting for polymetallic nodules in the seabed and it will sign such contracts with France, Japan and India in the near future.
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