PART ONE: THE PARAMETERS OF OCEAN MINING 1
1. The geological parameter 3
1.1 Ocean space 3
1.2 Differences between land and sea relevant to ocean mining 3
1.3 The high seas and deep seabeds 4
1.4 Ability to use the sea 5
1.5 The geological definition of ocean space 5
1.6 Ocean minerals 8
1.6.1 Sea water minerals 8
1.6.2 Deposits on the ocean floor 8
1.6.3 Minerals within the crust of the sea floor 9
1.7 Manganese nodules - structure and occurrence 11
1.8 Summary 17
2. The technological parameter 19
2.1 Reconnaissance: prospecting and exploration 20
2.2 Nodule retrieval 24
2.3 Surface and transportation systems 27
2.4 Processing 29
2.5 Summary 31
3.The economic parameter 33
3.1 Myths and misconceptions about the minerals markets 33
3.2 The question of minerals scarcity 39
3.3 World minerals demand 40
3.4 Estimating estimates of supply 41
3.5 Nickel 45
3.6 Cobalt 46
3.7 Manganese 49
3.8 Molybdenum 51
3.9 Copper 53
3.10 Summary 54
4. The environmental parameter 57
4.1 The environmental impact of deepsea mining 58
4.1.1 The ocean bottom 58
4.1.2 The water column and the ocean surface 59
4.1.3 Transportation corridors 60
4.1.4 The processing plant 60
4.1.5 Waste disposal 61
4.2 Monitoring the environmental impact of ocean mining 62
4.3 Government regulation 62
4.4 Summary 64
5. The historical parameter 66
5.1 Technology and man's changing relationship to the sea 66
5.2 A chronology of maritime history as related to ocean mining and the Conference on the Law of the Sea 68
5.3 Implications of maritime history for the deepsea mining debate 75
5.3.1 From maritime law to Law of the Sea 75
5.3.2 From two- to three-dimensional sea use 76
5.3.3 From geopolitical to technological determinism:The Soviet example 76
5.3.4 From common claims to interest-claiming 81
5.4 Summary 84
6. The theoretical parameter 88
6.1 Roman law: a sea held common 89
6.2 Medieval law: the common good 89
6.3 The seventeenth century: assessing the fundaments of the common stock and private property 90
6.3.1 The nature of water 91
6.3.2 Things held common 91
6.4 The eighteenth century: a common will through law 95
6.5 The nineteenth century: the political economics of common ownership 96
6.6 The twentieth century: the legal and theoretical premises of an international common 98
6.6.1 Non-ownership 100
6.6.2 Access 101
6.6.3 International administration vs. enclosure 104
6.6.4 Peace and world order 105
6.6.5 Strong penal 108
6.6.6 Strong promotive 110
6.7 Summary 111
7. The political parameter 116
7.1 The issues 116
7.2 The participants 118
7.3 The major arena of the seabed debate 122
7.4 The prizes at stake 123
7.5 The process 124
7.5.1 The procedural quandry 127
7.5.2 The Conference structure 127
7.5.3 The ‘informal negotiating procedure' 128
7.6 Alternatives 130
7.7 Summary 133
PART TWO: THE OPTIONS OF OCEAN MINING 137
8. Early efforts at model building 139
8.1 The Group of 77 model 141
8.1.1 Exploitation rights 141
8.1.2 Resource policy 143
8.1.3 Governance 143
8.2 The U.S. proposals 143
8.2.1 Exploitation rights 144
8.2.2 Resource policy 145
8.2.3 Governance 145
8.3 Proposals by the European Community and Japan 146
8.3.1 Exploitation rights 146
8.3.2 Resource policy 147
8.4 Canadian proposals 147
8.5 Soviet proposals 148
9. The Informal Single Negotiating Text （ISNT） 150
9.1 Exploitation rights 150
9.2 Resource policy 151
9.3 Governance 151
10. The Revised Single Negotiating Text （RSNT） 153
10.1 Exploitation rights 154
10.2 Resource policy 154
10.3 Governance 155
11. The Draft Convention （ICNT） 159
11.1 Exploitation rights 160
11.2 Resource policy 160
11.3 Governance 160
12. Contradictions underlying Conference negotiations 164
12.1 Security of supply vs. resource control 164
12.2 A new maritime treaty vs. customary law 165
12.3 Producer vs. regulator functions 165
12.4 Equity vs. efficiency objectives 165
12.5 A government vs. agency format 166
12.6 Assuming tasks vs. capability to fulfill them 166
12.7 National vs. international control 167
12.8 Present vs. future regime building 167
12.9 National vs. common international interests 168
12.10 Positive vs. negative covariance 168
12.11 LBP assistance vs. market expansion 168
12.12 Authority control vs. corporate and state financing 169
12.13 The costs of control vs. benefit sharing 170
12.14 Spontaneous vs. discretionary order building 170
13. Exploitation rights: the legal option 172
13.1 Establishing authority competence in deepsea mining 172
13.1.1 Bequeathing personality to an intergovernmental agency 172
13.1.2 The right of intergovernmental organizations to enter commercial joint arrangements 173
13.2 Changes in mining agreements 175
13.2.1 Demise of the traditional concession 175
13.2.2 Increased risk 176
13.2.3 Transformation of the mining contract 177
13.2.4 Lateralization of ownership and finance 178
13.2.5 Increased market intervention 179
13.3 The exploitation mandate of the authority 180
13.3.1 Applicable law 180
13.3.2 Title to resources 180
13.3.3 Transfer of title 180
13.3.4 Transport, processing and marketing 181
13.3.5 The exclusive or priority rights of the Authority 182
13.4 Exploitation rights of private and state entities 183
13.4.1 Access 183
13.4.2 The plan of work 183
13.4.3 Anti-monopoly provisions 185
13.4.4 The application procedure 188
14. Regulating recovery: the resource policy option 197
14.1 Implementors 197
14.2 Production controls 199
14.3 Participation in international commodity agreements 202
14.4 Priority rights and anti-monopoly restrictions 204
14.5 Adjustment assistance to land-based producers 206
15. Funding ocean mining: the financial option 209
15.1 Costs 209
15.2 The financial structuring of ocean mining 210
15.2.1 Risk 211
15.2.2 Project phases 211
15.2.3 Research phase 212
15.3 The ocean mining groups 215
15.4 Financing the public Enterprise 219
15.5 Taxation 221
15.6 An offering of ocean mining securities 223
15.6.1 A participating bond offering to state holders 224
15.6.2 A straight or participation bond to private investors 227
Conclusion. The legal route to the sea 231
Postscript 235
A. Calendar of major events in 1982 - UNCLOS 11 235
B.Major changes to the seabed mining regime incorporated at Session 11 237
C.Important amendment proposals by state delegations, not in-corporated in final Convention of the Law of the Sea at Ses-sion 11 239
Appendices 245
Appendix one. United Nations CP Working Paper No. 2 with Addendum 1 246
Appendix two. Draft convention on the Law of the Sea （frag-ments） 246
1. Part Ⅺ: The area 246
2. Annex Ⅲ: Basic conditions of prospecting, exploration, and exploitation 298
3. Annex Ⅳ: Statute of the enterprise 319
Bibliography 329