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Minerals Report - International Seabed Authority

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increase economic feasibility<br />

not yet economic economic now<br />

increase certainty of existence<br />

discovered not yet discovered<br />

already<br />

used up<br />

RESERVES<br />

RESOURCES<br />

Reproduced from David A Rothery, Geology, Chicago: NTC Publishing Group; 1997, p139<br />

Figure 1: Relationship between physical resources and reserves<br />

3. Requirements under the draft offshore minerals policy<br />

As the offshore minerals policy has not been approved and given<br />

legislative force yet, any data and information reporting requirements of<br />

offshore prospectors and explorers of polymetallic massive sulphides under<br />

the draft policy are not binding. Nonetheless, it is important to point out some<br />

of these requirements under the proposed policy per Table 3 below.<br />

INTERNATIONAL SEABED AUTHORITY 365

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