Minerals Report - International Seabed Authority

4. Utilisation of Data and Information by the Government
The data and information generated serve a number of useful
purposes.
First, the data and information are used to ascertain degree of
compliance by the licensee with the licence conditions. This ensures licensees
do not hold on to acreage without doing agreed work programme.
Secondly, the data and information are used to ascertain location of
the resource, extent of the resource, and further work required for proving up
the reserves for potential commercial exploitation.
Thirdly, the data and information may form the basis for additional
conditions to be imposed on the licensee at renewal of such licence.
Fourthly, the data and information may be relied on to invite
additional or new participant into the industry.
Finally, in the case of biogenetic resources associated with the
polymetallic massive sulphide deposits, the government may enter into
alliances with explorers and researchers to share in the benefits of potential
commercial utilisation of such resources. In fact PNG through the BIONET
already has an access agreement with the Commonwealth Scientific Industrial
Research Organisation (CSIRO). Similar arrangements are anticipated with
other international researchers and research entities.
In a nutshell, the data and information generated are important for
policy-making, planning, and compliance monitoring of activities associated
with polymetallic massive sulphides prospecting and exploration.
5. Compliance with The Data and Information Reporting
Requirements
Generally, tenement holders under the Mining Act 1992 comply with
the data and reporting requirements. However, there are instances where
licence holders either delay the reporting or have forgotten to report. In the
INTERNATIONAL SEABED AUTHORITY 367