Minerals Report - International Seabed Authority

also stated, is similar to that of manganese nodules with the exception that the
cobalt content is 3-5 times that of manganese nodules. With regard to
polymetallic massive sulphides deposits, Mr. Simpson stated that such
deposits were first discovered in 1984 in the Southern Lau Basin in water
depths of around 1800 m. Further discoveries were made in 1986 in the
Manus Basin, Woodlark Basin and Northern Lau Basin. In 1988, the North Fiji
Basin deposits were discovered. Mr. Simpson further stated that preliminary
results of research cruises conducted in the exclusive economic zone of
Vanuatu and the Solomon Islands indicate that there is hydrothermal activity
in these areas. He noted that polymetallic massive sulphides that are rich in
copper, zinc, lead, silver and gold are being heralded as “bonanza resources”
especially in view of their high gold content. Mr. Simpson pointed out that
although large amounts of polymetallic sulphide data are now available, no
drilling of any of these deposits has yet been undertaken to estimate the
volumes or ore contained in them. Additionally, he said, little is known about
the costs to extract and process the ore.
He stated that the SOPAC database includes geochemistry, structural
characteristics, genetic environment, mineralization characteristics and
geographic location of manganese nodules and cobalt-rich crusts samples. It
also has data on geology, geochemistry, morphology and environmental
parameters, geographic position and ore deposit information in respect of
polymetallic massive sulphides. Mr. Simpson informed participants that
environmental management components are integrated in the research
programmes of the organizations in the SOPAC region. Mr. Simpson
informed participants that the offshore mineral policy for the SOPAC
members is contained in the Madang guidelines which covers all aspects of
offshore mining development; namely, the legal and licensing regime, the
fiscal regime, the environmental guidelines, the marine scientific research
requirements, stakeholder issues, benefit distribution mechanism and dispute
settlement. SOPAC, he concluded, provides advice and assistance to Pacific
island countries to build and implement effective systems and procedures for
deep-sea mineral exploration and development.
INTERNATIONAL SEABED AUTHORITY 66