Minerals Report - International Seabed Authority

these areas cover something like 25 million square kilometres. He described
this total area as a very small percentage of the actual ocean but said that
many parts of the extended continental shelf are closer to some areas of
potential resources such as hydrocarbons. Using his illustration, Dr. Parson
said that there are only about 35 to 40 countries that have potential claims of
extended continental shelves.
With a map, Dr. Parson showed participants the mid-ocean ridge
system, pointing out that since they were devoid of any sediment, they would
not contain resources that are normally associated with sediment basins such
as hydrocarbons and phosphorites. He showed participants the location of
the abyssal plains, pointing out that these were the areas with the potential for
accumulating nodules and manganese crusts. He also showed participants
the locations of the continental margins, indicating that these were the areas
with immediate to near term market resource potential.
Recalling an earlier presentation and discussion about resources and
reserves, Dr. Parson said that a resource is something that evolves, or can
evolve, into a reserve in response to, inter alia, the amount of progress or
advances in exploration technology, market forces, and economic forces
around the deposit itself. He also recalled discussions on indicated and
inferred resources, and said that when an inferred resource is realised, it
becomes a reserve. He noted however that an inferred resource can be further
subdivided Para-marginal or sub-marginal resources. Dr. Parson said that a
reserve is essentially something that has a present day marketing and
technological feasibility. He said that Para- marginal and sub-marginal
resources are deposits that might cost as much as two or three times the
present day marketable value of the resource. While stating that these
resources are fairly useless in relation to current market conditions, Dr. Parson
said that they may be viewed in a qualitative way, in terms of whether they
will come on line in 5, 10 or 50 years in terms of exploitation technology.
Dr. Parson undertook a review of marine mineral deposits to evaluate
whether they is a potential for them to occur on the extended continental shelf
and hopefully, in the areas of the study as well. Starting with placer deposits,
Dr. Parson noted that while the workshop had heard presentations on placer
deposits of diamonds offshore south-west Africa, it was to be kept in mind
INTERNATIONAL SEABED AUTHORITY 754