Minerals Report - International Seabed Authority

Colorado, USA, and the International Energy Authority. He said that there is
very little chance that hydrocarbons will be found in the Area, but indicated
the potential for these resources within the extended continental shelves.
He said that the estimates of resources in his paper are broken down
by country. He said that this has been done for nodules, crusts, gas hydrates
and hydrocarbons. He described these estimates as based on the best-case
scenarios. He also said that the identified deposits will not be exploitable for
the next fifty years and would only be exploitable based on progress in
economic conditions and technology.
SUMMARY OF THE DISCUSSIONS
The discussions that followed Dr. Parson’s presentation focussed on
his vision of sulphides and phosphorites as potential resources on the
continental shelf, the deadline for coastal states’ submissions to the
Commission on the Continental Shelf, the sizes of exploration areas for
manganese-manganese cobalt crusts deposits, and why the potential for
aggregates on the extended continental shelf was not addressed in his
presentation.
The observation was made by a participant that in both his paper and
presentation, Dr. Parson did not appear to have that much confidence in the
exploitation of seafloor polymetallic sulphides in the near to medium term.
He was also asked which of the three mineral deposits, polymetallic nodules,
seafloor polymetallic sulphides or ferromanganese crusts deposits he thought
would come on stream first.
In response to the question on his confidence in the exploitation of
seafloor polymetallic sulphides, Dr. Parson said that his paper was written
before he heard two presentations at the workshop. He said that based on the
presentation of the extraction technique used by De Beers Marine for
diamonds and following discussions with Dr. Peter Herzig on the
applicability of these techniques to seafloor polymetallic sulphides, he has
INTERNATIONAL SEABED AUTHORITY 759