Minerals Report - International Seabed Authority

A new agreement between Japan and SOPAC, which commenced in
April 2000, covers marine research surveys to be carried out over a three-year
period. Each MSR cruise is expected to consist of about five weeks of shiptime
and will survey offshore waters of the Cook Islands, Fiji and the Marshall
Islands. These areas have been selected based on the encouraging results of
previous work conducted during the 15-year programme between SOPAC
and Japan, and resulting information from research campaigns of other
researching States. The research cruises will focus on detailed ore prospecting
in possible mining sites and conducting baseline surveys for environmental
purposes. The anticipated budget for this phase of the SOPAC/Japan
programme has been estimated to be in the vicinity USD 20 millions, which is
to be spent over three years.
4. Offshore Mineral Policy
An Offshore Mineral Policy [OMP] is important for a coastal state with
offshore mineral resources in that it sets the legislative baseline and
framework upon which the Government can sustainably develop and manage
the resources. Policy also informs company’s interested in mineral
development of the rules, regulations and systems that it faces in host
country.
An aspect of SOPAC’s work programme is to assist some of its
member countries to develop offshore mineral policies. The catalyst to
develop national offshore mineral policy and legislation for Pacific Island
Countries was precipitated by Nautilus Minerals Ltd.’s application to Papua
New Guinea [PNG] for two offshore exploration licences in the Bismarck Sea.
The absence of relevant policy and legislative frameworks for offshore
mineral exploration, at the time of the application being made, prompted the
PNG Government to formulate an Offshore Policy Green paper ex post.
In February 1999, at the request of the Government of PNG an
international offshore mineral policy workshop was organised by SOPAC,
and held in Mandang, PNG. International experts, representing all facets of
offshore mineral development attended the workshop and actively
participated to develop the guiding principles for policy formulation. SOPAC
has developed these recommendations into a set of international offshore
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