Minerals Report - International Seabed Authority

mineral policy guidelines, which have been called the Mandang Guidelines
[Refer Annex I]
Although the Mandang Guidelines have been developed in the Pacific
for Pacific issues, they might be applicable to developing marine mineral
policy elsewhere in the world. The Guidelines cover all aspects of offshore
mineral development namely the legal and licensing regime, fiscal regime,
environmental guidelines, marine scientific research requirements,
stakeholder issues, benefit distribution mechanism and dispute settlement.
Since the offshore mineral policy workshop in Mandang, SOPAC has
started to work with the Fiji Mineral Resources Department toward
development of an Offshore Mineral Policy. A Green paper has been drafted
for the Fiji Government and it is currently undergoing extensive national,
regional and international 9 stakeholder review. It is the intention of SOPAC to
use the Fiji Offshore Mineral Policy as the blue print when working with other
member country Governments who have offshore mineral potential, to
develop their own mineral policy.
It is widely acknowledged that the scale of investment and technology
required for offshore mineral development is beyond the inherent capacity of
the small island states of the Pacific. Consequently, SOPAC intends to assist
PICs to develop a sound policy and regulatory framework to ensure that
exploration and exploitation is conducted in such manner that maximises the
economic benefits, whilst at the same time ensuring the protection and
preservation of the marine environment.
5. Long-Term Potential of Deep-Sea Minerals
Although the immediate potential for deep-sea mineral development
in the SOPAC region, is not imminent, the long-term potential of deep-sea
minerals remains promising and cannot easily be dismissed. Since its
inception in 1972, SOPAC has been highly effective in promoting,
encouraging and supporting [in-kind], MSR in the region.
9 Fiji’s Offshore Mineral Policy Green paper has been circulated to a panel of
international stakeholders comprising policy makers, lawyers, academics,
oceanographers, economists and major mining companies, for comment and review.
INTERNATIONAL SEABED AUTHORITY 901