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The Economics of Deep-Sea Mining (Paperback, Softcover reprint of the original 1st ed. 1985)
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The Economics of Deep-Sea Mining (Paperback, Softcover reprint of the original 1st ed. 1985)
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Manganese nodules lying on the ocean floor beyond national
jurisdiction and containing such strategic minerals as cobalt,
copper, manganese and nickel are currently considered to constitute
the highest-valued deep ocean mineral resource and regarded by many
as the "common heritage of mankind". Not surprisingly, the
exploitation of minerals from the sea- bed was one of the most
controversial issues discussed at the Third United Nations
Conference on the Law of the Sea from 1973 to 1982, which led to
the adoption of a new Convention on the Law of the Sea in Jamaica
in December of 1982. However, the still ongoing international
debate on the Convention I s regime to govern deep-sea mining
reveals that the central economic problems involved are far from
being defi- nitely settled. In view of the importance of this
issue, the Kiel Institute of World Economics launched in 1980 a
major research project on allocational and distributional aspects
of the use of ocean resources. A comprehensive analysis and
evaluation of the new Law of the Sea Convention has al- ready been
published (see Wilfried Prewo et al. , Die Neuordnung der Meere -
Eine okonomische Kritik des neuen Seerechts. Kieler Studien No.
173. Tlibingen: J. C. B. Mohr, 1982).
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