(This book is Part I in the Regulatory Dilemma Series which tries to address the question of 'How much Regulation?')
This part I of the Regulatory Dilemma Series deals specifically with the issue of Deep-Sea Mining. Mining deep sea minerals can serve a lot of growing energy needs, especially renewable energy demands to fuel electrical vehicles. But they are an environmental hazard to the marine ecosystem. UNCLOS under Part XI on Deep Sea Mining and other International Law principles emphasize on Equitable Sharing and Technology Transfer which is not amenable to a lot of companies and countries like USA.
Interestingly, no exploration or mining contract for Deep Sea Mining can be given to a private company without being sponsored by a Sponsoring State guaranteeing compliance with the UNCLOS obligations and corresponding liabilities and other requirements. This raises an interesting question in relation to US Companies as US is currently not a signatory to Part XI of UNCLOS.
This part will look at the recent developments at the International Level and internally within various nation states and try to figure a way out of this Regulatory Dilemma related to Deep Sea Mining.