U.S. has significant economic interests in emerging deep seabed mining industry

Our economy was compromised when the extension of our continental shelf limit was postponed and the legal uncertainties from non - member states precluded the rich use of the continental margin, especially in the Arctic. According to a survey by the Institute of Sociology at the University of Alaska, resource development in the waters off Chukchi and Beaufort off Alaska generated approximately 54,700 jobs nationwide, with a gross salary of $ 145.3 billion and federal funds of $ 193 billion It will produce. , State and local income. Economic research

As the ratification of the treaty is delayed, one of the four wealthy landmines in the world, one of the four marine landmines, is lost and you can not stick to the United States right away, you lose the other three There is a possibility. Manganese, copper, cobalt, nickel and other minerals are in danger. The economy is revitalized with a single undersea mining operation, the total investment amount reaches 1.5 billion dollars, and employment creation is promoted. In addition, because the United States is forced to import these rather than producing these strategic minerals, we lose millions of dollars in consumer losses and abandon the tax and billions of dollar trade balance Let's see.

Submarine cable carries over 95% of Internet and phone communication. These important cables send trillions of financial data and transactions every day. The Convention establishes the legal basis for the protection and management of these cables. AT & T spokesperson at the National Press Club event warned that important US communication links would be at risk if not participating in the party.

These examples show that the current concern about the deep ocean floor is very different from the deep sea mining problem that existed in the 1970s. Previously, discussions on deep-sea mining included the right to mining and the economic impact of any mining15. However, mining has been constrained by technical and economic factors. Therefore, the background of these arguments is quite different from the background of the current discussion. The current global concern on environmental protection issues and national security shows that countries are adopting a more comprehensive approach to the deep ocean floor. This is because activities under the ocean floor can cause environmental destruction at the moment, and many countries still deal with the terrorist effects on a large scale.

For decades, engineers have been searching for ways to extract metals from the ocean floor. The deposition of manganese, cobalt and methane hydrate has been of particular interest. However, there is no commercial deep sea mining project currently. This is mainly because cost is much higher than land mining. This cost is expected to be a major obstacle for deep sea mining in the next few years. Historically, the lack of clear ownership is also a barrier to development. The high seas and submarine beneath them are considered part of the world community for a long time and are beyond the jurisdiction of the country. Therefore, it is unclear how states and companies establish legitimate ownership of minerals recovered from the ocean floor. If there is no assurance that property rights are widely recognized, investors will not bear a large amount of funds necessary for commercial development.