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International Law and Corporate Actors in Deep Seabed Mining

International Law and Corporate Actors in Deep Seabed Mining

Joanna Dingwall

ISBN : 9780192898265
Publisher : Oxford University Press U.K.
Publication Year : 2021
Imprint : Oxford University Press
CD Included : No
Pages : 320
Binding : Paperback

List Price : £ 80.00

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The deep seabed beyond national jurisdiction (known as the Area) comprises almost three-quarters of the entire surface area of the oceans, and is home to an array of prized commodities including valuable metals and rare earth elements. In recent years, there has been a marked growth in deep seabed investment by private corporate actors, and an increasing impetus towards exploitation. This book addresses the unresolved legal challenges which this increasing corporate activity will raise over the coming years, including in relation to matters of common management, benefit-sharing, marine environmental protection, and investment protection.

Acting under the United Nations Convention on the Law of the Sea (UNCLOS), the International Seabed Authority is responsible for regulating the Area for the benefit of humanity and granting mining contracts. A product of its history, the UNCLOS deep seabed regime is an unlikely hybrid of capitalist and communist values, embracing the role of private actors while enshrining principles of resource distribution. As technological advances begin to outstrip legal developments, this book assesses the tension between corporate commercial activity in the Area and the achievement of the common heritage.

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