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Commonwealth to assist Cook Islands to harness seabed resources

12 May 2008

The development of seabed mineral resources has been a subject of international commercial and scientific interest for many years

The Commonwealth Secretariat has approved a new project under which legal and technical assistance will be provided to Cook Islands concerning the development and management of seabed mineral resources.

A team of legal and economic advisers from the Economic and Legal Section of the Secretariat’s Special Advisory Services Division (SASD) has been established to deliver the assistance, supplemented where necessary by technical consultants with specialist knowledge of issues relating to deep seabed mineral resources.

Joshua Brien, a Legal Adviser in SASD, who is also managing the project, said that “the purpose of this important project is to assist the Government of the Cook Islands to establish modern and effective regulatory arrangements to govern the development and management of potentially lucrative deep seabed mineral resources. This is a priority issue for the government, as it seeks to expand, diversify and enhance the nation’s economy. We will seek to work with the government in this process through the provision of targeted legal, economic and technical advice on a range of issues including on the allocation of offshore mining acreage, mining methods and techniques, environmental protection and fiscal management.”

The development of seabed mineral resources has been a subject of international commercial and scientific interest for many years, particularly with regard to polymetallic nodules. These are deposits of nodules found on the deep seabed floor, which often contain economically attractive quantities of valuable base metals such as manganese, nickel, iron, cobalt, copper and occasionally titanium. Until very recently, high capital costs and technical challenges associated with deep seabed mining had rendered such activity uneconomic. However, recent economic and technological developments have rekindled interest in deep seabed minerals and their commercialisation.

The Secretariat provides legal, economic and technical advice and assistance to member countries on natural resources and maritime boundaries issues, through the Economic and Legal Section, with the emphasis on assisting member states to attract investment in natural resources development through adherence to accepted rules and principles and the implementation of international best practices. The Economic and Legal Section is presently providing such assistance on natural resources and the delimitation of maritime boundaries to a range of member countries, including those in the Pacific region.