The International Seabed Authority has received two new applications for seabed exploration licences.
The two new applications have been filed in respect of areas located in the West Pacific Ocean and are for exploration for cobalt-rich ferromanganese crusts.
The application for approval of a plan of work for exploration for cobalt-rich ferromanganese crusts in the Area from China Ocean Mineral Resources Research and Development Association (COMRA) was received 27 July 2012.
The application for approval of a plan of work for exploration for cobalt-rich ferromanganese crusts in the Area from Japan Oil, Gas and Metals National Corporation (JOGMEC) was received 3 August 2012.
Both applicants have elected to offer an equity interest in a joint venture arrangement pursuant to regulation 19 of the Regulations.
In accordance with the Regulations, the members of the Legal and Technical Commission will be notified of the above applications and consideration of these applications will be placed on the agenda of the Commission at its next meeting in 2013.
[mappress]
Press Release, September 06, 2012