New Zealand: Cook Islands Gets Multi-Million Dollar Offer for Seabed Mining Licence

Canadian mining company, Endeavour, offers 45 million US dollars to the Cook Islands authorities to get the permit for exploration of the country’s seabed to determine its mining prospective.

The deep-sea mining minister, Tom Marsters, has informed parliament this week that the offer is on the table.

According to the minister, the company is guaranteeing an advance payment of 12 million dollars with the balance to include the company’s research expenses.

The Cook Islands Government is totally committed to the development of the rich seabed mineral resources for the benefit of the present and future generations of its citizens.

[mappress]
Subsea World News Staff , February 23, 2012