Regulations on Prospecting and Exploration of the Polymetallic Nodules in the International Seabed Area

Abstract

The article addresses one of the key documents regarding the activity of the states on prospecting, exploration and exploitation of the mineral resources of the International seabed area – the Regulations on prospecting, exploration and exploitation of the polymetallic nodules in the International seabed area. The mentioned Regulations were the first to develop the provisions of the United Nations Convention on the Law of the Sea of 1982, set forth a legal framework for the states’ activity in the area, and also serve as a basis for adoption of the similar regulations on ferromanganese nodules and cobalt-rich crusts by the international seabed authority in future. For the purposes of clarity and readers’ convenience the narration of the article resembles the structure of the regulations with the concurrent analysis of the most important issues being given at the same time.