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Evidence supporting that view is already available: In 1978, scientists performing an experiment scooped polymetallic nodules from the CCZ and left a track in the sediments that was 1.
On 13 July 2000 the Assembly approved the Regulations on Prospecting and Exploration for Polymetallic Nodules in the Area (the so-called Mining Code).
While the authority has issued seven contracts for exploration for polymetallic nodules, it has not had experience with exploitation, nor has it gained experience in overseeing the exploration or exploitation of other minerals, notably cobalt crusts and polymetallic sulfides.
They went to One Birdcage Walk to promote their wares to UK Seabed Resources, a recently established firm that has received a licence from the International Seabed Authority to harvest mineral-rich polymetallic nodules from the floor of the Pacific Ocean.
8) Nauru sought to participate in activities in the Area through the sponsorship of Nauru Ocean Resources Incorporated ('NORI') to explore for polymetallic nodules across an area of 74 830 squire kilometres in the Clarion-Clipperton Zone in the Pacific Ocean.
As a result of exploration conducted in the 1980s, the CCZ is known to host significant deposits of polymetallic nodules, rich in copper, nickel, manganese and cobalt, lying on the seafloor in water depths starting at 4,500 m.
With this in mind, it is also important and useful that United Nations Regulations on Prospecting and Exploration for Polymetallic Nodules were agreed in the year 2000, covering the mining of the best known type of these mineral deposits.
His concern for the equitable sharing of the benefits derivable from the exploitation of mineral resources, including polymetallic nodules, found on and under the deep sea bed and ocean floor (referred to the 1982 Law of the Sea Convention as "the area") led to the provision in Article 136 of that agreement that "The Area and its resources are the common heritage of mankind.
Polymetallic nodules in the Central Indian Ocean Basin in 1987.
Once a new law regulating underwater exploration is approved, the prospecting possibilities will be worth billions of dollars in polymetallic nodules lying on the international seabed.
The governing project principle is: industrial viability within the context of a realistic and technical, economic and environmentally balanced business case for the complete Polymetallic Nodules value chain of mining, processing and valorisation.