Mining international seabed nodules

The Cook Islands and G-TEC Sea Mineral Resources (GSR), a private company of Belgium, have applied for an exploratory licence in the mineral-rich Clarion-Clipperton Zone (CCZ) nodule field in international waters. The International Seabed Authority (ISA) requires developed nations that apply to explore the CCZ to partner with a developing nation such as the Cook Islands, with the developed nation shouldering the costs of the application and subsequent exploration but sharing any revenue received. GSR approached the Cook Islands government recently, after the company signed a 15-year contract in January last year for prospecting and exploration of nodules in the area.

The Cook Islands and G-TEC Sea Mineral Resources (GSR), a private company of Belgium, have applied for an exploratory licence in the mineral-rich Clarion-Clipperton Zone (CCZ) nodule field in international waters. The International Seabed Authority (ISA) requires developed nations that apply to explore the CCZ to partner with a developing nation such as the Cook Islands, with the developed nation shouldering the costs of the application and subsequent exploration but sharing any revenue received. GSR approached the Cook Islands government recently, after the company signed a 15-year contract in January last year for prospecting and exploration of nodules in the area.