A Study On The Draft Regulations On Mineral Resource Exploitation In The Area

The International Seabed Area is rich in mineral resources,including Cobalt-rich Ferromanganese Crusts and Polymetallic Nodules and Polymetallic Sulfides.With the progress of mining technology,the focus of International Seabed activities has entered a transitional period from exploration to commercial exploitation.After more than ten years of exploration for mineral resources in the International Seabed Area,countries have approached the exploration period stipulated by the United Nations convention on the law of the sea and entered the stage of substantial development.At present,the International Seabed Authority has only formulated three regulations regulating the exploration activities of mineral resources in the International Seabed Area,and lacks a regulation that provides normative guidance for the commercial exploitation of mineral resources in the International Seabed Area.In this context,the International Seabed Authority has begun the development of the "Code of Mining" as an important part of the "Code of Mining".The "Draft Regulations on Mineral Resource Exploitation in the Area" has been published,and seek the views of member States of the International Seabed Authority and relevant stakeholders..This paper studies the draft regulations from the following four parts.The first part is an overview of the "Draft Regulations on Mineral Resource Exploitation in the Area".The drafting background of the The "Draft Regulations on Mineral Resource Exploitation in the Area" is based on legal system and international practice.In the early 21st century,more and more countries joined in the exploration of deep seabed mineral resources.With the progress of mining technology,contractors are no longer confined to preliminary exploration activities in International Seabed Areas,and large-scale commercial mining activities are on the agenda.At present,there are only three regulations for mineral resources exploration.In order to regulate the exploitation of mineral resources in the International Seabed Area,it is necessary to formulate a specialized regulation for mineral resources exploitation.The second part is the comments of stakeholders on the "Draft Regulations on Mineral Resource Exploitation in the Area".Following the publication of the Draft Regulations by the International Seabed Authority,comments have been submitted by member States,contractors and trade associations of the International Seabed Authority.The opinions on the draft regulations put forward by different subjects from their respective interests mainly focus on the stability and operability of the regulations,environmental protection provisions,rights and obligations of contractors and financial provisions.The third part is the controversy of stakeholders on the "Draft Regulations on Mineral Resource Exploitation in the Area,,.The draft regulations have not clearly defined the payment mechanism and the benefit distribution mechanism.Only a preliminary framework concept has been made for the payment mechanism,and no mandatory provisions or provisions are imposed on the regional environmental management plan and the contractors reasonable care obligations.Therefore,stakeholders have different opinions on the draft regulations mainly on the payment model and the calculation lethod of payment,the regional environmental management plan and the reasonable consideration of obligations.The fourth part is China's response to the“Draft Regulations on Mineral Resource Exploitation in the Area".China is the contractor for resource exploration in the International Seabed Area,and it is the largest consumer in the "area".During this transition from exploration to exploitation,China should play a leading role in strengthening the right to speak in the exploitation in the "area" and actively respond to it.By actively participating in the fonnulation of the draft regulations and submitting comments and improving the domestic development legal system,we can better safeguard our interests in the exploitation of the resources in the "area" and ensure the security of resources.