Deep Sea Gold Mining Came to Life by The UN

deep sea mining

Reports from British Broadcasting Corporation, deep sea gold mining came to life, the United Nations has published its first plan for sea mining.

The UN body managing the new industry, said companies could apply for mining licenses, after a technical study by the International Seabed Authority, the licenses will be given as soon as 2016.

Up till now, the ISA has given out 17 exploration permits and an additional seven are in the works. A spokesman told the BBC there have been an extraordinary rush in interest from together the private and state-owned companies.

ISA also added that deep sea mining is on the beginning of a new era. It is in the procedure of determining how to handle the licensing for actual mining along with how to share the profits, a percentage of which are to go to developing countries.

Earlier testing by companies has displayed large numbers of small rocks on the deep ocean’s floor that are rich in gold, copper, nickel, cobalt and rare earths.

An evaluation of the Clarion-Clipperton zone in the Pacific Ocean advises that more than 27 billion tons of rocks could be on its floor, including 290 million tons of copper and 340 million tons of nickel.