CITV News 13/5/14: DEEP SEA MINING WORKSHOP - According to Hannah Lily of the Deep Sea Mineral Project, our country is one of the most advanced as we were the first in the world to have a law for deep sea mineral activity, its called the Seabed Minerals Act 2009. The implementation of this began in March 2013. - We also have a Sovereign Wealth Fund that will restrict and protect the use of all our deep sea minerals revenue. - There are so many things we have to make sure of in our policies and legislation says Lily e.g. we have to ensure we get a good financial return; we have to have a world class environmental management regime; any steps must be taken with a precautionary approach checking the impact and trying to mitigate this; there have to be sanctions and penalties to keep people honest; we have to have a licensing regime so companies know who to apply to, what info to provide, and then there are steps with how to deal with requests, set up consultation events; specifies what they can do during the exploratory phase (looking); and when they move to the mining phase then things like health and safety at sea, environment protection become important; as well as, allocating marine space that cant be touched like the Marine Park. - The 3 companies granted exploratory licences in the Pacific are Nautilus Minerals (in PNG), Neptune Minerals, KIOST (Korean company).
Posted on: Wed, 14 May 2014 08:24:22 +0000
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