Marine mineral resources: Effect of the low of the sea convention

The degree of security of investment afforded by the applicable legal regime is one of the most important factors affecting minerals projects. This article outlines the deep-sea mining regime contained in the recently adopted Law of the Sea Convention. A history of subsea mining, including petroleum mining, is presented and the events leading to adoption of the Convention are described. Those parts of the Convention relating to deep-sea mining are analysed, and the International Sea-Bed Authority is examined. It is concluded that deep-sea mining on a commercial scale is unlikely before the end of the decade.