$TMC the metals (TMC.US)$ In 2021 the Pacific island nation ...
In 2021 the Pacific island nation of Nauru — in partnership with mining company Nauru Ocean Resources Inc., a wholly-owned subsidiary of Canada-based The Metals Company — applied to the ISA to exploit minerals in a specified deep sea area.
That triggered a clause of the U.N. treaty that requires the ISA to complete regulations governing deep sea exploitation by July 2023. If no regulations are finalized, Nauru can submit an application to conduct the mining without any governing regulations.
Other countries and private companies can start applying for provisional licenses if the U.N. body fails to approve a set of rules and regulations by July 9. Experts say it is unlikey it will since the process will likely take several years.
That triggered a clause of the U.N. treaty that requires the ISA to complete regulations governing deep sea exploitation by July 2023. If no regulations are finalized, Nauru can submit an application to conduct the mining without any governing regulations.
Other countries and private companies can start applying for provisional licenses if the U.N. body fails to approve a set of rules and regulations by July 9. Experts say it is unlikey it will since the process will likely take several years.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Wu Bai : wow
license?????