A Joint Venture Agreement For Seabed Mining

The Third Uni ted Nations Conference on the Lawof the Sea is preparing rules far the establishment of an international legal regime governing the exploration and exploitation of the resources of the international seabed. The Draft Convention on the Law of the Sea (Informal Text) of 27 August 1980 which has so far been the result of the negotiations during the preceding sessions of the Conference, provides for a so-called "parallel system" under which an international "Enterprise" as weIl as national private or state-owned companies will be granted access to the resources of the international seabed under the control of an International Seabed Authority. The Draft Convention also envisages the condusion of joint venture agreements between the international Enterprise and national companies or consortia, and encourages such cooperation through grant ing various incentives. Such joint ventures will probably play an important part in making the international Enterprise operative in the early years of its existence. At the Conference concerns have been expressed whether and when the Enterprise as a newcomer would be in a position to start seabed mining and to compete effectively with the national companies. The Draft Convention provides for a number of ways and means to enable the Enterprise to develop its technological and financial capabilities for deep sea mining as early as possible.

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A comprehensive study of transfer of technology for deep sea-bed mining under the 1982 Law of the Sea Convention and the controversies that have arisen about it. The book also discusses transfer of technology in international law in general and examines developments since the adoption of the 1982 Convention. These include national mining legislations of industrialized countries, extensive work by the Preparatory Commission for the establishment of the International Sea-Bed Authority and the International Tribunal for the Law of the Sea, and the new compromise Agreement relating to the deep sea-bed mining régime adopted by the General Assembly on 28 July, 1994. The book appears at the time when the Convention enters into force (16 November 1994). It will be of interest to academic lawyers and economists with an interest in the deep sea-bed mining issue, as well as to all those in the sea-bed mining industry, in public service (governmental and inter-governmental) and in UN organizations, who are likely to get involved in deep sea-bed mining and/or transfer of technology issues.