ABSTRACT
Manganese nodules are known to occur over vast areas of the Pacific and Indian Oceans. Because of their anticipated exploitation, UN Conference on the Law of the Sea was initiated. The nodules contain nickel, copper, and cobalt, which is their main economic attraction. Several international consortia were formed to survey the deposits, to develop the techniques for their extraction and processing, and to assess their economic viability. The technology for mining included line and bucket dredging, hydraulic and pneumatic lift, bottom-crawler sweeper collector devices, and remotely controlled shuttle miners. All these activities would require a large surface vessel and an associated ship to undertake initial processing and to transport the ore to the port (Chapter 10).
Various studies have tried to evaluate the economics of nodule mining and the consensus opinion is that with prices at their present level, it is not economical. However, there are other considerations such as strategic value to the mining country. Japan has few resources of these metals on land and is actively pursuing pilot mining projects. India has claimed nodule fields in the Indian Ocean and is working toward a pilot project (Chapter 12).
In spite of these uncertainties, Japan, China, and India are proceeding with research on deep ocean mining for manganese nodules and its associated metals. Under UNCLOS, states or consortia that have invested a certain level of funding ($30 million) in the surveying and development of ocean mining qualify for pioneer investor protection (PIP). This gives them priority when the International Seabed Authority issues licenses for sites. So far, France, India, Japan, Russia, and China have applied for registration as a pioneer investor.
