Metalliferous Sediments in the Atlantis II Deep – Assessing the Geological and Economic Resource Potential and Legal Constraints
To date, mineral resources are only mined on land but projected increases in demand have brought the exploration and exploitation of marine mineral resources back into focus. The Atlantis II Deep, located in the central Red Sea between Saudi Arabia and Sudan, is one of the largest marine sulfide deposits known, with high concentrations of metals such as zinc, copper, silver and gold. However, little is known about the economic potential of marine minerals as well as the legal constraints. Our geological assessment shows that the deep is similar in grades and scale to large land-based deposits. Its economic potential is far from negligible. The present value of possible gross revenues ranges from 3.11 to 8.21 billion US-$, depending on the minerals considered. From a legal perspective, a general duty to cooperate in the exploration and exploitation of non-living resources located in disputed maritime areas is identified in both customary international law and in the UNCLOS. It is submitted that a joint development agreement is one means of ensuring compliance with this duty in general and in the case of the Atlantis II Deep in particular
|Date of creation:||Mar 2011|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49 431 8814-1
Fax: +49 431 85853
Web page: http://www.ifw-kiel.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Halfar, Jochen & Fujita, Rodney M., 2002. "Precautionary management of deep-sea mining," Marine Policy, Elsevier, vol. 26(2), pages 103-106, March.
- Stein, Robert & Walter, Ingo, 1977. "Seabed resources and international law," Resources Policy, Elsevier, vol. 3(4), pages 237-242, December.
- Clark, Joel P. & Neutra, Marian R., 1983. "Mining manganese nodules : Potential economic and environmental effects ag]," Resources Policy, Elsevier, vol. 9(2), pages 99-109, June.
- Cameron, H. & Georghiou, L. & Perry, J. G. & Wiley, P., 1981. "The economic feasibility of deep-sea mining," Engineering Costs and Production Economics, Elsevier, vol. 5(3-4), pages 279-287.
- Hoagland, Porter & Beaulieu, Stace & Tivey, Maurice A. & Eggert, Roderick G. & German, Christopher & Glowka, Lyle & Lin, Jian, 2010. "Deep-sea mining of seafloor massive sulfides," Marine Policy, Elsevier, vol. 34(3), pages 728-732, May.
- Kirthisingha, P. N., 1983. "International policies on the economic resources of the deep-seabed," Resources Policy, Elsevier, vol. 9(2), pages 77-98, June.
When requesting a correction, please mention this item's handle: RePEc:kie:kieliw:1688. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dieter Stribny)
If references are entirely missing, you can add them using this form.