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Sharing is caring : prominent issues and considerations regarding the equitable distribution of deep sea mining proceeds

Klaas Willaert (UGent)
(2023) OCEAN YEARBOOK. 37(1). p.194-206
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Abstract
The status of the Area and its mineral resources as the common heritage of mankind constitutes the guiding principle of the international deep seabed regime. Although its implications and objectives are wide-ranging, one of the crucial components of this abstract concept consists of a general premise to carry out activities in the Area for the benefit of mankind as a whole. This ambition can be pursued through various mechanisms, and one of the most direct ways is to share the proceeds of deep sea mining among all states on an equitable basis. In accordance with the UN Convention on the Law of the Sea, the International Seabed Authority (ISA) is tasked with developing a suitable payment and distribution system, which takes the needs and interests of developing states into particular consideration. This article analyses the overarching rules and principles, discusses prominent issues and evaluates the available options, offering an insightful look at a complex process which will shape some of the most important aspects of the international deep seabed regime.
Keywords
law of the sea, the Area, common heritage of mankind, deep sea mining, equitable sharing

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Citation

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MLA
Willaert, Klaas. “Sharing Is Caring : Prominent Issues and Considerations Regarding the Equitable Distribution of Deep Sea Mining Proceeds.” OCEAN YEARBOOK, vol. 37, no. 1, 2023, pp. 194–206, doi:10.1163/22116001-03701010.
APA
Willaert, K. (2023). Sharing is caring : prominent issues and considerations regarding the equitable distribution of deep sea mining proceeds. OCEAN YEARBOOK, 37(1), 194–206. https://doi.org/10.1163/22116001-03701010
Chicago author-date
Willaert, Klaas. 2023. “Sharing Is Caring : Prominent Issues and Considerations Regarding the Equitable Distribution of Deep Sea Mining Proceeds.” OCEAN YEARBOOK 37 (1): 194–206. https://doi.org/10.1163/22116001-03701010.
Chicago author-date (all authors)
Willaert, Klaas. 2023. “Sharing Is Caring : Prominent Issues and Considerations Regarding the Equitable Distribution of Deep Sea Mining Proceeds.” OCEAN YEARBOOK 37 (1): 194–206. doi:10.1163/22116001-03701010.
Vancouver
1.
Willaert K. Sharing is caring : prominent issues and considerations regarding the equitable distribution of deep sea mining proceeds. OCEAN YEARBOOK. 2023;37(1):194–206.
IEEE
[1]
K. Willaert, “Sharing is caring : prominent issues and considerations regarding the equitable distribution of deep sea mining proceeds,” OCEAN YEARBOOK, vol. 37, no. 1, pp. 194–206, 2023.
@article{01GSAH8VQNKJ3095SJRV08ZR8E,
  abstract     = {{The status of the Area and its mineral resources as the common heritage of mankind constitutes the guiding principle of the international deep seabed regime. Although its implications and objectives are wide-ranging, one of the crucial components of this abstract concept consists of a general premise to carry out activities in the Area for the benefit of mankind as a whole. This ambition can be pursued through various mechanisms, and one of the most direct ways is to share the proceeds of deep sea mining among all states on an equitable basis. In accordance with the UN Convention on the Law of the Sea, the International Seabed Authority (ISA) is tasked with developing a suitable payment and distribution system, which takes the needs and interests of developing states into particular consideration. This article analyses the overarching rules and principles, discusses prominent issues and evaluates the available options, offering an insightful look at a complex process which will shape some of the most important aspects of the international deep seabed regime.}},
  author       = {{Willaert, Klaas}},
  issn         = {{0191-8575}},
  journal      = {{OCEAN YEARBOOK}},
  keywords     = {{law of the sea,the Area,common heritage of mankind,deep sea mining,equitable sharing}},
  language     = {{eng}},
  number       = {{1}},
  pages        = {{194--206}},
  title        = {{Sharing is caring : prominent issues and considerations regarding the equitable distribution of deep sea mining proceeds}},
  url          = {{http://doi.org/10.1163/22116001-03701010}},
  volume       = {{37}},
  year         = {{2023}},
}

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