The Management of Pacific Marine Resources: Present Problems and Future Trends by John P Craven

Author:John P Craven [Craven, John P]
Language: eng
Format: epub
Tags: Political Science, General
ISBN: 9781000303209
Google: dO6aDwAAQBAJ
Goodreads: 46180409
Publisher: Routledge
Published: 2019-05-29T11:02:43+00:00

Scenario #6: All or Several of the Above

The strategic interests of States and the activities of their companies vary sufficiently that none of the above scenarios may describe what all of the States or consortia will do. For example, Ocean Management, Inc. is partly owned by INCO [Ltd.] [International Nickel Corporation] of Canada, which has a substantial portion of the world's nickel supply. The Kennecott Copper Group is led by Kennecott, which has a substantial portion of the U.S. copper market. Both of these consortia are largely inactive at present. Since they have significant supplies of land-based ores, they can afford to "give up" for now. They are in a defensive position — if someone else moves in to mine, they can reactivate to defend their market positions.

On the other hand, Ocean Mining Associates (OMA) may move ahead to secure manganese for U.S. Steel. Ocean Minerals Company (OMCO) may also move ahead. OMCO is partly owned by Standard Oil of Indiana, whose subsidiary, Amoco Minerals Company, has embarked upon a broad program of minerals acquisition. OMA and OMCO may push for a reciprocating States regime pending an UNCLOS III treaty. If the U.S. declines to become a party to the treaty, these companies may seek compensation provisions to proceed under unilateral legislation or a reciprocating States regime composed of States which are not parties to the treaty.

The existing consortia, of course, may split up. Preussag, for example, is a member of the OMI [Ocean Management, Inc.] group, but has ventured on its own to mine metalliferous sediments in the Red Sea. Deep Ocean Mining Company (DOMCO) of Japan, also an OMI member, may wait for a treaty. The Japanese government announced last year that it was launching a seven year research program to survey sites, a program which is consistent with the timetable for a treaty. Passage of unilateral legislation which would be superseded by a treaty would allow Japanese companies to participate in a reciprocating States regime, which could recognize and establish DOMCO claims while waiting for treaty ratification.11

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