International Investment Protection in Deep Seabed Mining Beyond National Jurisdiction

Abstract

Abstract The deep seabed beyond national jurisdiction comprises almost three-quarters of the entire surface area of our oceans. It boasts an array of mineral resources, including valuable metals and rare earth elements. Acting under the United Nations Convention on the Law of the Sea, the International Seabed Authority is responsible for regulating this area and granting mining contracts to allow investors to explore for and exploit deep seabed minerals. As yet, deep seabed mining activities have been confined to the exploratory stage. However, recently, there has been a marked growth in deep seabed investment by private corporate actors. As technology advances and commercial appetite increases, extraction of deep seabed minerals may soon commence. In this context, this article seeks to address crucial legal issues facing pioneers of deep seabed mining. What is the extent of investment protection within the existing regime? And are there dispute resolution options to enforce such protection?