Ocean minerals under the earth’s sea bed are becoming increasingly valuable with soaring prices in the market. The utilization of the ocean minerals is needed to build a new sustainable resources of minerals for the good of mankind. Deep sea mining (DSM) researches and technology seems to be fast evolving. The fact of the visibility under certain circumstances of DSM practices is confirmed by many countries, including Nigeria, giving the consideration to environmental, financial, and cultural issues. DSM will benefit both developed and developing countries. The current regulation allows contractors to give equal share aimed for developing countries that are lack of infrastructure and unable to access the resources.. Seeing the benefit and …show more content…
Our understanding upon the seabed is still low. Some impacts of DSM have been aired both in economy and environment. Economically, DSM will impact international terrestrial market and developing countries. The amount of mineral production from land mining and DSM must be set so that the price remains good and stable. The Other impact is DSM economic benefit for developing countries. The current “equal share” regulation makes developing countries depend too much to developed countries’ provisions that may cause problem, inequality, and trust issue among countries. The next consideration is the environment effects. The impacts of underwater mining have not yet fully understood. Even so, according to the experts, the impacts that may occur are seabed habitat and ecosystem degradation which led to species extinctions, suspended sediment plumes, and toxic that …show more content…
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Topic B:
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