The Triton

News

Vanuatu wants drilling policy

Posted on by in
ADVERTISEMENT

The Republic of Vanuatu has begun a national consultation program on a draft Deep Sea Minerals Policy.

Past studies in Vanuatu’s waters have revealed the presence of massive seafloor sulfide deposits within its exclusive economic zone, which could contain significant quantities of copper, gold, zinc, silver and other commercially viable minerals.

The draft policy sets out Vanuatu’s vision and strategic goals in relation to its deep sea minerals, and will form the basis for future drafting of laws in line with the policy.

While Papua New Guinea made news for being the first country to issue a licence for deep-sea mining, more and more Pacific Islands countries are getting approached from companies interested in exploration and exploitation of deep-sea minerals. The questions that arise are: What are the risks? What are the benefits? What do Pacific Islanders need to know to make the right decisions here?

Over 300 exploration licences have been granted in Pacific Islands countries like Solomon Islands, Vanuatu and Tonga.

Related Posts...
The U.S. Army Corps of Engineers has awarded an $8.55 Read more...
The Florida Department of Transportation issued a feasibility study for Read more...
A charter cruise aboard a Miami yacht was abruptly ended Read more...
A 20m yacht burned today, June 17, near Porto Venere, Read more...
Ice loss in Antarctica has tripled in a decade, pouring Read more...

Share This Post

Editor’s Picks

Secure at Sea: The growing pains of cyber-security

Secure at Sea: The growing pains of cyber-security

Secure @ Sea: by Corey Ranslem When I heard about it, I was amazed but not surprised. The high-roller database at a major casino …

Crew Compass: Make time for yourself

Crew Compass: Make time for yourself

Crew Compass: by Lauren Loudon One thing that I’ve found difficult on boats over the years is making time for myself and doing things …

Latest news in the brokerage fleet: Bandido sells; Saint Nicholas, Rock.It listed

Latest news in the brokerage fleet: Bandido sells; Saint Nicholas, Rock.It listed

Yachts sold M/Y Bandido, a 137-foot (41.8m) Westport launched in 1989, sold in an in-house deal by Ocean Independence broker Chris …

Derecktor, Haack bid for Fort Pierce yacht facility

Derecktor, Haack bid for Fort Pierce yacht facility

By Dorie Cox Two bids to develop a megayacht repair facility in Fort Pierce, Florida, are under evaluation. Derecktor Holdings Inc. and …