"The world is now watching us and the Council will have to deliver, particularly with regard to the draft exploitation regulations", Myklebust said in a clear message to the Council when he took office in March.
The most important issue for the Authority now is the development of rules for exploitation of minerals in the international seabed area. The Norwegian delegation clearly states that the regulations should contribute significantly to the implementation of the Sustainable Development Goals.
The new regulations will make it possible for States and companies to get contracts for exploitation of deep sea minerals. "Exploration of such minerals have been ongoing for some time and in a few years contractors might be ready to apply for production licenses. The International Community must prepare for this by adopting the new rules as soon as possible." Mr. Myklebust commented.
The International Seabed Authority is established under the United Nations Convention for the Law of the Sea to manage mineral resources in international seabed areas. Its headquarter is in Kingston, Jamaica.
When not presiding over the Council of the International Seabed Authority, Olav Myklebust is Norway’s ambassador to Poland.