ISA, CIIC Sign Polymetallic Nodules Contract
- Business & Finance
The International Seabed Authority (ISA) and the Cook Islands Investment Corporation (CIIC) have signed a 15-year contract for exploration for polymetallic nodules in the Clarion-Clipperton Fracture Zone.
The contract was signed in Kingston, Jamaica, on Friday, 15 July 2016, by the Secretary-General of the International Seabed Authority, Nii Allotey Odunton, and Michael Henry, the Director of CIIC.
The application for the exploration contract was approved by the council of the International Seabed Authority on 21 July 2014.
The area allocated to the contractor covers a total surface of 75,000 square kilometers in the Clarion-Clipperton Fracture Zone (CCZ) and comprises three non-continuous parts.
This is the 16th contract for exploration for polymetallic nodules in the CCZ.