Michael Lodge, general counsel for the International Seabed Authority, told me that the authority's aim was to encourage a new mining industry to exploit seabed minerals but within strict environmental controls.

BBC: UK Seabed Resources joins deep-ocean mineral-mining rush

If ratified by Congress, it will grant a Kingston, Jamaica-based International Seabed Authority (ISA) the power to regulate deep-sea oil exploration, seabed mining, and fishing rights.

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If approved, it will grant a Kingston, Jamaica-based International Seabed Authority (ISA) the power to regulate deep-sea oil exploration, and seabed mining.

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Under the UN's Convention on the Law of the Sea, mining rights on the ocean floor are controlled by a little-known body, the International Seabed Authority, which since 2001 has issued 13 licences - with another six in prospect.

BBC: UK Seabed Resources joins deep-ocean mineral-mining rush

Stephen Ball, chief executive officer of Lockheed Martin UK, owner of UK Seabed Resources, says the engineering experience of offshore oil and gas operations and the trend to rising mineral prices have now combined to make seabed mining feasible.

BBC: UK Seabed Resources joins deep-ocean mineral-mining rush

President Reagan refused to agree to LOST's ratification in part because he found anathema the idea of empowering an international organization to raise its own revenues through what amount to taxes on seabed mining and energy exploitation.

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