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96 

Year Event Reference 

 The Legal and Technical Commission resumes its consideration of the 

draft crusts regulations. At the end of the session, the Commission requests the Secretariat to prepare a revised text incorporating the revisions proposed during the meetings of the Commission and aligned with the informal text of the draft sulphides regulations as agreed by the Council during the thirteenth session (ISBA/13/C/CRP.1). 

ISBA/14/C/8 ISBA/14/LTC/CRP.6 

2009 (January) The Secretariat prepares an updated version of 

ISBA/14/LTC/CRP.6 issued at the end of the fourteenth session. The updated version incorporates all the revisions proposed by the Legal and Technical Commission during the fourteenth session (2008) and is aligned with the revised text of the draft sulphides regulations contained in document ISBA/15/C/WP.1 and Corr.1. The Secretariat also updates background information on the status of the draft crusts regulations. 

ISBA/15/LTC/CRP.1 ISBA/15/LTC/3 ISBA/15/C/WP.1/Rev.1 

 The Council resumes its consideration of the draft sulphides 

regulations. At the end of the session, the Council requests the Secretariat to prepare a revised text based on the discussions and proposals in the Council during the thirteenth, fourteenth and fifteenth sessions. 

ISBA/15/C/5 ISBA/15/LTC/CRP.1 

 The Commission adopts its recommendations on the draft crusts 

regulations and decides to submit them to the Council. 

 

2010 The revised draft crusts regulations as recommended by the 

Commission are translated and proposed to the Council for consideration. 

ISBA/16/C/WP.2 

 

___________ 

 

ISBA/16/C/6 Proposal to seek an advisory opinion from the Seabed Disputes 

Chamber of the International Tribunal for the Law of the Sea on matters regarding sponsoring State responsibility and liability 

Submitted by the delegation of Nauru 

 

Date: 5 March 2010 

  

1. In 2008 the Republic of Nauru sponsored an application by Nauru Ocean Resources Inc. for a plan of work to explore for polymetallic nodules in the Area. Nauru, like many other developing States, does not yet possess the technical and financial capacity to undertake seafloor mining in international waters. To participate effectively in activities in the Area, these States must engage entities in the global private sector (in much the same way as some developing countries require foreign direct investment). Not only do some developing States lack the financial capacity to execute a seafloor mining project in international waters, but some also cannot afford exposure to the legal risks potentially associated with such a project. Recognizing this, Nauru’s sponsorship of Nauru Ocean Resources Inc. was originally premised on the assumption that Nauru could effectively mitigate (with a high degree of certainty) the potential liabilities or costs arising from its sponsorship. This was important, as these liabilities or costs could, in some circumstances, far exceed the financial capacities of Nauru (as well as those of many other developing States). Unlike terrestrial mining, in which a State generally only risks losing that which it already has

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