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An open-ended working group of the Council was created in July 2018 to discuss a financial model and payment mechanism for deep-sea mining. The group is chaired by Mr. Olav Myklebust (Norway) and, as of June 2021, has held four meetings to discuss the various options and associated rates of payment.
At its last meetings in February 2020, the Council of the International Seabed Authority invited all stakeholders to submit comments to the secretariat by 23 March 2020, for the purpose of further refining the assumptions of the system of payments and associated rates of payment. Comments received by the Secretariat as of 6 April 2020 have been compiled in this document.