The Enterprise is an organ of the Authority established by Article 170 and Annex IV of the United Nations Convention on the Law of the Sea. It is the organ of the Authority which is to carry out activities in the Area according to article 153 (2) (a) of the Convention, including the transporting, processing, and marketing of minerals recovered from the Area. The Enterprise is to act in accordance with the general policies of the Assembly and the directives of the Council, however, it is autonomous in the conduct of its operations, which will be directed by a Governing Board composed of 15 members elected by the Assembly of the Authority. The Enterprise will have a Director General, elected by the Assembly upon the recommendation of the Council and the nomination of the Governing Board. The Director General will also be Enterprise’s Chief Executive Officer and legal representative.
In the interim and in line with the evolutionary approach, the Secretariat of the Authority performs the functions of the Enterprise until it begins to operate independently of the Secretariat. Between 2018 and 2023, these functions were performed by a Special Representative of the Secretary-General for the Enterprise. During the twenty-eighth session of the Authority, the Council by decision ISBA/28/C/23 established the position of Interim Director-General of the Enterprise within the Secretariat to carry out the functions of the Enterprise contained in Annex Section 2 of the 1994 Agreement.
These functions are:
(a) Monitoring and review of trends and developments relating to deep seabed mining activities, including regular analysis of world metal market conditions and metal prices, trends and prospects;
(b) Assessment of the results of the conduct of marine scientific research with respect to activities in the Area, with particular emphasis on research related to the environmental impact of activities in the Area;
(c) Assessment of available data relating to prospecting and exploration, including the criteria for such activities;
(d) Assessment of technological developments relevant to activities in the Area, in particular technology relating to the protection and preservation of the marine environment;
(e) Evaluation of information and data relating to areas reserved for the Authority;
(f) Assessment of approaches to joint-venture operations;
(g) Collection of information on the availability of trained manpower;
(h) Study of managerial policy options for the administration of the Enterprise at different stages of its operations.
Special representative of the Secretary-General for the Enterprise between 2018 – 2023
Mr. Eden Charles (Trinidad and Tobago)
Interim Director General for the Enterprise