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The International Seabed Authority issued a Discussion Paper aimed at the development and implementation of a payment mechanism for exploitation activities in the Area in March 2015.
The Paper sets out the main objectives and principles relevant to the development of rules, regulations and procedures in connection with a payment mechanism under the exploitation regime. It considers feedback from stakeholders who responded to the 2014 Stakeholder Survey issued by the Authority. The Paper also presents a discussion for consideration by stakeholders on a number of points including a proposed payment mechanism and relevant terms.
The main aim of the Discussion Paper was to act as the starting point for discussion and to provide some structure and direction to that discussion. The Authority was conscious of the need to engage effectively with stakeholders on this matter, particularly current and potential investors in the Area.
The Paper also highlights the necessity to obtain the latest financial, economic data, estimates and projections in order to build financial models to support assumptions and future recommendations to the Council.
Members of the Authority and all stakeholders were invited to comment on the Discussion Paper. A summary of the points raised by stakeholders and a plan for further development was submitted to the Council at the 21st Annual Session in July 2015.