Friday, December 9, 2011

Metalliferous sediments in the Atlantis II Deep—Assessing the geological and economic resource potential and legal constraints
Abstract: Projected increases in demand and thus increasing metal prices have brought the exploration and exploitation of marine mineral resources back into focus. The Atlantis II Deep, located in the central Red Sea between Saudi Arabia and Sudan, is one of the largest marine sulfide deposits known, with high concentrations of metals such as zinc, copper, silver and gold. However, little is known about the economic potential of marine minerals as well as the legal constraints. Our geological assessment shows that the deep is similar in grades and scale to large land-based deposits. Its economic potential is far from negligible. The total present value of possible gross revenues for the four metals zinc, copper, silver and gold ranges from 3.03 to 5.29 billion US$, depending on the assumptions made concerning future price development, mass calculation and discount rate. From a legal perspective, a general duty to cooperate in the exploration and exploitation of non-living resources located in disputed maritime areas is identified in both customary international law and in UNCLOS. It is submitted that a joint development agreement is one means of ensuring compliance with this duty in general and in the case of the Atlantis II Deep in particular.

► We calculate the masses of Zn, Cu, Mn and Ag in A2D in depth slices down to 14 m.
► Mass calculations are based on 480 cores from the Saudi-Sudanese Red Sea Commission.
► The PV of possible gross revenues of A2D resources ranges from 3.03 to 5.29 bn US$.
► JDA as a useful way to ensure the legal duty to cooperate in resource use is upheld.

by Christine Bertram 1, Anna Krätschell 2, Killian O’Brien 3, Warner Brückmann 2, Alexander Proelss 4, Katrin Rehdanz 1 and, 5
Resources Policy via Elsevier Science Direct Volume 36, Issue 4; December, 2011; Pages 315-329
1. Kiel Institute for the World Economy, (IfW) Hindenburgufer 66, D-24105 Kiel, Germany; Tel.: +49 431 8814 261.
2. IFM-GEOMAR, Leibniz Institute of Marine Sciences, Kiel, Germany
3. Academy of European Law (ERA), Trier, Germany
4. Department of Law, University of Trier, Trier, Germany
5. Department of Economics, Christian-Albrechts-University at Kiel, Kiel, Germany
Keywords: Atlantis II Deep; Deep-sea mining; Joint development scheme; Metalliferous sediments; Resource potential; Saudi-Sudanese Red Sea Commission

No comments:

Post a Comment