Ocean's Minerals

Who owns the oceans minerals?

Rich mineral deposits lie on and just beneath the ocean floor. Coastal nations have the right to mine deposits near their shores. But mineral deposits on the ocean floor all nations can take it.

Who can afford to mine?

Mining on the ocean floor costs of of money. Only wealthy nations can afford it. But the still give other nations minerals.

What rights do nations have?

By 2003, 157 nations had signed the law of the Sea treaty. The mining prophits must be shared between all nations. Because of the treaty some nations think that everyone should share there technology and profits they get from the deposits.

How can the wealth be shared?

To prevent conflict over the mining ocean floor they might arrange a compromise. They give minerals to each and every nation.

Some Questions

1. Who owns the ocean minerals?

First all the nations need to and have to share the minerals. Many rich mineral deposits are just beneath the floor on just on top of the ocean floor. All nations have the right to mine near there shores. One of the problems we are having right now in the world is people sharing the mineral profits that nations get. The poor countries need help but the other countries do not want to help and use also there money to help the poor countries. They really need to share but they won't. All the oceans are not owned by anyone every nation needs to share the oceans and lands. So all the countries try to get to different places so they can get the minerals. But Nations can only mine in some parts of the ocean. And they try to expand there amount of space so they can get more minerals. So lets hope that everyone can share the mineral profits and make everything even and our world will become a better place.

2. Summarize the controversy about ocean mineral rights.

By 2003, 157 nations had signed the law of the Sea treaty. The mining profits must be shared between all nations. This treaty means that all mining profits must be shared between countries. Some people think that because of this treaty all the technologies should be shared including the mineral prophits.
3. Research this topic compare the concerns of wealthy nations with those of developing nations. How could you research developing nations that they will not be left out.

For prevent conflict over the mining ocean floor they might arrange a compromise. They give minerals to each nation. Minning costs a huge amount of money. New technologies are being made to get the minerals from deposits

4. Who owns the mineral deposits in the Arctic ocean?

In the Arctic Ocean, a new sea grab like the U.S., Canada, Greenland, Denmark, Norway and Russia. All of these states are trying to bring power over the ocean floor in the Arctic since an estimated 25 percent. There is a lot of oil and natural gas that is on the ocean floor. The artctic is fuled by melting the arctic ice this causes a climate change. So as the ice melts it easier to get the minerals and it becomes cheaper.

5. What are EEZ's ?

EEZ's are extensions of a states rights to resources offshore. An EEZ's boundaries always go way beyond territorical waters, it is like around 200 miles from shore. Also there are many resources of minerals in these waters. The U.N. compromised allowing all the nations with big and wide continental shelves to make there EZZ much bigger so it can go up to 350 miles from shore. Some Coastal nations have moved so they can make there EEZ's much bigger.

6. What is an International Waterway?

International waterways are straits, canals, and rivers that connect two areas of the high seas or enable ocean. International waterways also may be rivers that serve as international boundaries or traverse successively two or more states. Ships have a right of passage through international waterways.

7. Does any of the ocean belong to a specific country?

The five oceans are not really divided. Everyone on earths surface owns the oceans. But technically none of us really do. Many many years ago like centuries they decide that no one would own the oceans.

8. What are the issues with mining in the ocean?

Well all the nations want to get minerals. But some of the nations can not afford the technology and just do not have enough money. So when we get the minerals we need to share. And then also some places get more then other places. Everyone moves so they can try and get lots of minerals even though they need to share.