Who should share the mineral profits from the Pacific Ocean? From The Alantic Ocean?
See
http://en.wikipedia.org/wiki/United_Nations_Convention_on_the_Law_of_the_Sea
The question about who should share the mineral profits from the Pacific Ocean and the Atlantic Ocean pertains to the concept of deep-sea mining. While there is no specific answer to this question, I can explain some factors that could be considered in determining the distribution of mineral profits.
1. International Law: The United Nations Convention on the Law of the Sea (UNCLOS) is the primary legal framework governing the use and exploitation of ocean resources. Under UNCLOS, coastal states have sovereign rights over the resources within their exclusive economic zones (EEZs), which generally extend up to 200 nautical miles from their coastlines. However, deep-sea mining beyond national jurisdiction, also known as the international seabed area, is currently managed by the International Seabed Authority (ISA).
2. Coastal States: In the case of the Pacific Ocean, coastal states adjacent to the region being mined may argue for a share of the profits, claiming it is within their EEZs. Similarly, coastal states in the Atlantic Ocean might claim profits if the mining occurs within their EEZs. This would depend on the specific locations and boundaries of the mining areas.
3. International Seabed Authority (ISA): The ISA, established by UNCLOS, is an international organization responsible for regulating deep-sea mining activities in areas beyond national jurisdiction, including the international seabed area. The ISA aims to ensure the equitable sharing of benefits derived from mining the deep seabed for the common heritage of mankind.
4. Common Heritage of Mankind: The principle of the common heritage of mankind means that the resources of the deep seabed belong to all the people of the world and should be shared for the benefit of all. Under this principle, profits generated from deep-sea mining could be distributed for the collective benefit of humanity, such as investing in environmental preservation, scientific research, or development projects.
It is important to note that the distribution of mineral profits from deep-sea mining is a topic of ongoing international debate and negotiations. Different stakeholders, including coastal states, the ISA, and the global community, are involved in shaping the policies and agreements related to the sharing of these profits. The specifics will depend on various factors, including international agreements, the jurisdictions involved, and the decisions made by relevant authorities in the future.