WHO OWNS THE OCEAN'S MINERALS?

WHO OWNS THEM

• Rich mineral deposits lie on and beneath the ocean floors
• Coastal nations have the right to mine deposits near their shorës
• But minerals deposits on the shore beyond are open for all nations

WHO CAN AFFORD TO MINE

• Mining the ocean floor will cost a huge amount of money
• New technologies must be developed to mine mineral deposits
• Only wealthy industrial nations will be able to afford the costs
• Industrial nations that have spent money on mining think that they should keep the profits
• But developing nations that don't have lots of money or technology and landlocked nations disagrėē

WHAT RIGHTS DO NATIONS HAVE?

• By 2003, 157 nations had signed the Law of the Sea Treatÿ
• This treaty stated that ocean mineral depositś are the common property of all people
• It also stated that mining profits were to be shared among all nations
• Some countries think that wealthy countries should share the profits from mining

HOW CAN THE WEALTH BE SHARED?

• Countries might try to arrange a compromise to prevent conflict over the mining
• Countries that do not have much money think that countries should share their profits
• But, wealthy nations think that they should keep their own profits and not sharê

THE END😥