The Pros And Cons Of Deep Seabed Mining

In addition, however, Article 5 of Annex III to the Convention sought to give binding quality to certain obligations concerning technology transfer. And, in particular, Article 5(3) of Annex III required each deep^ seabed contractor to make available to both the Enterprise and developing countries involved in seabed mining the requisite technology for their operations which the contractor is legally entitled to transfer. Such technology was to be transferred on a fair and reasonable commercial basis, and, was to be available at the request of the Enterprise or the developing countries concerned.129
Not surprisingly, the idea that contractors should be legally obliged to transfer technology to the Enterprise and developing countries had encountered opposition from developed countries, …show more content…
velopment, and disregarded the effort and expenditure undertaken by private entities in formulating scientific solutions to deep seabed mining questions.131 Although these points had been made in the UNCLOS III deliberations, they did not prevail in Law of the Sea Convention;132 for, even if …show more content…
State parties must cooperate fully and effectively with the Authority for this purpose and ensure that contractors sponsored by them also cooperate fully with the Authority.(Key Issue Commercial