US seeks Cooks mining deal

NEGOTIATIONS are underway in the Cook Islands as the United States seeks a deal which will allow for the exploration of seabed minerals.

In an agreement signed on August 5, the US and Cook Islands governments agreed to affirm their “commitment to scientific advancement, mutual prosperity, economic self-reliance and environmental stewardship as we partner to map and research the Cook Islands’ seabed mineral resources.’’.

“Together, we commit to advancing responsible development of seabed minerals and global scientific understanding of the deep ocean, and to setting a high standard for transparent seabed resources management.”

The Cook Islands is currently in the five-year exploration phase for mining of polymetallic nodules, with the potential to become the first nation to mine the ocean floor commercially.

Three companies—Moana Minerals, Transocean Ltd. and CIC Ltd.—currently hold exploration licenses within the tiny nation’s exclusive economic zone.

The Polynesian nation’s seabed contains valuable minerals crucial for renewable energy technologies, such as nickel and cobalt.