Cook Islands Seabed Minerals Authority
Runanga Takere Moana
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News & Press Releases

 
 

You can read all the latest news and updates on the Cook Islands seabed minerals sector here.

 
Posts tagged nodules
Parliament approve improvements to the Seabed Minerals Act
Parliament approve improvements to the Seabed Minerals Act

Parliament unanimously approved the Seabed Minerals Amendment Bill 2024 yesterday.

The purpose of the amendments were to improve the overall seabed minerals regime. This included making the intent of some sections clearer, as well as changes to enable the Seabed Minerals Authority (SBMA) to fulfil its functions more effectively.

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Media ReleaseDede MingiSBMA, Exploration, Government, Parliament, Seabed Minerals Act, Seabed Minerals Amendment Bill 2024, Seabed Minerals Authority, Mark Brown, Cook Islands, Rarotonga, Te-Ara Henderson, Crown Law Office, New Zealand Parliamentary Council's Office, Seabed Minerals Act 2019, Exploration Regulation, Cabinet, Tina Pupuke Browne, Vaitoti Tupa, Alex Herman, Policy and Regulatory Oversight, Latishia Maui-Mataora, Cook Islands Seabed Minerals, Brown, Bill, support, amendment, SBM, minerals, seabed, changs, policy, process, harvesting, purpose, improve, standards, now, activities, collection, nodules, management, clearer, continue
SBMA Release: Cook Islands participates in international seabed meetings
SBMA Release: Cook Islands participates in international seabed meetings

The Cook Islands recently participated in the 28th session of the International Seabed Authority (ISA) in Jamaica, which included meetings of the Council and Assembly. The ISA is the body responsible for seabed minerals (SBM) activities in international waters, while the Seabed Minerals Authority (SBMA) is responsible for managing SBM activities in Cook Islands waters. 

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Media ReleaseDede MingiCook Islands Seabed Minerals Authority, Seabed Minerals Authority, Polymetallic Nodules, nodules, Cook Islands, Rarotonga, International Seabed Authortity (ISA), Jamaica, Kingston, Meetings, Council, Cook Islands Prime Minister, Mark Brown, ISA Secretary General Michael Lodge, Te-Ara Henderson, Rima Browne, SBM Commissioner, Alex Herman
Cook Islands signs seabed minerals deal
Cook Islands signs seabed minerals deal

“In a deal worth $100,000, OML has reserved around 23,000 square kilometres, or 1.2% of the Cook Islands Exclusive Economic Zone (EEZ) containing high value polymetallic (manganese) nodules for up to 18 months.

This gives the company the exclusive right to apply to undertake prospecting and exploration activities in that area. The first agreement between the government and the OML was signed a year ago in which they reserved a different seabed area of around 12,000 square kilometres to explore primarily for seafloor sediment enriched in Rare Earth Elements (REEs), as well as four additional areas reserved for OML on a first option basis.

Under this latest agreement, Finance minister Mark Brown confirmed the OML will not undertake any activity in this particular area, adding it was merely to reserve the spot for potential exploration in the future.

“It is basically to give them the first right over this (area) ahead of any other company that may want to come in and apply for an exploration licence in this particular area,” Brown said.”

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CI NEWSDede MingiCook Islands Seabed Minerals Authority, Cook Islands, Rarotonga, Ocean Minerals Limited, CI EEZ, Cook Islands Exclusive Economic Zone, Polymetallic Nodules, Manganese, nodules, Cobalt, Rare Earth Minerals, Mark Brown, Cook Islands Investment Corporation (CIIC), Seabed Minerals Act, Marae Moana Act, OML