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Newsflash

Rarotonga, Cook Islands Tuesday 29th August 2012: Cook Islands Deputy Prime Minister, the Honourable Tom Marsters today attended the release of the new Regional Legislative and Regulatory Framework for Deep Sea Minerals Exploration and Exploitation at the Pacific Island Leaders Forum currently underway here in Rarotonga, Cook Islands.

Marsters reflected that this Framework was called for by Pacific Leaders at their Forum in Cairns in 2009 as one of the key priorities of the Leaders Pacific Plan, during the period 2009 and 2012. In Cairns, Leaders called for the development of regional and national frameworks to enable the development of the economic potential of marine mineral resources; and strengthening regional and national capacity in the mining, environment, labour and financial sectors to comply with relevant standards for the deep-sea mining industry within the region, while supporting environmental monitoring that seeks to preserve fragile marine ecosystems and biodiversity.

This regional framework is the first in the Seabed Minerals sector and is the response to the Forum leaders call and is available now to guide Pacific island countries to prepare relevant national legislative and regulatory frameworks in the seabed minerals area.   

Marsters said "the completion of this important framework and its release by SPC here at the 2012 Leaders Forum provides a key message from us gathered here for this Forum with the theme Large Ocean Island States: The Pacific Challenge".