SPC Geoscience Division

Monday 13 October 2014, Secretariat of the Pacific Community (SPC), Suva, Fiji -  The Government of the Republic of the Marshall Islands (RMI) formed an Interim National Seabed Minerals Management Board (INSMB) on 2 October 2014. The board members, consisting of a small team of government officers and non-governmental representatives, are tasked by Cabinet to develop national policy and law for the appropriate governance of the nation’s deep sea resources. The Board will receive financial support and technical assistance from the Deep Sea Minerals (DSM) Project: a partnership between the Secretariat of the Pacific Community (SPC) and the European Union (EU).

Old tales of treasure at the bottom of the ocean did not sound so fanciful in Majuro two weeks ago, when INSMB held its inaugural meeting to discuss the precious metals known to exist in the nation’s deep seabed.

INSMB Chairperson Rebecca Lorennij (Secretary for the Ministry of Resources and Development) thanked those at the meeting: ‘The RMI government and its people would like to thank SPC and the EU through the SPC–EU DSM Project for the ongoing support provided during the past few years.

The INSMB will now progress further with the national policy on deep seabed mining and the Seabed Management Bill before approval by the RMI government, a prerequisite to establish responsible governance and management of these resources.’