Held on 23 February 2022, the ceremony saw the signing of three Seabed Mineral (SBM) exploration licences with companies: CIC, CIIC Seabed Resources and Moana Minerals.
The licence granting was the culmination of a 16 month long application process, involving due diligence assessments, public consultations, expert panel evaluations, the establishment of SBM bodies, and numerous internal and external checks and balances. Speakers on the day commented on the thorough process that applicants went through before Government made it decision to grant the five-year exploration licences.
“These are long term partnerships, so we the Cook Islands government were very careful about who we allowed to operate in our waters,” said Prime Minister Brown.
As the need for critical minerals is now expected to be greater than the supply from the mining industry and recycling, Norway is in an excellent position to become a leader in the exploration for deep-sea minerals. At the upcoming Deep Sea Mineral Conference in October this year, we will address challenges and opportunities that lie ahead.
The exploration activities anticipated over the next five years include surveying and mapping the seafloor, collecting geological and biological samples, and carrying out environmental baseline studies. Exploration research will allow the Cook Islands to make informed science based decisions about future seabed minerals activities.
Between 1974 and 2007, 21 exploration expeditions were carried out in Cook Islands waters. In comparison, there are over 60 exploration expedition legs planned over the next five years.
No minerals harvesting will be allowed under an exploration licence.
“We will continue to proceed using the precautionary approach, taking actions based on the best available science, to manage our seabed minerals resources and the protection of our biodiversity” said Prime Minister Brown.
