President Baron Waqa told a special 25th anniversary sitting of the assembly of the ISA in Jamaica that the regulations must be in harmony with the Convention on the Law of the Sea.
“They must balance commercially viable mining of the seabed with protection of the ocean ecology for the benefit of mankind as a while,” he said.
In March this year, the Legal and Technical Commission, a 30-member expert advisory body of the International Seabed Authority (ISA) released the draft regulations on exploitation of the mineral resources in the international seabed area.
President Waqa said Nauru like other Small Island Developing States has a strong affinity with the ocean.
“As a sponsoring state, Nauru has special interest in the conclusion and adoption of the draft exploitation regulations and is a keen participant in the process.”
“The development of the mining code and the work of the authority, particularly in regard to capacity building is to be commended,” he added.
President Waqa acknowledged the progress made by the ISA since its early days 25-years ago.
“The credibility of the Authority depends very much on the confidence it generates among its members as well as among those willing to work with it in the development of the common heritage resources.
President Waqa also paid tribute to former and current Secretaries General of the ISA, who have led it to its current standing.
Photo ISA. Caption: Special 25th anniversary commemorative sitting of the ISA Assembly