The Cook Islands (South Pacific) experience in governance of seabed manganese nodule mining
The Cook Islands (CI), South Pacific, has one of the highest ratios of ocean to land area of any ocean island state in the world. Within it's EEZ exist abundant resources of seabed manganese nodules, thought to be the fourth richest resource of its type in the world, with a potential theoretical monetary value of c. $10 trillion US. The largely hydrogenetic nodules are rich in Ti, REE, Mn, Co and Ni. Economic studies suggest that a single twenty year-long mining operation could generate c. 150 jobs directly supporting 15% (c. $43M US) of the CI GDP.