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By Alexander Malahoff

The most exciting frontier in Ocean Technology is represented by a new class of Marine Bioproducts, the source of which lies in marine microorganisms. The microorganisms include microalgae, bacteria and archaea. These organisms represent very diverse, adaptive life forms and in their metabolic processes use carotenoids, polyunsaturated fatty acids, ultraviolet blockers, as well as a wide range of enzymes that are pivotal in the production of new pharmaceuticals and nutraceutical products. These organisms cover a wide spectrum of ocean environments, from the shallow to the deep, from the normal to the extreme. The technological challenge is in the identification of candidate organisms, in the screening for valuable enzymes, and in the industrial production. A whole new range of collecting strategies involving submersibles, ROVs and in situ ocean floor instrumentation is emerging. New non-polluting industrial chemical processes involving the use of photobioreactors and extremophile bioreactors for breeding and monitoring these organisms in neo-farming technology is emerging. The commercial value of these candidate products is immense, as is the range of potential organisms. The dimension of this new industry is global. The Marine Bioproducts Engineering Center (MarBEC), funded by the National Science Foundation (NSF), has been established at the University of Hawaii. The vision of MarBEC is to develop a seamless research system stretching from undergraduate education to industry for the purposes of producing valuable marine bioproducts outside of the normal chemical factory production. MarBEC is uniquely and strategically placed in the Pacific to explore, find, and adapt highly bioactive marine micro-organisms found in the tropical ocean. We have watched the increasing need by the ever-

Jan 1, 2000

By LeRon E. Bielak

Public Law 103-426 was signed into law in October 1994. Its provisions amended sections 8(k) and 20(a) of the Outer Continental Shelf Lands Act (OCSLA). The 8(k) amendment provides the Secretary of the U.S. Department of the Interior 001) with new discretionary authority to negotiate agreements for using Outer Continental Shelf (OCS) sand, gravel, and shell resources for certain projects of public benefit (e.g, beach, shoreline and coastal wetlands restoration that are under- taken by a Federal, State or local government agency). The new law also covers construction projects that are funded wholly or in part or authorized by the Federal Government. Under the law, the Secretary may assess a fee for use of the resource by taking into consideration the value of the resource and the public interest served. The law also requires that any Federal agency proposing to make use of OCS sand, gravel, or shell resources enter into a Memorandum of Agreement (MOA) with the DOI. An MOA would promote efficient coordination and resolution of inter- agency scheduling and issues. The law requires that Congress be notified before use is made of these OCS resources. The amendment to section 20(a) of the OCSLA clarifies that obligations concerning environmental studies extend to non- competitive lease situations and includes minerals other than oil and gas. The Minerals Management Service (MMS) is the DO1 agency responsible for interpreting and implementing the provisions of Public Law 103-426. The negotiated agreement approach is distinctly different from the competitive bidding requirements that have applied to all OCS minerals since the inception of the OCSLA. The MMS has opted to implement the new law in a nontraditional manner. Rather than issuinga body of new regulations to cover the negotiated agreement situation, or attempting to amend three sets of existing regulations, MMS is pursuing a less formal approach of providing guidelines. More weight is placed on the negotiation process itself and the legal agreement that consummates the process as the means for establishing ground rules, terms, and conditions under which qualifying projects may be conducted. This process must recognize and adhere to requirements of other laws, including the National Environmental Policy Act.

Jan 1, 1995

By Julian Malnic

The emerging marine minerals exploration and mining industry is currently focused mainly on the technical elements for its success such as developing exploration and mining technologies. However, in one sense, the technical challenges are quite soluble whereas those arising in the fields of the environment and public opinion could present this new generation of miners with problems that are far more difficult to overcome. One need only look at the issues currently faced by mining projects on land to see how powerful the new forces of so-called ?civil society? are in stopping mineral developments in many countries. From the geographic viewpoint, there are many countries but there is just one ocean, so the impacts experienced by any one operation are likely to have pervasive repercussions throughout the industry. A well-oiled NGO development protest lobby will see leverage in resisting this new industry and will seize on the single-ocean angle. The Australian Minerals Industry has established a voluntary Code for Environmental Management that provides an active and valuable model for satisfying the ?court of public opinion? and in delivering economic results to industry that are in current jargon, sustainable. An explanation of the Code for Environmental Management, and the reasons behind 44 companies representing more than 300 operations and 85% of Australia?s sizeable mineral production being signatory to it will be given. Participants see it as a means to future shareholder wealth.

Jan 1, 2000

By J. R. Woolsey

Research grants of The Marine Minerals Technology Center (MMTC) are directed toward development of the technology 'for exploration, mining, and processing of non-fuel mineral resources within the U.S. Exclusive Economic Zone. FY 1989-90 research grants are as follows: - Seafloor Gamma Measurement Data Collection System. - Free-Fall Seafloor Hard Substrate Corer. - Microtopography of Manganese Crust Deposits. - Cobalt Crust Continuum on Seamounts, EEZ, Hawaii. - Economics of Marine Polymetallic Sulfide Resources. - Graphite Furnace Atomic Absorption Spectrometer. - Depositional Models for Aggregate and Heavy Mineral Exploration. - Sand Resources of Heald and Sabine Banks, Texas. - Sources, Geometries, and Compositions of Heavy Mineral Placers. - Geostatistical Methods for Marine Placer Exploration. - Computer Aided Design for Communication and Strength Umbilicals.

Jan 1, 1989

By Gérald Riverin

Over the past century, exploration methods for volcanogenic massive sulphide deposits have evolved in response to a decreasing number of discoveries made by traditional surface prospecting and by ground and airborne geophysics. Statistical trends support the concept that fewer and fewer outcropping and sub-cropping VMS discoveries will be made in the future. In turn, this creates new opportunities to develop more sophisticated exploration models and techniques to explore at greater depth and to make blind discoveries. Current exploration models include various combinations of geological, geochemical and geophysical criteria which have been based on the results of land-based VMS research. The role of seafloor research in the development of these models has so far been only of a subordinate nature, perhaps due to a lack of direct involvment of the exploration industry in the seafloor research, and vice-versa for the seafloor researchers in VMS exploration. Another contributing factor is that exploration relies on exploration criteria that result from detailed geological, geochemical and geophysical studies of both footwall and hanging wall rocks, studies that are not possible in modern sea floor environments. Nevertheless, seafoor research has contributed to our understanding of the growth of sulphide mounds, the mechanism of sulphide deposition and of the chemistry of fluids involved in VMS systems. In particular, the role of structure and of tectonic setting has been clarified through observation of active seafloor hydrothermal systems. In turn, observations made in land-based VMS research has helped seafloor researchers to focus on key issues which, will eventually contribute to improved exploration models.

Jan 1, 1998

By Robert G. Ditchburn

The NW caldera hydrothermal vent field at Brothers volcano, of the Kermadec-Tonga arc, has associated massive sulfide mineralization. This includes an abundance of black smoker chimneys that contain significant concentrations of copper, lead, zinc and gold (de Ronde et al., 2005; de Ronde et al, 2010, under review). [ ] The oldest volcanic massive sulphide (VMS) samples recovered so far from Brothers have been dated using radiometric methods at GNS Science and found to be c. 1000 years old. By contrast, a volcanic cone that has formed in the southern part of the caldera has no associated VMS. Only elemental sulphur and Fe-oxide crusts are present here, samples of which have been analysed for their trace elements. From d34S values of sulfates and native sulfur, and the volume of gas (dominated by CO2 and H2S) discharging at the cone site, elements being deposited here are considered more directly magmatic in origin (de Ronde et al., 2005; 2010 under review). It has been discovered that deep-seated changes in volcanic activity at Brothers affect the NW caldera and cone site simultaneously, though the mineralogy at each site is so very different. Thus, the cone site is being studied to determine if elements being deposited there can be used as predictors of potential future VMS mineralisation as similar sites have been found at other volcanoes along the Kermadec arc and elsewhere. The frequency of these deep-seated magmatic events is considered important in the formation of Cu-Au-rich mineralization along arcs. The analysis of Fe within resulting hydrothermal plumes (surveyed by surface vessels), and trace elements in rock and mineral samples, are used to help determine the influence of magmatic contributions to the hydrothermal system. To verify that plumes are a reliable proxy for hydrothermal events depositing iron on the seafloor, Fe-oxide crusts from Brothers volcano cone have been dated to see if their emplacement coincides with highly Fe-enriched plumes in the water column. The radiometric dating techniques developed for barite-rich VMS, i.e. using 228Ra and 226Ra, were unsuitable for the Fe-oxide crusts because 210Pb was the only isotope detected by gamma spectrometry. Therefore, new techniques using 210Pb, 10Be and arsenic have been established.

Jan 1, 2010

By Irina A. Pulyaeva

Hydrogenetic Fe-Mn crusts are ubiquitous in the ocean basins and play an important role in marine mineral-deposit research because of their widespread occurrence and high concentrations of valuable and rare metals. Directed research, which started in the last quarter of the 20th century, has provided significant results, with substantial amounts of data produced on Fe-Mn crusts structure, composition, and distribution in the global ocean. Detailed study of several seamounts has given confidence about the scale of Fe-Mn crust development and their characteristics. Now, commercial interests gain more and more attention. However, at the same time some theoretical questions related to Fe-Mn crust history including controls on metal sources and concentrations have not yet been answered. Here, we present the overview of age, composition, distribution, and geological setting of hydrogenetic Fe-Mn crusts from Pacific and Atlantic seamounts and discuss the geological evolution and conditions that led to the formation of potentially economic concentrations of metals. The age, composition, and distribution of Fe-Mn crusts in the Atlantic and Pacific oceans were determined by using a Fe-Mn deposits database compiled from our original data, published papers, published databases, and other international sources. Comparative analysis of Fe-Mn deposits from the Atlantic and Pacific oceans shows that there are similarities in basic characteristics of crust formation in both oceans. Simultaneously, there are significant differences in the scale of Fe-Mn crust distribution and composition that can be explained by differences in geological settings and characteristics of the deposition environment.

Jan 1, 2011

By James R. Hein

Ferromanganese oxyhydroxide crusts (Fe-Mn crusts) precipitate out of cold ambient seawater onto hard-rock surfaces at water depths of about 600-4000 m throughout the ocean basins. Fe-Mn crusts concentrate most elements in the Periodic Table above their mean concentration in the earth's crust (continental plus oceanic crust), except for the major rock-forming oxides and also notably gold and palladium. Tellurium is concentrated greater than any other element relative to its earth's crust mean (about 1 ppb). For example, mean contents of the elements heretofore known to be most enriched in crusts, Mo, Tl, Sb, Co, Mn, Bi, As, Se, and Pb are enriched 100 to 1000 times over their earth's crust mean, whereas the mean Te content in Fe-Mn crusts is enriched about 50,000 times. However, the distribution of Te in the earth is poorly known. Estimates of the mean Te content of the earth's crust range from 0.36 to 10 ppb, with 1 ppb being the most commonly cited mean content (compilations in Levinson, 1974 and Govett, 1983). If we took the highest estimate of 10 ppb, then Te would be enriched in Fe-Mn crusts five times more than the next most enriched element, or 5000 times the estimated maximum mean earth's crust.

Jan 1, 2000

By Sven Petersen, Iain J. Stobbs, Bramley J. Murton, Paul A. J. Lusty

"INTRODUCTIONIt is widely thought that seafloor massive sulphide (SMS) deposits, the modern analogue of volcanogenic massive sulphide (VMS) deposits, present a potential global resource for base (Cu, Zn) and precious metals (Au, Ag). In addition, SMS deposits can be enriched in ‘critical metals’ including Se, Te, Tl [1], which are essential for use in the construction of modern and green technologies. Globally over 340 high temperature hydrothermal sites have been identified at a range of ocean spreading centres [2], significant massive sulphide deposit formation has been recorded at 165 of these sites [3].To date only 13 deep sea sulphide deposits have undergone intrusive investigation (drilling or coring) and of these, only 6 sites have published tonnage estimates [2]. Almost all research and drilling of SMS deposits has been focused on active systems, the investigation of the morphology, subsurface structure and mineralogy of hydrothermally extinct seafloor massive sulphide (eSMS) deposits is almost non-existent.As such, little is known about the mechanisms that operate post-SMS formation and which have an impact on the preservation and hence resource value of SMS. Identifying these generic processes and mechanisms, and the extent to which they impact the resource grade, is critical in evaluating the global potential of SMS."

Jan 1, 2017

By Ivar Eskerud Smith, Ole Jørgen Nydal, Niranjan Reddy Challabotla, Svein Sævik

INTRODUCTION Airlift pumping, utilize compressed air that is injected at the bottom of a vertical pipe submerged in the water, reduces the mixture density inside the pipe and lifts the liquid or mixture of liquid and solids. This type of pumping technology, which is simple and without moving parts submerged in water, which provides several advantages compared to the mechanical pumping. Airlift is used in various difficult pumping applications such as transport of fluids corrosive to metals, explosives, nuclear and toxic materials in chemical industries, diamond mining and coal transport. Application of airlift to deep sea mining conditions was investigated by extensive laboratory experiments [1], theoretical analysis [2], and limited proof of concept field studies [3] starting in 1970’s with the discovery of huge amounts of manganese nodules discovered on the seabed at a depth of ranging from 4000 to 6000 m . Even after extensive investigations over the last five decades, there exists no commercial application of airlift technology for lifting of minerals. The major problems with the application airlift for deep ocean mining was (a) lack of control over the expansion of the injected gas, which increases the velocity in upper part of the riser pipe (b) lower efficiency compared to mechanical pumping [3]. Different flow regimes are encountered in airlift pumping: bubble, slug, churn and annular flow. Annular flow regime is the least efficient in lifting of particles and churn flow has better efficiency [3].

Jan 1, 2018

By Peter M. Herzig

In September-October 2002, shallow seafloor drilling using the 5 m-Rockdrill of the British Geological Survey and the German R/V Sonne has revealed critical information on the sub-surface nature of two distinct hydrothermal systems in the New Ireland fore-arc and the Manus Basin of Papua New Guinea. Drilling at the summit plateau of Conical Seamount (39 holes, 31 % recovery) south of Lihir Island in the central New Ireland fore-arc has confirmed the sub-seafloor extend of previously discovered surface gold mineralization (up to 230 g/t Au) and associated alteration to a depth of at least 4.5 m below the seafloor and further proven analogies to the giant Ladolam epithermal gold deposit on Lihir Island. Drill core samples of clay-silica alteration contain average gold grades up to 14.2 g/t Au over a length of about 30 cm (fire assay Lihir Gold Ltd. laboratory) and appear to be part of a more extensive gold zone located below a carapace of relatively fresh ancaramitic and trachybasalt. These samples contain a complex mineralogy including realgar, orpiment, galena, sphalerite, some chalcopyrite and pyrite, together with amorphous silica, and possibly cinnabar. In addition to high concentrations of gold, shipboard analyses indicate that the gold-rich samples contain high values of Pb, As, and Sb, which is a characteristic feature of a magmatic-hydrothermal style of mineralization and alteration.

Jan 1, 2002

By W. C. Burnett

The land phosphate deposits of the U.S. southeastern coastal plain have long been a major factor in the world trade of phosphate rock (Fig. 1). As recently as 1979, deposits of North Carolina and Florida alone accounted for about 33 percent of the entire world's phosphate exports. This situation is changing, however. World production increased by ~9 %, yet the U.S. share was down to ~28% in 1984. A complex interaction of economic and political factors combined with increasing costs of raw materials, production, and transportation have led to this systematic erosion of the U.S. market share. Changing land-use patterns within the southeast, environmental pressures, exhaustion of shallow high-grade resources in Central Florida, and the increased pressure from expanding low-cost production in other countries throughout the world account for much of the present difficulty in the U.S. phosphate industry. Considering this depressed environment -- what are the prospects for development of offshore resources? A summary of new research on offshore phosphorite within the U.S. Exclusive Economic. Zone (EEZ), as well as an attempt to place possible development of these resources within the current economic setting, is the purpose of this presentation. We will emphasize work in progress on a major offshore deposit along the U.S. Atlantic Margin as well as new research on Pacific Ocean occurrences of phosphorite on seamounts and insular slopes within U.S. waters.

Jan 1, 1986

By Kristian Drivenes, Steinar L. Ellefmo, Kurt Aasly, Ben Snook, Przemyslaw B. Kowalczuk, Rolf Arne Kleiv

"Since Ellefmo et al. (2014) published resource estimates of undiscovered seafloor massive sulfides (SMS) on the Arctic Mid-Ocean Ridge (AMOR), there has been an increased focus on establishing new knowledge about exploitation technologies for such deposits. This also includes understanding the process mineralogical properties of typical SMS deposits.The part of the AMOR that lies between Jan Mayen and the Svalbard Islands and is located within Norwegian jurisdiction and, as such, investigating the potential for mineral production from hydrothermal vent fields has been seen as strategic. The AMOR has been explored for active hydrothermal vent fields since early 2000s (Pedersen et al., 2010b). One of the active vent fields discovered, Loki´s Castle, is located in the northern part of Mohn´s Ridge. This vent field was first described by Pedersen et al., (2010a) and consists of two mounds, each approximately 100-150 m diameter and 20-30 meters high, hosting several active chimneys, up to 11 m high.Loki´s Castle has been selected as a case site in order to study the properties of typical SMS occurrences with respect to possible future deep-sea mining activities. As part of the MarMine cruise in 2016, the Loki Castle was visited and sampled for e.g. mineral characterization and mineral processing analyses. In total, more than 500 kg rock samples were collected using ROVs, and intended for further research (Ludvigsen et al., 2016). In addition to sampling mineralized rock fragments, survey data like bathymetry, magnetics and Underwater Hyperspectral Imaging (UHI) was collected using Automated Underwater Vehicle (AUV)."

Jan 1, 2017

By Yoshitaka Hosoi

The survey of the cobalt-rich crust of the Republic of the Marshall Islands was carried out in 1996 and 1998, as the cooperative study project between Japan and SOPAC member countries, and at the thirteen seamounts, seafloor topographic maps and acoustic reflection intensity distribution images by MBES were obtained, and the collection of samples by dredging was conducted. On the basis of the previous results, three seamounts, MS01, MS11 and MS12 were selected for the 2002 year survey, and drilling by BMS (deep sea boring system) was conducted there, to understand the occurrence of cobalt-rich crust. At the same time, environmental survey was carried out to make clear the environmental characteristics of the area. The summary of the survey will be reported.

Jan 1, 2003

By Det Juridiske Fakultet, Maria Madalena das Neves

The ocean is increasingly seen as the answer for a myriad of challenges facing humankind. In effect, in addition to being vital for transportation and communication, the oceans contain living and non-living resources that are essential to meet the demand for food, and to the development of pharmaceutical products, energy resources, and high-technology products. This entails that the oceans are under pressure by different activities: navigation, fishing, oil and gas exploration and production, renewable energy development, laying of cables and pipelines, marine scientific research, bioprospecting, and deep-sea mining for minerals and metals. The growing demand for essential minerals and metals such as cobalt, nickel, zinc, copper, and manganese, seen in tandem with technological advances in deep-sea mining, makes the latter an increasingly attractive activity, both in areas within and beyond national jurisdiction. At the same time, the further development of deep-sea mining adds to the problem of the competing uses of maritime space and accentuates the need to balance and articulate the interests of the different users of the seas (States, sponsored deep-sea mining investors, oil and gas investors, fishermen, shippers, etc.). Furthermore, as deep-sea mining activities increase and move on to an exploitation phase so does the possibility of new disputes (for instance during deep-sea mining exploitation a communication’s cable is severed, a vessel conducting deep-sea bottom fisheries damages deep-sea mining equipment, etc.).

Jan 1, 2018

By Charles L. Morgan

In June 1996, the United Nations International Seabed Authority opened shop in Kingston, Jamaica as an autonomous international organization charged with the administration of seabed mineral developments in all areas beyond national jurisdictions. The Authority is a consequence of the 16 November, 1994 entry into force of the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and the 1994 Agreement relating to the Implementation of Part XI of UNCLOS. The total seabed area included within the Authority?s purview has yet to be assessed accurately, but clearly constitutes the largest single jurisdiction on the planet. The Authority is governed by legislative bodies called the Assembly and the Council and an administration called the Secretariat. The Assembly includes representatives of the 132 member states which are currently parties both to UNCLOS and to the 1994 Agreement. These member states directly fund the operations of the Secretariat. They include most of the world?s developed nations, island nations, and others among the 188 independent countries which are members of the United Nations. Notably absent are the United States and Canada, which are the only developed coastal states not represented. The Council is a 36-member subset of the Assembly representatives selected through a somewhat involved process designed to achieve a balanced representation of the specific interests of the members. Ultimate responsibility for the Authority?s actions resides in the Assembly, but most initiatives originate in the Council. Also included in the Authority are two subsidiary advisory bodies, the Finance Committee, which reviews the Secretariat?s budget, and the Legal and Technical Commission, which evaluates claims and drafts technical regulations. The Secretariat itself includes a staff of about 30, including 15 highly qualified and competent attorneys, accountants, engineers, and scientists. Details describing the composition and activities of these bodies can be found at the Authority?s website (http://www.isa.org.jm).

Jan 1, 2000

By Richard C. Newell

The United Kingdom marine aggregate mining industry is the second largest of its kind after Japan. Materials for the construction industry, sea defences and for many other purposes are exploited from shelf waters at depths of 30-50 metres by self-contained suction dredgers which often screen material to obtain a cargo of a particular quality. Assessment of the environmental impact of such mining activities both within the boundaries of the dredged areas, and in the zone of deposition of outwash from the dredger has in the past been mainly based on predictive models based on the settlement rates of the individual particles and assumed Gaussian diffusion principles during the settlement phase. Recent studies which we have made on both the mass balance for materials rejected during the dredging process and direct measurements of the settlement of material in the dispersing plume suggest that the zone of settlement is much less than that predicted from diffusion models. Instead of a downstream settlement plume of 10-20 km in the tidal currents of U.K waters, our measurements show that inorganic components of the dredger plume reach background levels in the water column within 880 metres.

Jan 1, 2000

By Stanley R. Riggs

Phosphate deposits on the southeastern U.S. coastal plain have long been the major force in world phosphate markets. World markets continue to grow, but the role of U.S. resources is rapidly declining. This situation results from a complex interaction of economic, political, and environmental factors. Causes for this ongoing erosion of the U. S. market include 1) escalating costs, 2) changes in land-use patterns, 3) environmental pressures oh conventional mining techniques; 4) exhaustion of shallow, high-grade resources in Florida, and 5) increased, low-cost production in other countries throughout the world. In fact, some agencies and commodity personnel predict that the U.S. will become a net phosphate importer early in the next century. If this projection is correct, the U.S. industry must look towards major changes in the near future in order to continue to compete in the world market. One possible change includes development and application of unconventional mining techniques to cheaply recover vast 'new' potential resources in areas with lower land-use pressures. These 'new' resources include 1) deep phosphorites within major sediment basins of the southeastern coastal plain and 2) subsurface phosphorites on the continental shelf and within the U.S. EEZ. These latter resources include extensive deposits in Onslow Bay, N.C.; broad regions offshore of Savannah, Ga. and Cape Canaveral, Fla.; and the central portion of the west Florida shelf. Little research and exploration has been

Jan 1, 1988

By Sang-Mook Lee

The Manus back-arc basin behind the New Britain Trench is one of the major sites of active seafloor hydrothermal vent-fields which are considered to be modern-day analogue of felsic volcanic-hosted polymetallic massive sulfide deposits abundant in ancient geological record. Many of these deposits represent multi-million dollar resources, and yet very little are known about the fundamental processes leading to their formation. In November 2000 January 2001, the PACMANUS hydrothermal system in this region will be targeted by the Ocean Drilling Program Leg 193 to investigate the internal anatomy. A number of observations that suggest that the tectonic, magmatic and hydrothermal processes in the eastern Manus basin spreading center are unusual in that they can not be explained by a simple back-arc opening due to subduction of the New Britain Trench. Geochemistry of submarine volcanoes in the eastern Manus basin, for instance, shows affinity to arc rather than back-arc type volcanoes. Yet these submarine volcanoes lie too faraway from the Benioff-Wadati zone. One hypothesis is that the magmatic and subsequent hydrothermal activity of this region is a direct result of the irregularities in the deep crust and upper mantle structure and that the tectonic process is controlled by the sharp inflection of the New Britain Trench. According to this hypothesis, the two major southeast-trending strike-slip faults in the eastern Manus Basin, Djaul and Weitin Faults, should extend farther down and join to the New Britain Trench. They would form a transform arm of the triple junction with the New Britain Trench southeast of New Britain Island and southwest of Bougainville Island forming the other two arms. A trench-trench-transform triple junction can not be stable over time, and therefore a slight change in the plate velocity may lead to a dramatic change in the configuration of the plate boundaries. If so, the instability of the triple junction may cause large tectonic deformations, such as mantle uplift under the Manus basin due to mantle rupturing by transform faults, and therefore may explain the arc-style volcanism and unusual compositions of hydrothermal deposits in the eastern Manus basin.

Jan 1, 2000

By James M. Cairns

Deep Sea Minerals Inc. (DSM) is a high technology marine minerals and biotechnology corporation. The corporation is currently engaged in a worldwide leasing program to acquire exclusive rights in specific Economic Exclusive Zones (EEZ?s) that DSM?s marine geologists have identified as prospective targets for seabed mines of copper, zinc, gold, and silver. In the last two years the corporation has assembled an international team, including some of the world?s leading marine research scientists and engineers, and has created strategic partnerships and alliances with world-class engineering and mining groups. Development of a marine mining venture has key requirements in common with most other mining ventures. These include financing, deposit location, property acquisition, deposit delineation, and permitting, as well as the collection, transportation, processing and marketing of the ore itself. DSM has made progress on all of these fronts, which is outlined in a general way in this presentation. Financing for the venture is clearly the first big hurdle to overcome. Deep seabed mining involves new technologies and significant up-front capital investment. Less than fifteen years ago, such financing would probably have impossible to achieve, given classical business models. However, with the spectacular success of high technology ventures in the areas of electronics, software, and biotechnology, new business models and investment strategies have evolved which put relatively high evaluations on intellectual property and exhibit relatively high confidence in new ways of doing things. DSM is taking full advantage of these changes in venture capital markets in its financial planning.

Jan 1, 2000