A Joint Venture Agreement for Seabed Mining
The Third Uni ted Nations Conference on the Lawof the Sea is preparing rules far the establishment of an international legal regime governing the exploration and exploitation of the resources of the international seabed. The Draft Convention on the Law of
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STUDIES IN TRANSNATIONAL LAW OF NATURAL RESOURCES Published for the Institut für Ausländisches und Internationales Wirtschaftsrecht, Frankfurt am Main
VOLUME 5 GÜNTHER JAENICKE, ERICH SCHANZE, WOLFGANG HAUSER
A JOINT VENTURE AGREEMENT FOR SEABED MINING
1981
Springer-Science+Business Media, B.V.
STUDIES IN TRANSNATIONAL LAW OF NATURAL RESOURCES Published for the Institut fuer Auslaendisches und Internationales Wirtschaftsrecht, Frankfurt am Main VOLUME 5
CIP-Kurztitel der Deutschen Bibliothek: Jaenicke, Günther:
A joint venture agreement for seabed mining / Günther Jaenicke; Erich Schanze and Wolfgang Häuser. - Frankfurt am Main: Metzner; Deventer, The Netherlands: Kluwer 1981. (Studies in transnational law of natural resources; 5) NE: Schanze, Erich; Hauser, Wolfgang; GT. ISBN 978-94-017-4346-4 DOI 10.1007/978-94-017-4344-0
ISBN 978-94-017-4344-0 (eBook)
© 1981 Springer Science+Business Media Dordrecht Originally published by Kluwer B.V. Deventer, The Netherlands in 1981 Softcover reprint of the hardcover 1st edition 1981
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the publisher. Reference subjects: 1. Corporation law - Joint ventures. 2. Contract law - Investment contracts. 3. Public international law - Law of the sea. 4. Public international law Concessions. 5. Public international law - dispute settlement. 6. Natural Resources. 7. Economics - Mineral industries. Bibliography: p. 120.
Preface
The Third Uni tedNations Conference on the Lawofthe Sea is preparing rules far the establishment of an international legal regime governing the exploration and exploitation of the resources of the international seabed. The Draft Convention on the Law of the Sea (Informal Text) of 27 August 1980 which has so far been the result of the negotiations during the preceding sessions of the Conference, provides for a so-called "parallel system" under which an international "Enterprise" as weIl as national private or state-owned companies will be granted access to the resources of the international seabed under the control of an International Seabed Authority. The Draft Convention also envisages the condusion of joint venture agreements between the international Enterprise and national companies or consortia, and encourages such cooperation through granting various incentives. Such joint ventures will probably play an important part in making the international Enterprise operative in the early years of its existence. At the Conference concerns have been expressed whether and when the Enterprise as a newcomer would be in a position to start seabed mining and to compete effectively with the national companies. The Draft Convention provides for a number of ways and means to enable the Enterprise to develop its technological and financial capabilities for deep sea mining as early as possible. Among them, the entrance of the Enterp
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