I read it and you're wrong.This simply is untrue.BlindBoo is correct. We will not be giving up our exclusive rights in our EEZ. Furthermore, we would not be required to seek approval from the UN for our mining activities in our EEZ.I agree, we won't give up those exclusive rights to mine and drill in our EEZ. We will be the only nation permitted to seek such permission. However, our rights are thinned out by requiring us to seek approval from the UN for our mining activities in our EEZ. And, if we do manage to get that permit, the ISA also decides how the royalties an proceeds from that activity are distributed. They likely won't be unfair, though, but they will still have that authority.
"Coastal States have sovereign rights in a 200-nautical mile exclusive economic zone (EEZ) with respect to natural resources and certain economic activities, and exercise jurisdiction over marine science research and environmental protection"
Overview - Convention & Related Agreements
What seems to be neglected in this discussion is that the treaty establishes the 12 mile limit on territorial waters, something the US did years ago. Other nations have claimed territoriality limits at 200 miles. The treaty clarifies the territorial limits of archipelagic states, made up of a group or groups of closely related islands and interconnecting waters. The definition of these limits has been a source of a number disputes particular as it relates to fishing and oil drilling.
This is a good treaty which benefits the US and should be approved.
The activities of nations in their EEZ's will need approval from the UN and restrictions are placed on those activities.
Read it. It was linked to before.
This is spelled out quite clearly in Part XI, Section 3, Article 151. Crystal clear.
Please read it rather than believe me or anyone else.
Part XI of the Convention provides for a regime relating to minerals on the seabed areas outside any state's territorial waters or EEZ (Exclusive Economic Zones). In other worlds this section applies to areas outside of the US EEZ or territoriality waters.
Further, article I defines the meaning of area.
"Area" means the seabed and ocean floor and subsoil thereof, beyond the limits of national jurisdiction. Also Article 55 defines the EEZ as being under the jurisdiction of the nation.
The title of section 3 is DEVELOPMENT OF RESOURCES OF THE AREA. Article 151 defines production policies of that area which means they do not apply to the EEZ.
The thrust of this part of the treaty is to define mineral production policies in areas beneath the high which are beyond both the territorial waters and the EEZ of any nation. In no way does this restrict development within those areas.