http://www.miningaustralia.com.au/home
A symposium on polar law has heard that mining will indefinitely be banned in the Antarctic region. The event, held in Hobart, saw the former head of the Australian Antarctic Division claim that the Antarctic Treaty – which bans mining in the region – will not be revised later this century, according to the ABC.
It comes as polar ice both in the Arctic and Antarctic regions begins to recede, opening up new regions for resources companies. While the Antarctic appears barren on the surface, below it stores an abundance of highly sought resources, including coal, iron ore, manganese, copper, lead, uranium and billions of barrels of oil reserves.
The resources are plentiful but they have been largely untouched as a result of an international peacekeeping agreement – the Antarctic Treaty System (ATS).
Established in 1961, the Treaty includes 12 original signatories, consisting of Australia, New Zealand, Japan, Argentina, Belgium, Chile, France, Norway, South Africa, Russia, the United Kingdom, and the United States, plus 28 other states that have ‘consultative party’ status, which allows them to vote on decisions concerning Antarctic administration.
Australia claims the majority of Antarctica, with the Australian Antarctic Territory covering 42 per cent of the continent. In 1991, nations of the Treaty agreed to ban the exploitation of minerals by signing a comprehensive Protocol on Environmental Protection (the Madrid Protocol).
However motions were made to revise this treaty in 2048 on the back of an increased push for resource security.
In July 2011 China received approval by the United Nations’ Jamaica-based International Seabed Authority (ISA), which regulates mineral exploration in international waters, to explore for polymetallic sulphide deposits in the Southwest Indian Ridge, between Africa and Antarctica.
China will be allowed to explore the area for 15 years, covering about 10,000-square-kilometres.
In early August of that year Russia also received approval by the ISA to begin prospecting in the mid-Atlantic.
For the rest of this article, click here: http://www.miningaustralia.com.au/news/antarctic-mining-ban-to-be-indefinite