Dear DOSI and INDEEP Members,
The SPC-EU-DSM Project has launched two regional frameworks that could be considered and used as a guide for Pacific Island countries when developing relevant national policy, legislation and regulations related to financial and environmental aspects of deep-sea minerals development.
The Regional Environmental Management Framework contains an overview of deep-sea mineral deposit environments and potential environmental impacts of deep-sea mining projects, as well as management and mitigation strategies, including an environmental impact assessment report template. It serves as a guide for Pacific countries, informing and supporting them to make sound decisions regarding their deep-sea mineral resources and to take appropriate measures to reduce environmental risks, should they wish to engage in the mining industry.
Prepared in collaboration with the International Monetary Fund through the Pacific Financial Technical Assistance Centre, the Regional Financial Framework is aimed at providing Pacific countries with a guide to the major issues to be addressed when setting up national financial frameworks, and provides an overview of key issues in the financial management of revenues and wealth associated with the potential development of deep sea minerals in the region.