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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 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 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 Jun Lu

Compared with land mineral resources investigation, as well known, it is more important for marine geologists to get image data (e.g. photographs, video tapes and various charts) because they are often hard to reach deep seabed directly. In the past years a plenty of image data which are in various forms have been accumulated. In contrast with both digital and character data managing the image data by using database is just unfolding and it will be a trend for marine mineral resources investigation. GIS (Geography Information System) offers another useful means of processing image data, especially geological data. GIS is characterized by processing vector data (e.g. point, line and polygon), but newer versions of GIS software package are also able to process raster data (e.g. photographs etc.). The present author made a presentation on marine mineral image database during 25th UMI, but that system runs under DOS environment and dealt with only mineralogy. Recently a new system which integrates Oracle image database with GIS (ArcView version 3.1) has been developed. This system runs under Windows NT environment. In the network environment Server/Client mode is adopted, and over 200 basic subdatabases (tables)are located on Server; operating interfaces are located on several clients so that several persons can operate the system simultaneously. The whole system involves five types of marine mineral resources: manganese nodules, cobalt-rich crusts, polymetallic sulfides, phosphorites and gas hydrates. The data of every type of marine mineral resources described above are distributed among five units and several blocks. The units and blocks are described below:

Jan 1, 2000

By Carsten Rühlemann, David Friedmann, Bernd Friedrich, Thomas Kuhn

"This paper explores the option of direct reduction smelting of the nodules from the German license area in the equatorial NE Pacific in a submerged arc furnace (SAF). An optimized slag design is proposed to separate the larger Mn-bearing stream from the valuable metals (i.e. Ni, Cu, Co, Mo). The slag optimization allows a maximum of Mn to be retained in the manganese-silicate slag on the one hand and a maximized metal recovery in a FeNiCuCo alloy on the other. This way, the goal is to make use of the complete nodules (“zero-waste”) instead of extracting only the metals Ni, Cu, and Co, which make up about 3 wt%. The process closely relates to the “Inco Process” by the Ocean Management Inc. (OMI) of the late 1970s, which was a consortium of INCO (International Nickel Company, CAN; today Vale Canada), Preussag AG & Metallgesellschaft AG (GER), DOMCO (JPN), and Sedco (USA). However, the manganese containing slag is investigated in more detail to recover FeMn, FeMnSi and/or SiMn. To optimize the process modern tools such as thermo-chemical modeling in FactSage™ have been used. [1,2]Polymetallic deep-sea manganese nodules may offer a decreased dependency of raw material imports for Germany and the EU. Currently, four European countries (United Kingdom, Belgium, Germany, and France and an Eastern European consortium (InterOcean Metal)) hold exploration licences for these nodules in international waters in the equatorial NE-Pacific. The license areas each cover 75 000 km2 of the seafloor and are located in the Clarion Clipperton Fracture Zone (CCZ) south east off Hawaii at water-depths between 4000 and 6000 m. The nodules may be used as a resource for industrially important metals such as Cu, Ni, Mn as well as for technology metals like Co, Mo, V and Zn. The average chemical composition of nodules from the German license area is presented in Table 1. [3,4]"

Jan 1, 2017

By Carl L. Kaiser

This abstract discusses selected recent technology developments at the Deep Submergence Lab at the Woods Hole Oceanographic Institution aimed at fundamentally changing the nature and scope of AUV operations in the deep ocean. The Autonomous Underwater Vehicle (AUV) Sentry is described in its current configuration with discussion of emerging capabilities. Telepresence enhanced AUV operations are discussed including moving both operations and data processing personnel off the vessel. Autonomous Surface Vessel (ASV) aided AUV operations are discussed including recent experiments where an ASV provided both navigational aiding and a satellite based relay for acoustic communication of telemetery and mission redirection. New flexible communications strategies to perform intervention and manipulation tasks from an untethered vehicle are discussed. The abstract concludes with a brief discussion of industrial collaborations, including the newly launched Center for Marine Robotics.

Sep 14, 2011

By Burrows D. R.

Metal-rich sediments precipitating from hot saline brine pools were first discovered in 1965 in the Red Sea.1-2 The subsequent discovery of high temperature black smokers and associated massive sulphides in 1977 at latitude 21oN on the East Pacific Rise3 came more as a confirmation than a revelation. Formation of massive sulphides through precipitation from circulating sea-water had been predicted by Oftedahl in 19584, and the mechanisms well evaluated in basaltic-hosted Cyprus-type 5 and in Kuroko-type deposits.6,7 Sea-floor exploration from 1977 through the 1980?s in sediment-starved mid-oceanic ridge (MOR) settings had little impact on land-based exploration. This is primarily because: a) MOR spreading centres were recognized as poor analogies to even Cyprus-type basalt-hosted deposits; b) their preservation potential was limited due to rapid oxidation and c) the metallic deposits studied were small and therefore not directly comparable to the far larger ore bodies on land. More recently underwater mineral deposit research has focused in a variety of back-arc environments associated with felsic submarine volcanism, environments more similar to those predicted for the formation of Kuroko-type deposits (e.g. Okinawa Trough, 8 Lau Basin, 9 Manus Basin, 10 Aeolian arc, 11). Most studies, while scientifically interesting, were hampered, in general, by a lack of good descriptive data, a reliance on isolated grab samples, and a lack of sub-surface observations. This research has therefore had only limited direct impact on exploration strategies with the possible exception of research conducted in areas where faulting provided enhanced vertical exposures. 12

Jan 1, 2011

By K. T. Damodaran

The Chavara and Manavalakurichi placer deposits have been known since a long time for their rich reserves of heavy minerals like ilmenite, rutile, monazite etc. While detailed work has been conducted on the mineralogy and texture of the bulk placer sediments, reports on the detailed investigations on individual minerals are relatively scanty. Though, limited work pertaining to the chemistry of ilmenite has been carried out by Nair et al (1995) and Ramakrishnan et al (1997), a comprehensive study of the weathering patterns of ilmenite along the longitudinal and vertical profiles has not been, so far, undertaken. Data on the microscopic analysis of ilmenite from the southwest placers, too, is sketchy. The present work deals with the variation of the weathering undergone by ilmenite in the southwest placer deposits based on chemical and mineralogical analyses.

Jan 1, 2002

By Sebastian Ernst Volkmann, Felix Lehnen

"INTRODUCTIONWhile today’s mine planning of land-based ore deposits follows methods, which are well established, mining standards for the deep-sea have not established. Having gained a basic understanding of geological settings, there is still a lack of tools and methods to assess and plan future mining projects in the deep-sea. In the framework of the “Blue Mining” research project (2014-2018) technologies and methods for the exploration and exploitation of deep-sea minerals are developed that will bring deep-sea mining a step closer. The “Blue Mining” project receives funding from the European Commission (EC; Framework Programme 7; GA No. 604500) and addresses all aspects of the value chain in the field of deep-sea mining. The project philosophy is that deep-sea mining is planned and executed in the most responsible manner: Ensuring societal benefits and profitability at acceptable resource utilization and lowest possible environmental footprint (Volkmann 2014).Inspired by the high-tech farming industry, a concept to mine seafloor manganese nodules (SMnN) was developed. Mining is considered to be similar to the potato harvest on land (Figure 1), which involves mining a field partitioned into long, narrow strips (Volkmann and Lehnen 2017). The proposed mining system composes of one mining support vessel (MSV), one or two self-propelled, crawler-type seafloor mining tools SMT(s) and different types of underwater vehicles. The MSV follows the mining route of the SMT(s), picking up the about potato-sized nodules from the seafloor. The ore is pre-processed in situ and is lifted on board of the MSV, where the ore is dewatered and loaded onto bulk carriers for transport to the purchaser. Processing and refining of ore is not subject of “Blue Mining” research."

Jan 1, 2017

By Thomas Kuhn

The detailed investigation of both active and inactive submarine hydrothermal systems has gained tremendous progress during the last decades because of the increasing usage of remotely operated vehicles (ROV) as well as manned submersibles. Special aspects like the targeted sampling of chimney structures and vent fluids as well as the analysis of zonations of near-surface structures like sulfides mounds was only possible with the usage of such vehicles. However, the availability of such vehicles has been very limited because of the few number of deep-water ROVs and manned submersibles which need both a trained crew and a special research vessel. This was especially true for the German science community which did not have such devices at its disposal until recently. With the ROV QUEST 5 which is based at the University of Bremen (c/o. Prof. Dr. G. Wefer, Dr. V. Ratmeyer) this major drawback has now been eliminated.

Jan 1, 2003

By Sven Petersen, Berit Lehrmann, Bramley J. Murton, Paul A. J. Lusty

"INTRODUCTIONToday’s metal mining focusses on land based ore deposits which only consider one third of the Earth’s surface. Through an increasing global demand of strategic metals used in the electronic and green industry (Zepf et al. 2014), ‘uneconomic’ sites of lower grade in more technical challenging grounds such as greater depth and/or more remote areas are developed by the mining industry often resulting in higher environmental impact. However, considering the steady growth of the Earth population a shortage of certain metals may occur (Krausmann et al. 2009). In 2010, the United Nations allowed commercial exploration for seafloor massive sulphides (SMS) in international waters with currently six contractor licenses being granted.Although the number of discovered vent sites has steadily increased since the first discovery of hydrothermal venting at the Galapagos Rift in 1977 (Corliss et al. 1979) with more than 600 sites being known today, their economic potential is poorly constrained. So far Nautilus Minerals Inc., a Canadian mining company, is the only company having conducted a NI 43-101 resource estimate for the Solwara site, located in the territorial waters of Papua New Guinea. Other studies using bulk geochemical data from 95 sites published in literature do exist (Hannington et al. 2011, Monecke et al. 2016) suggesting a global resource potential for today’s known SMS deposits of 600 million tons with a median grade of 3 wt.-% copper, 9 wt.-% zinc, 2 g/t gold and 100 g/t silver. However, the geochemical data being used originated mainly from easily recoverable, mainly non insitu surface grab-samples and are under current mineral resource classification schemes such as JORC code or NI 43-101 not even accepted for resource estimations. Furthermore surface samples such as high-temperature sulphide chimney and talus material are not representative for the entire deposits with information regards thickness and continuity of individual sulphide layers obtained through drilling being scarce. In addition, it remains unknown what geological processes occur once hydrothermal activity ceases and whether metal tenor becomes enriched, depleted or disappears."

Jan 1, 2017

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 V. K. Banakar

The occurrence of hydrogenous ferromanganese encrustations (Fe-Mn crusts) on the Cretaceous age Afanasiy-Nikitin Seamounts (ANS) in the eastern Equatorial Indian Ocean (EEIO) was first reported by Banakar et al. (1997, Marine Geology). The major element composition of the samples from the upper flank of the ANS (~1650 m water depth) indicated enrichment of Co up to 0.9 % (Parthiban and Banakar, 1999, Indian Mineralogist). Subsequently a project supported by the Department of Ocean Development to explore the ANS for Co-enriched Fe-Mn crusts was launched in 2002 by the National Institute of Oceanography. Sampling at regular depth intervals along two transects on the slopes of the northern elevated region of the ANS was carried out. The Fe-Mn oxide deposition is evident on almost all types of substrates viz., basalts, conglomerate limestone, fossil corals etc., and the thickness of the oxide layer varies from a patina to 7 cm. The Fe-Mn crust growth is evident only above a water depth of 3200 m, below which semi-lithified carbonate ooze is dominant. The ANS Fe-Mn crusts from all the water depths exhibit Mn/Fe < 1.5 suggesting pure hydrogenetic accumulation of metal-hydroxides. Bulk sample Ce-contents for a few selected depth-representative samples are remarkably high, up to 3700 ppm with an average of ~2500 ppm. The positive Ce-anomaly decreases from ~8 at 1600 m depth to ~1.6 at 3200 m depth, which is in contrast to the modern dissolved oxygen depth-profile in the region. This observation suggests that major time-period of the Fe-Mn crust accretion history is dominated by ambient waters with lower-oxygen at deeper depths than at the intermediate depths. This in turn probably suggests a major reorganization in the deep-intermediate hydrography of the region in the past.

Jan 1, 2005

By Boris Broere, Wiebe Boomsma, Pieter Lucieer

"The Blue Nodules project started February 2016 as part of the EU Horizon 2020 subsidy program. Blue Nodules aims at developing a sustainable deep sea mining system for the harvesting of polymetallic nodules from the sea floor. Blue Nodules is closely related to the Blue Mining and Midas projects, both EU subsidized projects. Blue Mining mainly concerned the development of technical capabilities to adequately and cost-effectively discover, assess and transport deep sea mineral deposits up to 6,000 m water depths. The MIDAS project - Managing Impacts of DeepseA reSource exploitation - was a multidisciplinary research programme investigating the environmental impacts of extracting mineral and energy resources from the deep-sea environment.The Blue Nodules project is divided in seven work packages defined to develop mining equipment and process equipment, to assess and integrate environmental, economic and technological aspects and to assess and minimize the environmental impact of mining polymetallic nodules.This abstract will address part of the work performed in the second work package called: ‘Subsea harvesting equipment and control technology’. The main topic addressed will be the development of a propulsion system to manoeuvre the harvesting system. The propulsion system will be developed with full incorporation of economical and compliance requirements and to have a minimal environmental impact.SummaryBased on information gathered in the 70’s during the first studies into polymetallic nodules mining and more recent data and developments, an initial full scale design of the propulsion system is developed. The largest challenge for the propulsion of a deep sea mining vehicle is to drive on the soft sediments associated with these deep sea environments. A short summary of the initial design criteria is given below."

Jan 1, 2017

By Gale L. Hubred

Kennecott?s Ledgemont Laboratory developed the Cuprion Process to recover metal values from manganese nodules in the early 1970s. A reducing leach of monovalent cuprous ion attacks the manganese oxide matrix, converting the manganese dioxide to manganese carbonate and releasing the copper, nickel, cobalt, and zinc as ammine complexes. Cuprous ion is generated by contacting leach liquor with carbon monoxide. Copper, and nickel, are recovered by solvent extraction and electrowinning. Cobalt is precipitated as cobalt sulfide and recovered as cobalt powder. Manganese, molybdenum, and zinc can be recovered optionally but have not been included in this process. Kennecott authors have described aspects of the process, but the Cuprion process has not been revealed except in patents. Tables are included for capital and operating costs and revenue. Even though economic recovery of nodules is not anticipated in the foreseeable future, some of the process steps may have application in other places. The Ledgemont Laboratory was a unique operation we think worth documenting. The report is based upon work done up until the mid 1970s. The report represents the work of the entire Kennecott nodule team. It is this author?s intention to save this result and credit the work of that nodule team. The paper is dedicated to the memory of Dr. Herbert Barner, a key member of the team who died in 2003.

Jan 1, 2005

By Henk van Muijen, Jan Willem de Wit

1.1 Profile IHC Holland Merwede IHC Holland Merwede is world market leader in the construction of specialist dredging equipment and large-size custom-built offshore vessels. The clients of IHC Holland Merwede include major dredging companies, oil and gas exploration groups, offshore contractors and government authorities. IHC Holland Merwede is focused on the continuous development and innovation of technology to ensure maximum performance and efficiency of its designs and constructions supplied to the dredging and offshore industries. IHC Holland Merwede has a staff of approximately 2,000 at its locations in Hardinxveld- Giessendam, Kinderdijk, Krimpen aan den IJssel, Sliedrecht, Delfgauw, Goes, Hendrik Ido Ambacht and Heusden. Besides worldwide representations, IHC Holland Merwede has branches in China, Houston (USA), India, the Middle East and Singapore. 1.2 Mission IHC Holland Merwede’s mission is to optimize value by anticipating and satisfying its client’s requirements, with efficient advanced technology solutions. The group’s aim is to be consistently at the forefront of technology development, in the business sectors in which it operates.

By Cornel E. J. de Ronde, Alexander Malahoff

Six active Kermadec arc submarine volcanoes, located between 34°S and 36°30&apos;S were mapped and sampled between April and July 2005, using submersibles Pisces V and Pisces IV aboard the mothership R/V Ka&apos;imikai-o-Kanaloa. The purpose was to study the relationship between hydrothermal activity, formation of hydrothermal mineral deposits, structure of the volcanoes, and the biodiversity of life associated with the hydrothermal vents. Of the volcanoes examined, all showed evidence of hydrothermal activity, including metal-rich plumes and helium anomalies. Only two of the volcanoes, namely Brothers and Clark, showed chimneys and surficial polymetallic sulfide deposition. Hydrothermal venting at a water depth of approximately 1,650 meters near the base of the northwest caldera wall of Brothers volcano has produced a field of chimneys, up to seven meters high and discharging black smoker venting. Temperatures up to 300°C were measured from the active vents. Clark volcano has a double cone summit at a water depth of 875 meters. The shallowest cone has a near-summit hydrothermal vent field with five-meter tall venting chimneys with smaller structures around the periphery. Water temperatures of 200°C were recorded for these chimneys.

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 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