02/10/2020
Colloquium Series Speaker Kerry Krutilla
The cumulative extraction of terrestrial mineral deposits has lead the mining industry to begin exploring seabed resources. The prospect of commercialized seabed mining poses major regulatory challenge for the International Seabed authority and countries with mineral resources in their coastal jurisdictions. The EU and the World Bank have initiated projects to
build capacity to manage seabed mining activities. Of particular concern is the nature of the economic evaluation that should be required for the assessment of mining leases. This study reviews the academic literature on economic decision-making under deep-uncertainty, and makes recommendations for incorporating precautionary measures within the benefit-cost analysis of seabed mining operations.
