The European Union is funding a drive to develop a regulatory system for sea bed mining in the Pacific by SOPAC, the Secretariat of the Pacific Community, specifically its Applied Geoscience and Technology Division. SOPAC’s avowed  purpose is to “help Pacific island people position themselves to respond effectively to the challenges they face and make informed decisions about their future and the future they wish to leave for the generations that follow.” However, critics claim that the EU’s own Communication on the Precautionary Principle will be violated by  the “reckless approach” now being advocated by the Secretariat.
Nautilus Minerals, mentioned in this posting, is a Canadian company listed on London’s Alternative Investment Market (AIM). London-listed Anglo American is a major shareholder.
See also:
SOPAC criticised as opposition to seabed mining grows in the Pacific
Milne Bay residents reject Nautilus
Seabed mining may destroy our livelihood
Put a stop on deep sea mining
PNG can eject Nautilus from its internal waters