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Strategies & Market Trends : Ride the Tiger with CD
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To: Louis V. Lambrecht who wrote (22496)12/1/2004 2:17:18 PM
From: hank2010  Read Replies (1) of 312876
 
"Question is: is the mining industry short-sighted and only explores above water?,/i>"
They are mining diamonds off of the coast of Namibia. Nova Scotian coal mines (Cape Breton) extend for miles out under the Atlantic. I have seen many proposals to try and mine manganese nodules off of the ocean floor at great depths using bucket line rigs and suction/pumping slurry pipe config.

One of the real hang-ups was the law of the sea conference, resulting in a consensus that "we do not want evil mining companies polluting the oceans of the world". Who owns the stuff after you get out more than 12 miles? What mining company would want to try and get a permit through the United Nations? The delays would last for several generations.
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