Deep Sea Mining and the Logic of Contracting Around the Commons

The U.S. and Japan signed a Memorandum of Cooperation on deep-sea mineral resource development, bypassing the International Seabed Authority (ISA) which governs the deep seabed under the United Nations Convention on the Law of the Sea (UNCLOS). The U.S., not a UNCLOS signatory, relies on its 1980 Deep Seabed Hard Mineral Resources Act, while Japan reaffirmed its commitment to the ISA process. The agreement raises questions about UNCLOS's viability as countries seek to exploit deep-sea resources.