A new independent study by Dr Harvey Mpoto Bombaka (Centro Universitário de Brasília) and Dr Ben Tippet (King’s College London), commissioned by Greenpeace International, reveals that current International Seabed Authority revenue-sharing proposals would return virtually nothing to developing countries — despite the requirement under the UN Convention on the Law of the Sea (UNCLOS) that deep sea mining must benefit humankind as a whole.
Instead, the analysis shows that the overwhelming economic value would flow to a handful of private corporations, primarily headquartered in the Global North.

Download the report:

Equity, Benefit-Sharing and Financial Architecture in the International Seabed Area

Executive Summary: Equity, Benefit-Sharing and Financial Architecture in the International Seabed Area

https://www.greenpeace.org.au/greenpeace-reports/equity-benefit-sharing-and-financial-architecture-in-the-international-seabed-area/

SYDNEY/FIJI, Thursday 26 February 2026 — New independent research commissioned by Greenpeace International has revealed that Pacific Island states would receive mere thousands of dollars in payment from deep sea mining per year, placing the region as one of the most affected but worst-off beneficiaries in the world.

The research by legal professor Dr Harvey Mpoto Bombaka and development economist Dr Ben Tippet reveals that mechanisms proposed by the International Seabed Authority (ISA) for sharing any future revenues from deep sea mining would leave developing nations with meagre, token payments. Pacific Island nations would receive only USD $46,000 per year in the short term, then USD $241,000 per year in the medium term, averaging out to barely USD $382,000 per year for 28 years – an entire annual income for a nation that is less than some individual CEOs’ salaries. Mining companies would rake in over USD $13.5 billion per year, taking up to 98% of the revenues.

The analysis shows that under a scenario where six deep sea mining sites begin operating in the early 2030s, the revenues that states would actually receive are extraordinarily small. This is in contrast to the clear mandate of the United Nations Convention on the Law of the Sea (UNCLOS), which requires mining to be carried out for the benefit of humankind as a whole.[1] The real beneficiaries, the research shows, would be, yet again, a handful of corporations in the Global North.

Head of Pacific at Greenpeace Australia Pacific Shiva Gounden, said:
“What the Pacific is being promised amounts to little more than scraps. The people of the Pacific would sacrifice the most and receive the least if deep sea mining goes ahead. We are being asked to trade in our spiritual and cultural connection to our oceans, and risk our livelihoods and food sources, for almost nothing in return.

“The deep sea mining industry has manipulated the Pacific and has lied to our people for too long, promising prosperity and jobs that simply do not exist. The wealthy CEOs and deep sea mining companies will pocket the cash while the people of the Pacific see no material benefits. The Pacific will not benefit from deep sea mining, and our sacrifice is too big to allow it to go ahead. The Pacific Ocean is not a commodity, and it is not for sale.”

Using proposals submitted by the ISA’s Finance Committee between 2022 and 2025, the returns to states barely register in national accounts. After administrative costs, institutional expenses, and compensation funds are deducted, little, if anything, remains to distribute [3].

Author Dr Harvey Mpoto Bombaka of the Centro Universitário de Brasília said:

“What’s described as global benefit-sharing based on equity and intergenerational justice increasingly looks like a framework for managing scarcity that would deliver almost no real benefits to anyone other than the deep sea mining industry. The structural limitations of the proposed mechanism would offer little more than symbolic returns to the rest of the world, particularly developing countries lacking technological and financial capacity.”

The ISA will meet in March for its first session of the year. Currently, 40 countries back a moratorium or precautionary pause on deep sea mining.

Gounden added: “The deep sea belongs to all humankind, and our people take great pride in being the custodians of our Pacific Ocean. Protecting this with everything we have is not only fair and responsible but what we see as our ancestral duty. The only equitable path is to leave the minerals where they are and stop deep sea mining before it starts. 

“The decision on the future of the ocean must be a process that centres the rights and voices of Pacific communities as the traditional custodians. Clearly, deep sea mining will not benefit the Pacific, and the only sensible way forward is a moratorium.”

—ENDS—

Notes

[1] A key condition for governments to permit deep sea mining to start in the international seabed is that it ‘be carried out for the benefit of mankind as a whole’, particularly developing nations, according to international law (Article 136-140, 148, 150, and 160(2)(g), the UN Convention on the Law of the Sea).

For more information or to arrange an interview, please contact Kimberley Bernard on +61407 581 404 or kbernard@greenpeace.org

Pacific nations would be paid only thousands for deep sea mining, while mining companies set to make billions, new research reveals

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