International Sea Bed Authority (ISA)

 ISA is an intergovernmental body based in Kingston, Jamaica, that was established to organize, regulate and control all mineral-related activities in the international seabed area beyond the limits of national jurisdiction.

 UNCLOS defines the international seabed area—the part under ISA jurisdiction—as ―the seabed and ocean floor and the subsoil thereof, beyond the limits of national jurisdiction.

 It was established by the Law of the Sea Convention.

 It has obtained its observer status in the United Nations.

 The Authority operates by contracting with private and public corporations and other entities authorizing them to explore, and eventually exploit, specified areas on the deep seabed for mineral resources essential for building most technological products.

 The Convention also established a body called the Enterprise which is to serve as the Authority’s own mining operator, but no concrete steps have been taken to bring this into being.

 With a 15 year contract period ISA has allowed 8 players to exploit sea bed for polymetallic nodules.

 The 8 contractors are India, Germany, Russian Federation, Interoceanmetal Joint Organization (IOM) (Bulgaria, Cuba, Slovakia, Czech Republic, Poland and Russian Federation), Republic of South Korea, China, Japan, and France.

 In 2008, the Authority received two new applications coming for the first time from private firms in developing island nations of the Pacific like Nauru and Tonga.

 India is exploiting polymetallic nodules in the Central Indian Basin of the Indian Ocean.