Asian Pacific Marine Minerals and Industry Structure

Abstract

Eventual development of marine minerals potential in the Asian Pacific would likely draw on the technology, skills, and experience of the emerging international seabed mining industry. As a result of strategic behavior by its firms, this small-numbers industrial "strategic group" has created a level of capacity for seabed mining exploration and research and development (R&D) that far exceeds the near-term level of activity expected in seabed mining. The paper reports on the nature of preproduction industrial structure (or "protostructure") in seabed mining and draws implications for efforts to develop the resource potential of Asian Pacific marine minerals. Seabed minerals exploration and R&D services might be offered to Asian Pacific nations at bargain prices (below unit cost) by firms with first-starter advantages in the emerging industry. However, cautionary notes are included about constraints on the economic potential of the region's deep-sea minerals such as manganese nodules, polymetallie sulfides, and cobalt crusts.Environmental Economics and Policy, International Relations/Trade, Resource /Energy Economics and Policy,