158 



opportunities for resource exploitation. The importance of 

 these as yet unmade discoveries can not, of course, yet be 

 assessed. 



32. It is my understanding that nickel, copper, cobalt 



and manganese are the priricipal'metals to be found in the seabeds. 



... Is it true that if U.S. companies began mining these 

 metals within the next several years, the U.S. could become 

 a net exporter of these materials by the year 2000. 



A. It is risky to make predictions based on multiple 



variables and contingencies. However, I think it is safe to 



say that we could easily become net exporters of cobalt, 



could near self-sufficiency in copper on a net basis, and 



reduce import dependence on nickel to a significant degree. 



Predictions about manganese are even more difficult because 



the plans of the seabed mining consortia are unclear with 



respect to production of " manganese. 



33. What has been the reaction of the American deep sea 

 mining industry to this latest round of negotiations? 



A. The industry in general welcomed our decision to 



review the current text. Current plans do not call for 



substantial investments to be made in the next few years, so 



the industry is happily willing to wait a little longer for a 



seabed mining regime that is workable and will encourage 



investment. They have deep concerns relating to the current 



text which need to be met, and would not have been pleased 



to see negotiations come to a close if the possibility still 



existed that further negotiation in UNCLOS or in another 



forum could produce a substantially better result. 



