675 
This is not to say that the development of the minerals of the deep 
ocean floor beyond the continental margins will not occur. But the as- 
sertion,* frequently repeated, that some six billion dollars of gross annual 
income from undersea mineral development could accrue by 1975 to 
the United Nations or other international agency which might control 
access to the ocean floor is a wholly unsupported factual assumption, 
and an unacceptable premise for urgency in devising a regime to govern 
the deep ocean floor. It is significant that this estimate was based in 
part on the assumption that the sovereign rights of coastal nations should 
terminate at the 200 meter isobath, or at 12 miles from the nearest 
coast. As we have indicated, this would require agreement of the coastal 
nations to relinquish their exclusive rights in the minerals of the sub- 
merged continental land mass seaward of the 200 meter isobath, now 
recognized in them by the Convention on the Continental Shelf. As 
coastal nations comprise five-sixths of the membership of the United 
Nations, this does not seem a viable premise, quite aside from the 
illusory amount associated with it. 
While it thus appears that there is no precipitate necessity for the 
structuring of a regime to govern the development of the minerals 
beneath the oceans seaward of the existing mineral jurisdiction of the 
coastal states, it is appropriate to recognize the necessity for studying 
and agreeing on a formulation of international legal principles based on 
existing customary international law which will encourage exploration 
and protect exploitation of the resources of the deep sea floor. 
In the meantime, such initial mining operations as may occur in 
the deep ocean are unlikely to be the occasion for conflict which can- 
not be disposed of satisfactorily by available international legal prin- 
ciples and institutions. Deferment of attempted alteration of the regime 
has also the great virtue, surely to be considered an important objective, 
of delaying action until the dimensions of the problem are far more 
clearly apprehended than is presently the case. Experience gained with 
exploitive operations within the area of coastal control may well furnish 
us with the guidelines by which problems in the deeper regions beyond 
may be resolved in accord with the common interests of all. 
2. Possible regimes or arrangements to control 
mineral development of the deep ocean floor 
In view, however, of the very long time which will be required, or 
should be required, for negotiating a new international agreement for 
* Statement of the Ambassador of Malta, H. E. Dr. A. Pardo, United Nations 
General Assembly, November 1, 1967. 
