Under the United Nations convention on the law of the sea, any resources beyond the 200-mile limit median line were declared the common heritage of
mankind. One must be a signatory to the UN convention to be able to apply to the ISA for a licence. We, as a signatory to UNCLOS, are in the best position to apply for the contract with the ISA on behalf of one of our companies because we can then apply the most stringent and best environmental conditions.