The U.S. has more than half the world’s iron ore reserves, and it’s one of the world´s leading producers.
And despite the country´s relatively low levels of pollution, the iron ore is also among the dirtiest sources of energy.
But with only one mine, the American Minerals Council says that the country has yet to discover the rest of the reserves. That hasn´t stopped the American Mineralogists Association from pushing the government to bring in an iron deposit.
And now a new study finds that the U.N. Convention on the Law of the Sea may have an important role to play.
“I think the convention is a good idea because it establishes a framework that can support investment in iron mining,” said Steve Lohr, the association’s president.
The group argues that the Convention provides a safe, legal, and efficient way to extract resources from offshore waters, including copper, gold, and rare earth minerals.
The American Minerists Association is one of many organizations that are pushing the convention as an investment opportunity.
The Convention on Petroleum-Based National Security Technologies, or CPNSS, was approved by the U-N in 2002.
It allows countries to claim exclusive rights over resources located offshore.
Countries can also create mineral rights, which allow them to mine, export, or even mine minerals in their waters.
These rights are supposed to be used for environmental, economic, social, and cultural purposes.
But many argue that the convention has become increasingly outdated.
already has a large number of such rights.
And while it´s true that the United Nations Convention on International Trade in Endangered Species of Wild Fauna and Flora is still valid, the treaty has been weakened in recent years, with its emphasis on the need for a “global commons” to protect species in their natural habitats.
CPNS has also been criticized for its overly broad definition of resources.
For example, the Convention does not consider the existence of reserves for rare earth elements, which are a key component of the atomic bomb that the Soviet Union used to develop its nuclear weapons program.
Nor does it consider minerals that are critical for nuclear power, such as uranium.
CNG, as it is known, is an important source of iron, copper, and gold.
The United States has only one of these reserves, but it’s estimated that the other two are the equivalent of over 100,000 metric tons.
In 2011, the U and the U.-K.
signed the first international agreement on CNG mining, which required that mining companies use the existing CNG resources to make the necessary steel, iron, and zinc for their projects.
But that deal has been delayed.
In 2015, CNG Mining announced that it would abandon its mine in South Africa.
But the United Kingdom and France have since signed a separate agreement with the mining giant.
The other countries that signed the deal have a lot of work to do to find the remaining CNG deposits.
According to the American Geophysical Union, about one in four American mines are currently producing the minerals.
Lohar says that there are currently around 700 active mines worldwide.
“In the next 10 years, we may see a lot more activity in the United State, but the U–K.
and the French are the leaders in that respect,” he said.
But it’s unclear what will happen to the rest.
According the U‐K.
Ministry of Energy, it will be a couple of decades before the rest are developed, meaning that the government won´t be able to claim ownership of the mines, even if it manages to secure an investment.
“The government won’t own the mineral rights in the country, it won´ve had to rely on other sources of income,” Loha said.
The industry has been losing money, too.
Mining revenues have dropped by about 40 percent in the last decade.
Loughran, the CNG Association´s vice president, said that while it is not yet clear how much the mines will lose over the next decade, there are fears that mining in the Arctic will be abandoned.
“We don´t know if we can have a viable, profitable industry that can keep mining in that region of the Arctic, if we don´T have a significant deposit,” he told The Guardian.
In the meantime, he added, the industry is in a state of flux.
“If we are going to have to abandon mining operations in this area, we have to take a big gamble,” Loughr said.
“It has to be a big risk to start from scratch.”