Tuvalu Seabed Minerals Act 2014

The Act is intended to provide for the sustainable management of Tuvalu's seabed minerals. It further regulates prospecting, exploration and mining activities within Tuvalu. The Act provides that all sovereign rights to the mineral resources contained in: the waters superjacent to the seabed and subsoil of Tuvalu’s territorial sea, Exclusive Economic Zone, and Continental Shelf are vested in the State to be managed on behalf of the people of Tuvalu. 

The objectives of the Act are: 

1. To establish a legal framework for the efficient management and development of Tuvalu’s Seabed Minerals.
2. To establish a legal framework for the sponsorship, and for the effective control, by Tuvalu of consultants to undertake Seabed Mineral Activities in the Area.
3. To provide that Seabed Mineral Activities within Tuvalu’s national jurisdiction, or under Tuvalu’s sponsorship in the Area, must be carried out in accordance with best international practice, and in a manner that is consistent with internationally accepted rules, standards, principles and practices, including Tuvalu’s responsibilities under the UN Convention on the Law of the Sea, and specifically Tuvalu’s duty to protect and preserve the Marine Environment.
4. To promote transparency in decision-making on matters concerning Tuvalu’s management of Seabed Mineral Activities.
5. To provide a stable, transparent and predictable regulatory environment for investors in Seabed Mineral Activities.
6. To secure optimum benefits, long-term economic growth and sustainable development for Tuvalu from the development of its Seabed Mineral sector, and to implement measures to maximize the benefits of Seabed Mineral Activities for present and future generations of Tuvaluans.