The Vanuatu branch of the Bismarck Mining Corporation, says its exploration of the sea bed shows the country has good potential for seabed mining.
The company's director Harvey Cooke, says the company is taking a cautious approach to its explorations in Vanuatu but says a mine could be operational within a decade if a suitable deposit is found.
He applauded the Vanuatu government for its recent consultation meeting on sea bed mining which he says will help pave the way for the sector.
"If and when mining does commence, that the best possible legislation exists to give companies like ours some certainty as to how to move forward but also ensures that the worlds best practice is adopted for not only the environment but social and cultural issues that may be addressed."
Bismarck Mining's Harvey Cooke.