22 May 2017

Mining company paying holding rights for Cooks seabed area

From , 5:03 am on 22 May 2017

The Cook Islands government has been earning $US8000 a month as part of a five year deal with a US mining company to hold an area of seabed for potential mining.

Ocean Minerals Limited is paying for holding rights to secure the area between Aitutaki and Penrhyn until they can raise $US20 million to explore the area.

Tim Glasgow spoke to Cooks' Seabed Minerals Authority Commissioner Paul Lynch.

Mining for copper under the sea

Photo: Nautilus Minerals