The area on the Pacific seafloor, spanning six million square kilometres - a size comparable to the United States - already has 15 other countries and private companies vying for exclusive rights over certain parts.
The Cook Islands seabed minerals authority minister, Mark Brown, has been in Jamaica at the International Seabed Authority headquarters to work out the final issues related to the signing of the contract.
The government is looking at three areas, with a total of 75,000 square kilometres.