Tonga’s Ministry of Lands, Survey and Natural Resources presented the first draft of the Seabed Minerals Fund Regulation to representatives from line ministries and stakeholders at a consultation workshop.
Deputy Secretary of Natural Resources and Geologist Taniela Kula said the workshop aimed to share the first draft of the regulation with stakeholders.
“The first draft of the regulation has been completed so we are here today (Tuesday) to share it with stakeholders, government ministries, NGOs and private sectors for their comments and input.”
“Seabed mining and minerals are limited resources and if we continue to use the money collected from seabed mining, when minerals are gone all the income collected from it will be gone too. So this regulation is formed to secure the income from seabed mining and we will be able to invest the money somewhere far where we won’t be able to use it every time.”
“When the minerals are gone, the money that we invested from it will be useful for this generation and the next generation.”
Mr Kula stated that similar regulations have been implemented in developing countries around the world and also in the Pacific region.
“Countries that have implemented this kind of regulation have collected more money in a short period of time, which is a great example for us as we are one of the smallest countries with limited resources.”
“After today and the feedback we have received from the participants, we will have to consider it and redraft the regulation and there will be another consultation in the future. We hope for a more extensive consultation as many of the stakeholders did not make it to the workshop today.”
The Ministry of Lands, Survey and National Resources was assisted by a legal consultant, ‘Alisi Taumoepeau in drafting the regulation.
The drafting of the regulation was funded by Secretariat of the Pacific Community-EU under the Deep Sea Mineral project.