Seafloor Real Estate Up For Grabs

Several nations, including the US, Russia, Norway, Denmark and Canada, have begun extensive research regarding the arctic sea floor. The Lomonosov Ridge has recently come under dispute after Russia began taking steps toward claiming the ridge as part of its boundaries. Several months ago Russia submitted an initial request to the United Nations, but were turned away due to a lack of supporting evidence. What makes this such an important and controversial issue is the fact that by claiming the Lomonosov Ridge, Russia, or whichever nation manages to claim it, will also gain the rights to the mineral rich seafloor that goes along with it. But in order to gain the rights to that real estate, a nation must prove that the ridge is a direct extension of its continental shelf. Russia has declared that it plans to resubmit its findings in 2014, after a much more extensive and well documented period of research.

http://www.upi.com/Top_News/World-News/2010/11/13/Russia-studying-arctic-to-bolster-claim/UPI-37651289671460/

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One Response to Seafloor Real Estate Up For Grabs

  1. kccarr says:

    This is a very interesting topic. It will be interesting to see what the results of the Russia’s findings are and if they turn out to be legitimate. Whoever claims those minerals will become a major player in today’s world.

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