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Abstract

Common Heritage of Mankind (CHM) is a principle in which all entities can manage the natural resources that exist in the world and must share the benefits of their exploitation with other entities for the common good. However, the principle of CHM has not been structurally and legally regulated in space. The enthusiasm about ‘infinite natural wealth’ that space and seabed mining can produce, particularly in developing countries, means that they can benefit from the activities carried out in order for their regional and mineral resources to be declared as the heritage of mankind. The hypothesis obtained from this research will explore the principles of rules for the management of exploration and exploitation in general of natural resources by international enterprise within the CHM regime and analyze the need to establish management enterprise and international authorities/ organization to manage natural resource exploitation activities as a common heritage. Finding and formulating the urgency of the formation of a business entity and finding a suitable formulation of principles for managing the results of natural resource exploitation activities with international organizations in CHM for international enterprise as business actors who are obliged to have ideas about the mechanisms and procedures in managing Space that has brought out for the exploration and exploitation of the common heritage of mankind. The idea in the International Statute could be the basis for adding a new norm in international law.

References

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Legal Documents

United Nations Convention on The Law of The Sea, opened for signature 10 Decem- ber 1982, 1833 UNTS 397 (entered into forced 16 November 1994).

Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and Other Celestial Bodies [Outer Space Treaty], opened for signature 27 January 1967, 610 UNTS 205 (entered into force 10 October 1967).

General Assembly Resolution 51/122, Declaration on International Cooperation in the Exploration and Use of Outer Space for the Benefit and in the Interest of All States, Taking into Particular Account the Needs of Developing Countries, A/ RES/51/122 (13 December 1996).

Web Sources

International Seabed Authority. “Exploration Contracts.” Accessed 2 January 2023, https://www.isa.org.jm/deep-seabed-minerals-contractors.

International Seabed Authority. “The Mining Code.” Accessed 29 December 2022. https://www.isa.org.jm/mining-code.

Others

Shenoy, Amritha. Freedom of the Seas, International Law and the South China Sea Dispute, Center for International Legal Studies, Jawaharlal Nehru University, 2020.

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