Brazil Applies for Approval of Plan of Work for Exploration for Cobalt-rich Ferromanganese Crust

On 31 December 2013, the Authority received an application for approval of a plan of work for exploration for Cobalt-rich Ferromanganese Crust in the Area submitted by Companhia de Pesquisa de Recursos Minerais (CPRM), which is a Brazilian State Enterprise. The application is sponsored by the Government of the Federative Republic of Brazil.

The application area is in the Rio Grande Rise and the applicant has elected to offer an equity interest in a joint venture arrangement with the Enterprise in lieu of a reserved area.

In accordance with the Regulations on Prospecting and Exploration for Cobalt-rich Ferromanganese Crust in the Area, the members of the Legal and Technical Commission will be notified of the above application and consideration of this application will be placed on the agenda of the Commission at its next meeting, which is scheduled to commence on 3 February 2014.