Question to the Department for Business and Trade:

To ask His Majesty's Government what is the expected (1) process, and (2) timeframe, for any future decisions on continued sponsorship of UK Seabed Resources Limited’s two International Seabed Authority exploration contracts.

UK Seabed Resources Limited has two International Seabed Authority exploration contracts, UKSR1 and UKSR2. These have an initial period of 15 years with the contract period of UKSR1 ending in 2026 and UKSR2 ending in 2027.
The UK Deep Sea Mining (Exploration Licences) Regulations 1984 states that exploration licences can be extended for successive periods of 5 years. Any decisions on the future of these licences will be made in consultation with the company and other relevant UK Government departments. The Department for Business and Trade will ensure a robust process is in place and that any decisions made are in line with statutory requirements.