Tonga: Tonga Energy Profile 2012
2012/04/05
Tonga Energy Profile 2012
Potentially, deep sea mineral extraction is another way for Tonga to derive income from the extensive exclusive economic zone surrounding its islands. Sitting within the rich mineral arc that runs from New Zealand through the Solomon Islands and Papua New Guinea, Tonga’s sea bed could contain significant deposits of copper, gold, zinc and silver.
Three companies have been granted licenses to explore the sea bed within Tonga’s waters, the most notable of which is Nautilus Minerals Inc, which is already operating in Papua New Guinea (see box). While the development of a new industry based on mineral wealth from the sea floor offers a tantalising prospect, much exploration and testing still needs to be done before this becomes a reality. In the meantime, Tonga is already benefitting through the payment of exploration license fees and the use of local services.
- Tonga News
-
- AFGHANISTAN: Higher earning Why a university degree is worth more in some countries than others
- AFGHANISTAN: Revised IMF forecasts signal gloom on global economic outlook
- AFGHANISTAN: Oxfam Study Finds Richest 1% Is Likely to Control Half of Global Wealth by 2016
- TONGA: Polynesian pain to continue
- Trending Articles
-
- CANADA: NAFTA renegotiation could be double-edged sword
- CHINA: UN environment chief urges China to do more on climate
- YEMEN: Cholera epidemic reaches half million mark in war-torn Yemen
- JAPAN: Taro Kono starts well as Japan's foreign minister
- YEMEN: Yemen's central bank floats exchange rate amid deepening crisis
- CHINA: China, Pakistan vow to further deepen bilateral pragmatic cooperation