Sunday 9 July threatens to be a momentous day for the global economy, one that marks the beginning of the biggest gold rush in history, and one that could lead to unprecedented ecological damage. Yet few people seem to be taking much notice. The British government has been silent.
To understand the impending drama, a little history is required. In 1982, after 25 years of torturous negotiations, the United Nations passed Unclos (the United Nations Convention on the Law of the Sea). It involved the biggest enclosure in history, turning more than 138m sq km (53m square miles) of seabed into national exclusive economic zones (EEZs) available for exploitation by coastal countries.
