Deep Seabed Hard Minerals Act

[AI summary unavailable — showing source text] Deep Seabed Hard Minerals Act - Sets forth the findings of Congress and the purposes of the Act. Defines the terms used in the Act. Declares that, except as authorized pursuant to the provisions of this Act or under a treaty ratified by the United States, no person subject to the jurisdiction of the United States shall engage directly or indirectly in the development of hard mineral resources of the deep seabed. Authorizes the Secretary of the Interior to accept applications from and to issue licenses to eligible applicants upon tender of a fee of $50,000 for the development of hard mineral resources of the deep seabed. Sets forth the provisions for the issuing of such licenses. Declares that in no event shall any license under this Act authorize the commercial recovery of such resources prior to January 1, 1976, and that except to the extent that such licenses are authorized pursuant to the provisions of an international agreement establishing a regime for the development of mineral resources of the international seabed area beyond the limits of coastal State territorial or resource jurisdiction, no licenses shall be issued under this Act subsequent to the ratification by the Unit…