23 Feb 2012

Cook Islands gets multi million dollar offer from seabed miner

8:11 pm on 23 February 2012

The Cook Islands government says the Canadian miner, Endeavour, has offered it 45 million US dollars for a licence to explore the country's seabed to determine its mining potential.

The minister of deep-sea mining, Tom Marsters, told parliament this week that the offer is on the table.

He says the company is promising an upfront payment of 12 million dollars with the balance to cover the company's research costs.