The Council of the International Seabed Authority (ISA) concluded the second part of its twenty-ninth session, marking significant progress in the development of regulations for the exploitation of mineral resources in the Area. During this session, the Council, finalized the first reading of the consolidated text through Draft Regulations on the exploitation of mineral resources in the Area. These discussions covered crucial aspects such as closure plans, environmental monitoring and inspection mechanisms. Thematic discussions addressed several critical issues including equalization measures, underwater cultural heritage, environmental impact assessments and statements and environmental management and monitoring.

The Council approved a plan of work for the exploration for polymetallic sulphides; took note of the position of the Legal and Technical Commission on an application for the approval of a plan of work for exploration for cobalt-rich ferromanganese crusts; decided to submit the budget for the financial period 2025-2026 for Assembly’s approval; considered report of the Legal and Technical Commission where participants emphasized the need for increased transparency and accountability among contractors and made calls for the disclosure of contractors who failed to submit complete or adequate reports. The Council also commended significant progress made on threshold values and the development of a standardized approach for Regional Environmental Management Plans (REMPs). Focus was given to advancing the work on the standardized procedure for the development, review and approval of REMPs. The Council adopted a decision on the proposed standardized procedures for REMPs, marking a crucial step towards more effective environmental management in regional areas. The report from the Interim Director-General of the Enterprise was presented and reviewed by the Council, with strong support expressed for its activities and role in facilitating developing states' participation in exploration activities.

All discussions on the draft regulations took place in informal meetings from 15 to 31 July 2024, with the full participation of ISA member states and observers, in line with the roadmap approved by the Council in July 2023. The plenary of the Council held eleven informal meetings on the consolidated text. On 15 July 2024, thematic discussion on Equalization measures and on 19 July 2024, thematic discussion on underwater Cultural Heritage were held with the delegation of the Federated States of Micronesia. On 22 July 2024, the Informal Working Group on Institutional Matters held its Eighth Meeting discussing Effective control. On 24 July 2024, the Informal Working Group on the Protection and Preservation of the Marine Environment held its Eighth Meeting discussing two issues: a) environmental impact assessment/statement and b) electronic management and monitoring. On 26 July 2024, the Council took note of all oral reports by the facilitators and rapporteurs also of a list of intersessional work ahead for the remaining of the twenty-ninth session.

The issue of new roadmap for 2024-2025 was also considered and it was agreed that the deadline for written national proposals on the consolidated text would be 23 September 2024 and for joint written proposals, the deadline would be 01 November 2024. The Council forwarded to the Assembly a list of two candidates: Leticia Carvalho and Michael W. Lodge for consideration in the election for the post of Secretary-General.

The Council decided to hold the next council meeting (30^th) in March 2025.