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Clean receipts from development
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Pure inflows from development - means the product of the contractor's pure inflows by the ratio between the expenditures for exploration in the mining sector and all the contractor's expenditures for exploration. If the contractor is engaged in the development, transportation of polymetallic nodules, as well as industrial production mainly of three finished metals, namely cobalt, copper and nickel, the amount of the contractor's pure inflows from development shall be not less than 25 percent of the pure inflows. Provided that subpoint "n" is complied with, in all other cases, including cases where the Contractor is engaged in the development, transportation of polymetallic nodules, as well as industrial production mainly of four finished metals, namely cobalt, copper, manganese and nickel, the Authority may establish appropriate lower limits in its regulations, rules and procedures applying the same proportionality formula used for determining the 25 percent lower limit for three metals1.
United Nations Convention on the Law of the Sea, as amended on 1 December 1997, article 13-2. ↩
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