The draft specifies that, when the moratorium expires, it may be lifted only with approval of two-thirds of the signatories. In Madrid, Spain, 39 nations reached a tentative compromise on updating the Antarctica Treaty by calling for a 50-year moratorium on mining and mineral exploration. The treaty was signed in 1959 but has been repeatedly amended since then. When the moratorium expires it may be lifted only with approval of two-thirds of the signatories. This agreement continues the 30-year Antarctic Treaty tradition of preserving Antarctica for scientific research and keeping it off-limits to military bases, commercial development and mining, which may prove more beneficial than digging up and selling off its resources.
In Madrid, Spain, 39 nations reached a tentative compromise on updating the Antarctica Treaty by calling for a 50-year moratorium on mining and mineral exploration. The treaty was signed in 1959 but has been repeatedly amended since then. When the moratorium expires it may be lifted only with approval of two-thirds of the signatories. This agreement continues the 30-year Antarctic Treaty tradition of preserving Antarctica for scientific research and keeping it off-limits to military bases, commercial development and mining, which may prove more beneficial than digging up and selling off its resources.