The “Investmentification” of Deep-Seabed Mining in the Area: How Investment Law Concepts Are Shaping the Law of the Sea

This article examines the growing influence of international investment law on the legal regime governing deep-seabed mining under Part XI of the United Nations Convention on the Law of the Sea (UNCLOS). It argues that this process of “investmentification” has emerged gradually through the interaction of treaty provisions, International Seabed Authority contractual practice, and national sponsorship agreements. While these developments enhance predictability for private operators, they also introduce new pressures on the regulatory discretion of the International Seabed Authority (ISA) and sponsoring states, raising questions about how stability commitments can be reconciled with the collective and environmental obligations embedded in the common heritage of humankind (CHM). By analyzing the legal architecture of UNCLOS, the evolution of ISA contracts, and the recent contractualization of sponsorship regimes, the article explores how investment law logics shape authority, risk allocation, and environmental governance in the Area, and considers how these dynamics might be aligned with the CHM principle.