On June 2, 1988, after six years of negotiations!, the Convention on the Regulation of Antarctic Mineral Resource Activities was successfully con cluded. With this Treaty (which was opened for signature from November 25, 1988 to November 25, 1989) another important dimension is added to the 2 Antarctic legal system • This system, so far, comprises the Antarctic Treat 3, y the Convention on the Conservation of Antarctic Seals4, the Convention on the Conservation of Antarctic Marine Living Resources (hereinafter 6 CCAMLR)5 and the Recommendations issued by the Antarctic Treaty Con sultative Meetings. The Convention will enter into force (Art. 62) on the 1 The negotiations have been analyzed by Christopher C. joyner, The Antarctic Minerals Negotiating Process, AJIL 81 (1987),888-905; Arthur Watts, Lessons to be Learned from the Mineral Resources Negotiations, in: Rudiger Wolfrum (ed. ), Antarctic Challenge III (Berlin 1988), 319-331, and R. Tucker Sculfy, The Antarctic Mineral Resource Negotiations: A Report, in: Thomas A. Clingan, Jr. (ed. ), The Law of the Sea: What Lies Ahead, Proceedings of the 20th Annual Conference of the Law of the Sea Institute (Honolulu 1986), 386-403. 2 This term is used in Art. 2 para. 1; as to the development of the Antarctic Treaty system see Finn Sollie, The Development of the Antarctic Treaty System, in: Rudiger Wolfrum (ed. ), Antarctic Challenge (Berlin 1984), 17-37, and R.

Introduction -- The current regime and United States policy for Antarctica -- The Convention on the Regulation of Antarctic mineral resource activities -- Ratification considerations -- The resource potential of Antarctica -- Environmental considerations -- Technology and economic considerations for oil development -- Technology and economic considerations for hard minerals development -- Implementation options.