In earlier centuries ownership was determined by the range of canon fire, which was established at 3 miles, later as technology increased the boundaries were established at 50 miles, or to the outer reaches of the countries own continental shelf or 200 miles where it remains today. One of the fears now with environmental groups the world over is that with the increase in the advancement in technology, mankind is threatening to make extinct the very source of food and hard mineral resources they exploit. Mining companies left to police their own actions historically seem to care little for the long term and only for the immediate and self-serving reward. Let's all make a profit and and allow the entire world to reap the valuable food and other resource benefits the deepsea beds have to offer, but let's do it sensibly and protectively. The seabeds contain a treasure trove of metals that mankind needs.
Business wants the freedom to bring up the treasure and make a profit.
Many U.N. Delegates don't want it that way.