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This study describes and analyzes the content of a proposed Draft Convention on the Regulation of Antarctic Mineral Resource Activities. This Draft Convention was, in several respects, meant to serve unique objectives. First, it had to accommodate the interests of states claiming territorial rights concerning parts of Antarctica, and those objecting to such claims. Second, since the Antarctic environment is unique and fragile, the Draft Convention had to provide for the strictest protection of the environment, so far, in international law. Even if the Draft Convention never enters into force, its rules concerning the protection of the Antarctic environment, on responsibility and liability as well as on arbitration, may serve as a model for the further development of international environmental law.