Exploration and exploitation of the deep-seas in search of marine minerals and genetic resources have over the past fifteen years received increased attention. Developments in sub-marine technologies, rising raw material prices and scarcity, and advancements in biotechnology, are changing the business-case for further investments in the marine environment. This report provides a state-of-play overview on exploring and exploiting deep-sea resources. A Cost-Benefit Analysis identifies the main potentials and challenges in a scenario where exploitation increases. Policy options are suggested to balance trade-offs between economic, social and environmental aspects associated with future developments.