Why is there no mining in Antarctica, despite evidence of mineral resources on the continent?

Antarctic-Environmental Protocol, or the Madrid Protocol, is part of the Antarctic Treaty System.

Article 7 of Treaty states that "Any activity relating to mineral resources, other than scientific research, shall be prohibited." This provision contrasts with the previous rejected Convention on the Regulation of Antarctic Mineral Resource Activities, which would have allowed mining under the control and taxation of an international managing body similar to the International Seabed Authority. The Treaty was signed in 1991. It will be open for review in 2048