April 24 (Reuters) – On Thursday, President Donald Trump took a significant step by signing an executive order to enhance the deep-sea mining sector. This move is part of his broader strategy to secure U.S. access to essential minerals like nickel and copper,which are crucial for various industries.The private signing of this order aims to stimulate mining activities in both U.S.and international waters, particularly as a countermeasure against China’s dominance in the critical minerals market.Reports from last month hinted at this initiative being discussed behind closed doors.in certain regions of the Pacific ocean, there are vast deposits of unique rocks called polymetallic nodules that contain vital components for electric vehicles and electronics. An administration official noted that over 1 billion metric tons of these nodules lie within U.S. waters, rich in manganese, nickel, copper, and other key minerals. Tapping into these resources could potentially add $300 billion to the U.S. economy over a decade while creating around 100,000 jobs.
trump emphasized in his order that maintaining leadership in deep-sea science and seabed mineral resources is crucial for national security and economic interests. The directive instructs officials to speed up permit approvals under the Deep Seabed Hard Minerals Resource Act from 1980 while also establishing a streamlined process for permits along the Outer Continental shelf.
Additionally, it calls for quicker reviews of seabed mining permits beyond national jurisdiction—a decision likely to create tensions with global partners. The International Seabed Authority has been working on regulations regarding deep-sea mining but has yet to finalize them due to ongoing debates about environmental impacts like dust and noise pollution.
Proponents argue that deep-sea mining could reduce reliance on terrestrial operations often met with local opposition due to their environmental footprint. However,environmental advocates warn against potential irreversible damage caused by such industrial activities on ocean floors.
Arlo Hemphill from Greenpeace voiced strong concerns: “The government shouldn’t have the authority to allow an industry that threatens our shared ocean heritage just for corporate gain.”
Countries can permit deep-sea mining within their territorial waters—upwards of 200 nautical miles offshore—and companies are already eager for opportunities in U.S.-controlled areas. As an example, Impractical Metals recently requested permission from authorities for commercial access near American Samoa’s coastlines.
Following news about Trump’s executive order earlier today, shares of The Metals Company surged nearly 40%, reaching a peak price not seen in over a year at $3.39 per share.CEO Gerard Barron expressed optimism about launching what he claims will be the world’s first commercial nodule project responsibly sourced from an area known as the Clarion-Clipperton Zone between Hawaii and Mexico.
Other players eyeing this emerging market include California’s Impossible Metals alongside firms like Russia’s JSC Yuzhmorgeologiya and China Minmetals among others looking into similar ventures across different regions globally.
In recent months, access to critical minerals—especially those sourced from Chinese suppliers—has tightened as Beijing imposed export restrictions on several materials essential for technology production; thus increasing pressure on Washington officials who are now fast-tracking permits across ten domestic projects while simplifying approval processes on federal lands too.
Trump’s latest directive broadly categorizes “rare earths” when discussing critical minerals but does not suggest any specific belief regarding whether these nodules contain neodymium or other rare elements according to administration sources.
