Bahrain bets on Pacific deep-sea mining

Bahrain bets on Pacific deep-sea mining

Bahrain has backed a US company’s bid to mine in international waters in the Pacific for metals used in electric vehicles and electronics. It is the first country in the region to sponsor such a permit, as Manama looks for new revenue sources while managing one of the Gulf’s heaviest debt loads — 141% of GDP, according to the IMF.Bahrain hasn’t invested in Impossible Metals but may fund a refinery in the future, Reuters reported. For now, its ro…