How the US triggered a ‘gold rush’ in deep-sea mining
- In April 2024, U.S. President Donald Trump issued an executive order aimed at accelerating the development and permitting of deep-sea mining activities in both U.S. And international waters.
- The order aims to counter China's mineral dominance and supports private companies accessing polymetallic nodules rich in critical minerals.
- The Metals Company , a Nasdaq-listed firm, swiftly applied for a commercial license under U.S. Law, challenging the International Seabed Authority's regulatory role.
- The executive order prompted increased investor interest described by TMC CEO Gerard Barron as 'phenomenal,' while critics warn it breaches international law and risks severe environmental harm.
- This move intensifies geopolitical tensions, pressures ISA members to finalize mining regulations, and raises concerns about protecting fragile marine ecosystems and indigenous rights.
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