What's happened
Nine companies have been in talks with the government to access seabed minerals, with potential lease sales from American Samoa to Alaska. The effort aims to allow commercial seabed mining in international waters, though regulatory and processing questions remain and watchdogs are skeptical about promised riches.
What's behind the headline?
Analysis
- The path to offshore mining is accelerating, but the record of key players is mixed and regulatory certainty remains uncertain.
- The Metals Company has touted near-term feasibility, while Odyssey Marine Exploration faces a legacy of legal disputes in shipwreck ventures.
- Regulation will hinge on NOAA/BOEM approvals and clarifications on processing/refining of nodules and sands.
- Readers should monitor lease timelines, permit decisions, and potential environmental reviews as the first sales approach.
How we got here
Trump has issued a 2025 executive order urging rapid development of offshore critical minerals. NOAA and BOEM are designated to enforce rules, but neither has approved a commercial seabed mining project yet. Several firms, including The Metals Company and Odyssey Marine Exploration, have tested or pivoted toward seabed minerals amid legal and financial scrutiny.
Our analysis
AP News reports that nine companies are in talks; The Independent mirrors the AP review and highlights regulatory timelines. Victor Vescovo provides critical skepticism about financial models. The Metals Company and Odyssey Marine Exploration are named as key players; regulatory bodies NOAA and BOEM are central to permitting.
Go deeper
- What happens if the first leases are delayed?
- Which companies are most likely to win initial access and why?
- How might processing challenges affect timelines and profitability?
More on these topics
-
Donald Trump - 45th and 47th U.S. President
Donald John Trump is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party, he served as the 45th president from 2017 to 2021.
-
Odyssey Marine Exploration - Company
Odyssey Marine Exploration, Inc. is an American company engaged in deep-ocean exploration with a focus on the exploration, development and validation of subsea mineral resources.
-
The Metals Company - Company
The Metals Company, formerly DeepGreen Metals, is a Canadian mining startup founded in 2011 by David and Robert Heydon. The company is focused on the deep sea mining of seafloor polymetallic nodules.
-
Bureau of Ocean Energy Management - Government agency
The Bureau of Ocean Energy Management is an agency within the United States Department of the Interior, established in 2010 by Secretarial Order.
-
National Oceanic and Atmospheric Administration - Agency
The National Oceanic and Atmospheric Administration is an American scientific agency within the United States Department of Commerce that focuses on the conditions of the oceans, major waterways, and the atmosphere.