U.S. agencies move toward possible deep-sea mining permits after Trump order
The Facts
- Since Trump signed an executive order to build a U.S. deep-sea mining industry, businesses have raised money and federal regulators have accelerated work on permits and rules.
- An Associated Press review found that at least nine companies are in talks with the U.S. government for access to seabed minerals.
- Federal officials are considering offshore mining areas from American Samoa to Alaska, and BOEM has said a first lease sale could come as early as August.
- The U.S. could soon authorize commercial seabed mining in international waters, which the AP reports has not yet been done.
- The International Seabed Authority has granted exploration rights to nearly two dozen contractors but has not allowed commercial mining, while delegates have spent more than a decade working on globally agreed rules for areas beyond any single country's jurisdiction.
- Questions remain about the sector's economics, with analysts and investors cited in the AP report questioning whether deep-sea mining can compete with available land-based mineral sources.
How left and right are reading this
- Both agree
- A major U.S. push is moving deep-sea mining from concept toward possible commercial approval, with permits, rules, and lease planning advancing even as the global regime remains unfinished and the industry's economic viability is still unsettled.
- They split on
- Whether the story is about the government rushing public authority behind an extractive industry with dubious economics, or about the U.S. breaking from a stalled international process to pursue strategic mineral self-reliance despite unresolved market questions.
Context
What are companies seeking to mine on the seabed?
The reporting says companies are seeking access to seabed minerals, including nodules on the international seabed between Mexico and Hawaii that scientists say exist in very large quantities Democratic Undergro…,Yahoo! Finance.
What role does the International Seabed Authority play?
The International Seabed Authority is the body where delegates from dozens of countries have been trying for years to write rules for mining in international seabed areas. It has issued exploration contracts but, according to the reporting, has not approved commercial mining Yahoo! Finance,Democratic Undergro….
What is still uncertain about the U.S. push?
The AP report says it is unclear whether the companies involved have strong enough finances or business prospects, and analysts question whether deep-sea mining can compete with cheaper or more available land-based supplies Democratic Undergro…,9NEWS.
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