Companies join a deep-sea mining rush after Trump executive order, as regulators fast-track permits
Nine companies are in talks with the U.S. government for deep-sea mining permits under a Trump-era executive order, with potential auctions for seabed mineral access starting this summer. Critics question the financial viability and environmental risks of the industry, while the U.S. moves to bypass global regulatory frameworks like the International Seabed Authority.
The U.S. government is accelerating plans to grant deep-sea mining permits after President Donald Trump signed an executive order last year, prompting at least nine companies to seek seabed mineral access. Federal regulators aim to auction sections of the seafloor from American Samoa to Alaska as early as this summer, marking the first commercial mining attempts in international waters. Polymetallic nodules—fist-sized rocks rich in manganese, copper, nickel, and cobalt—are the most sought-after targets, with trillions of them lying between Mexico and Hawaii. Other seabed deposits, including mineral crusts near volcanic seamounts and gold-silver-rich hydrothermal vents, are also being explored, though nodules remain the primary focus for investors. Trump’s order framed deep-sea mining as critical for U.S. trade independence from China, directing agencies to fast-track permitting despite decades of global negotiations under the International Seabed Authority (ISA) in Jamaica. The ISA, which oversees mining in international waters, has granted exploration rights to nearly two dozen contractors but has not approved commercial mining, insisting minerals should benefit ‘all humankind.’ Critics warn the industry’s financial models are unproven, with several involved companies facing legal disputes and unclear refining processes. Victor Vescovo, a deep-sea explorer, called the rush speculative, noting that closer scrutiny could reveal deeper uncertainties. Meanwhile, the White House defended the executive order as legally sound, signaling the U.S. will proceed independently of global mining rules.
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