U.S. President Donald Trump signed an executive order on Thursday to promote the deep-sea mining industry, marking his latest attempt to promote the U.S. entry into nickel, copper and other critical minerals widely used throughout the economy.
The order signed by Trump privately attempts to promote mining of us and international waters as part of promoting China’s overall control over key mineral industries.
Reuters reported for the first time last month that the order was under consideration.
It is estimated that part of the Pacific and elsewhere contains a large number of potato-shaped rocks, called polymer metal nodules, containing components of electric vehicles and electronics.
A wanderer on the seabed will nodule with key minerals, which are mining ships above.
According to government officials, it is estimated that more than a billion tons of these nodules are in U.S. waters and are filled with manganese, nickel, copper and other key minerals.
The official added that extracting them could increase U.S. GDP by $300 billion in 10 years and create 100,000 jobs.
“The United States has core national security and economic interests in maintaining deep-sea science and technology and subsea mineral resources,” Trump said in the order.
The order directs the government to speed up mining licenses under the Deep Sea Hard Mineral Resources Act of 1980 and establish procedures for issuing licenses along the continental U.S. shelves.
International water mining dispute
It also ordered accelerated review of subsea mining permits “outside national jurisdiction”, a move that could cause friction from the international community.
The United Nations Convention on the Law of the Sea, which the United States has not ratified, has not yet ratified the standards for deep-sea mining in international waters, although it has not yet been formalized, but has not yet been formalized due to the lack of dust, noise and other factors being addressed.
There are billions of tons of battery batteries and energy storage at the bottom of the ocean, and a Canadian-registered company is leading the race to mine them. But, marine scientists and environmentalists say this is likely to risk the little-known Haitian ecosystem. Negotiations are underway at the International Seabed Authority in Jamaica this month.
Supporters of deep-sea mining say this will reduce the demand for large-scale mining operations on land, which is often unpopular in host communities. Environmental groups have called for a ban on all activities, warning that industrial operations at the seabed could lead to irreversible biodiversity losses.
“The U.S. government has no right to unilaterally allow industries to destroy the common heritage of mankind and tore the deep seas to make profits from a few companies,” said Arlo Hemphill of Greenpeace, who opposes this practice.
Any country can mine deep-sea on its own territory, about 200 nautical miles from the coast, and the company is already queuing up to dig American waters.
Prime Minister Justin Trudeau said he believes in repeated threats from U.S. President Donald Trump to the Canadian annex, partly because of his desire to control its key minerals. Andrew Chang explains why they are so attractive to the United States and how China raises its ante.
Mining companies that can benefit
Earlier this month, the impossible metals asked the government to conduct commercial auctions to acquire deposits for nickel, cobalt and other critical minerals near the U.S. coast.
Shares of metals, one of the most outstanding deep-sea mining companies, rose about 40% on Thursday, with a high of $3.39 per share after Reuters reported the executive order that day.
“With the stable, transparent and enforceable regulatory pathways available under existing U.S. laws, we look forward to providing the world’s first commercial nodule project responsibly and economically, responsibly and economically,” said Gerard Barron, CEO of the company.
In addition to metal companies, others focusing on deep-sea mining include Impossible Metals in California, JSC Yuzhmorgeologiya in Russia, Jamaican blue minerals, Chinese minerals and Marawa research and exploration in Kiribati.
