Deep-Sea Mining Firms Race for US Regulatory Approval

At least nine companies are seeking US approval for deep-sea mining projects after a Trump administration executive order directed agencies to accelerate the sector. The Metals Company (TMC) is leading the race after submitting a compliant application under the 1980 Deep Seabed Hard Mineral Resources Act. Its application is now open for public comment. TMC aims to begin commercial polymetallic nodule production by the end of 2027, following a 2022 test that recovered 3,000 metric tons of seabed material. Its shares reached $8.19 during a wave of investor interest. Other activity includes Copperhead Resources’ rebranding as Deep Sea Minerals Corp and a partnership between AOMC and Odyssey Marine Exploration targeting an estimated $1 billion valuation. The main target is the Clarion-Clipperton Zone in the Pacific, with potential auctions also planned near American Samoa, the Mariana Islands and Alaska. Supporters say deep-sea mining could reduce US dependence on China for copper, cobalt and other critical minerals used in electric vehicles, defence equipment and industrial supply chains. However, deep-sea mining faces major environmental and legal risks. More than 40 countries support a moratorium, while environmental groups and Indigenous communities oppose the projects. More than 5,500 species have been documented in proposed mining areas. Lawsuits filed in late August and early September 2026 challenge the administration’s lease-sale procedures and environmental reviews. Deep-sea mining therefore remains a speculative sector with significant regulatory uncertainty.