By Jamie Hyland
The Metals Company (TMC), a Canadian-based deep-sea minerals exploration firm, has announced plans to seek exploration licenses and commercial recovery permits under the United States’ Deep Seabed Hard Mineral Resources Act (DSHMRA) of 1980. This strategic move aims to expedite the commencement of deep-sea mining activities in international waters, circumventing the protracted regulatory processes of the International Seabed Authority (ISA).
TMC, traded on the NASDAQ under the symbol TMC, focuses on the collection and processing of polymetallic nodules from the seafloor in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean. These nodules are rich in critical metals such as nickel, copper, cobalt, and manganese, essential for electric vehicle batteries and renewable energy technologies.
The Metals Company is an explorer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for building infrastructure, power generation, transmission, and batteries with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company through its subsidiaries holds exploration and commercial rights to two polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of the Republic of Nauru and the Kingdom of Tonga. The company’s decision to pursue U.S. permits follows extensive legal diligence on DSHMRA and its implementing regulations.
Gerard Barron, Chairman & CEO of The Metals Company, commented: “Over the last decade, we’ve invested over half a billion dollars to understand and responsibly develop the nodule resource in our contract areas. We built the world’s largest environmental dataset on the CCZ, carefully designed and tested an offshore collection system that minimizes the environmental impacts and followed every step required by the International Seabed Authority. But, despite collaborating in good faith with the ISA for over a decade, it has not yet adopted the Regulations on the Exploitation of Mineral Resources in the Area in breach of its express treaty obligations under UNCLOS and the 1994 Agreement.”
“We believe we have sufficient knowledge to get started and prove we can manage environmental risks. What we need is a regulator with a robust regulatory regime, and who is willing to give our application a fair hearing. That’s why we’ve formally initiated the process of applying for licenses and permits under the existing U.S. seabed mining code. After extensive legal review and constructive engagement with NOAA and other officials across the U.S. government, we believe the United States offers a stable, transparent, and enforceable regulatory path. TMC USA expects to submit applications to NOAA in the second quarter of 2025. We’re encouraged by the growing recognition in Washington that nodules represent a strategic opportunity for America—and we’re moving forward with urgency.”
TMC’s initiative comes at a time when the ISA has yet to finalize regulations governing the exploitation of mineral resources in international waters. The ISA, established under the United Nations Convention on the Law of the Sea (UNCLOS), has been working towards creating a comprehensive mining code but has faced delays, leading companies like TMC to seek alternative regulatory pathways.
The DSHMRA, enacted by the U.S. Congress in 1980, affirms deep-sea mining as a freedom of the high seas and grants the National Oceanic and Atmospheric Administration (NOAA) the authority to regulate exploration and commercial recovery activities of U.S. citizens in international waters. NOAA’s regulatory framework includes comprehensive environmental protection measures, with a Programmatic Environmental Impact Statement for the CCZ and requirements for site-specific environmental assessments.
TMC USA, a subsidiary of The Metals Company, has officially requested a pre-application consultation with NOAA and plans to submit applications for the necessary licenses and permits in the second quarter of 2025. The company has engaged with officials in the White House and U.S. Congress, expressing optimism about the role deep-sea minerals can play in securing America’s supply chain.
This move aligns with the Trump administration’s focus on enhancing domestic mineral production to reduce reliance on foreign sources. An executive order issued by President Trump emphasized the importance of increasing domestic mining activities to bolster national security and economic prosperity.
TMC remains committed to advancing its deep-sea mining initiatives. The company’s stock has responded positively to the announcement, reflecting investor confidence in its strategic direction. As of March 28, 2025, TMC’s stock price experienced a significant uptick, underscoring market optimism about the company’s future prospects.
TMC’s pursuit of U.S. permits represents a pivotal development in the deep-sea mining industry, highlighting the complex interplay between international regulatory bodies, national legislation, environmental considerations, and the global demand for critical minerals. The outcome of this initiative may set a precedent for how deep-sea mining operations are regulated and conducted in the future.
For the full news release, please visit: The Metals Company to Apply for Permits under Existing U.S. Mining Code for Deep-Sea Minerals in the High Seas in Second Quarter of 2025
