President Trump has signed a new executive order that could open the door for companies to mine the deep ocean floor. This move aims to boost the supply of critical minerals, which are essential for technologies like electric vehicle batteries.
Currently, there is no commercial deep-sea mining happening anywhere in the world. However, many companies are interested in the ocean floor as a potential source of valuable metals such as nickel, cobalt, manganese, and copper. These metals are crucial for various technologies, especially in the growing electric vehicle market.
The executive order, signed on a Thursday, might bypass ongoing international discussions aimed at regulating deep-sea mining. Traditionally, the International Seabed Authority (ISA) oversees these areas, which are often beyond the jurisdiction of individual countries. The U.S. has not ratified the treaty governing seabed activities and is not a voting member of the ISA, although it has previously respected the ISA’s processes.
In the executive order, Trump has directed federal agencies to speed up the review and approval of mining permits for both U.S. and international waters. This will be done using a law from 1980 called the "Deep Seabed Hard Mineral Resources Act."
Environmentalists and scientists have expressed strong opposition to this order. They warn that mining the deep seabed could harm fragile marine ecosystems and negatively impact the fishing industry. Douglas McCauley, a professor of ocean science, emphasized that these ecosystems are among the least resilient on Earth and that mining could have disastrous biological effects.
Mining activities can stir up sediment, which can smother marine life and disrupt the food chains that fish rely on. There are also questions about whether mining the seabed is truly necessary. Micah Ziegler, an assistant professor at Georgia Tech, pointed out that alternative battery technologies are being developed that may reduce the need for metals like cobalt and nickel.
Despite the concerns, at least one company, The Metals Company, is looking to apply for a permit to mine the ocean floor in the U.S. Following the executive order, the company’s stock saw a significant increase, rising by 44% in a single day.
As the debate continues, the implications of deep-sea mining remain uncertain, with both potential benefits and significant risks on the horizon.