Critical Minerals: Donald Trump Reignites Global Seabed Mining Race
The ocean floor holds mineral resources worth $100 trillion. Recently, interest in these critical minerals - cobalt, nickel, and rare earth elements - has surged, but mining output remains limited.
On April 24, 2025, President Donald Trump signed an executive order to expedite the issuance of offshore seabed mining permits in U.S. waters. Although this move is limited to U.S. territory, it may trigger a global race for seabed minerals.
American companies like Impossible Metals and The Metals Company have already begun seeking deep-sea seabed mining permits. The executive order instructs the federal government to accelerate permit approvals, estimating that this industry could add $300 billion to U.S. GDP over the next decade and create 100,000 jobs.
The order also calls for exploring opportunities beyond national jurisdiction, but provides no details on how the U.S. plans to achieve this extraterritorial goal.
The deep sea contains vast mineral resources, yet commercial mining remains stalled internationally. Countries are awaiting the International Seabed Authority (ISA), established in 1994 to oversee "responsible" extraction of these common heritage resources. However, negotiations have been delayed for years due to ongoing disagreements among nations.
Tech giants like Google and environmental organizations including the World Wildlife Fund (WWF) have called for a moratorium on seabed mining, warning of severe risks to marine biodiversity. The Biden administration agreed with the G7 in 2022, emphasizing that mining can only proceed if it does not cause "significant environmental harm."
By expediting its own offshore mining permit process and eyeing transboundary operations, the U.S. has abandoned this cautious stance. Washington's actions may prompt other countries, especially those in the Pacific and Indian Ocean regions, to quickly initiate mining activities, thus reigniting global competition for strategic deep-sea minerals without waiting for multilateral agreements.
This shift by the U.S. may force the international community to clarify its stance swiftly. The ISA may face pressure to reach consensus more rapidly to avoid marginalization. Alternatively, America's approach may lead to countries acting independently based on their own priorities for seabed mining.
Source: ecofingency
Original Article: https://www.toutiao.com/article/1830789633708035/
Disclaimer: This article represents solely the author's viewpoint.