- Entitled ‘Unleashing America’s Offshore Critical Minerals and Resources’, the Executive Order directs Commerce Secretary Lutnick to expedite deep seabed mineral exploration licenses and commercial recovery permits in international waters under the existing U.S. seabed mining code
- The Order also directs the Secretaries of Defense and Energy to address the feasibility of using the National Defense Stockpile for nodule-derived minerals and of entering into offtake agreements, while reviewing and revising domestic processing capabilities for seabed mineral resources and Defense Production Act authorities
- TMC is positioned to play a central role in supporting an American industrial ecosystem underpinned by deep-seabed minerals, and poised to mobilize tens of billions in private investment in the U.S. across shipbuilding, ports, mineral processing, and advanced manufacturing
- The Company through its U.S. subsidiary expects to file license and permit applications under the U.S. Deep Seabed Hard Mineral Resources Act (DSHMRA) in the second quarter of 2025
NEW YORK, April 25, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest undeveloped resource of critical metals for building infrastructure, defense technologies, energy generation, transmission, and storage, today welcomed an Executive Order signed by President Trump to create a robust domestic supply for critical minerals derived from seabed resources.
The Executive Order — ‘Unleashing America’s Offshore Critical Minerals and Resources’ — directs Commerce Secretary Lutnick to implement an expedited permitting process under the Deep Seabed Hard Mineral Resources Act DSHMRA, a statute passed by Congress in 1980, and implementing regulations of the National Oceanic and Atmospheric Administration (NOAA) which govern the exploration and commercial recovery of hard mineral resources from the deep seabed in international waters. In addition to directing the International Development Finance Corporation, Export-Import Bank and Trade and Development Agency to identify tools to support this new industry, the order also instructs the Departments of Defense and Energy to assess the use of the National Defense Stockpile for nodule-derived minerals and entering into offtake agreements for the procurement of these minerals. In addition, these departments are also directed to review and revise domestic processing capabilities for seabed mineral resources and Defense Production Act authorities.
In light of its long-standing partnerships with the Pacific Island nations of Nauru and Tonga, the Company welcomes the Executive Order’s directive for a joint assessment—led by the Secretaries of Commerce, State, Interior, and Energy in coordination with U.S. partners and allies—on the feasibility of an international seabed benefit-sharing mechanism.
The Company’s U.S. subsidiary, The Metals Company USA LLC (“TMC USA”), is strategically positioned to play a central role in responsibly recovering polymetallic nodules to strengthen U.S. critical mineral supply chains and in building an industrial ecosystem enabled by deep seabed minerals—an emerging sector expected to mobilize tens of billions in private investment in the United States across shipbuilding, ports, mineral processing and refining, and advanced manufacturing. TMC USA has been evaluating U.S. locations for nodule processing since 2019, in order to reshore critical mineral processing and related mid-to-downstream industries to America.
Gerard Barron, Chairman and CEO of The Metals Company, said: “Throughout the 1970-1990s, America was a pioneer: U.S.-based consortia developed deep-sea nodule collection and processing; the U.S. Congress passed a deep seabed mining statute; NOAA put in place implementing regulations, completed offshore research campaigns and developed a programmatic environmental impact statement (EIS) for the area covering the Clarion-Clipperton Zone as well as five site-specific EISs. Today’s Executive Order marks America’s return to leadership in deep seabed minerals. With a stable, transparent, and enforceable regulatory pathway available under existing U.S. law, we look forward to delivering the world’s first commercial nodule project—responsibly and economically. As always, we remain committed to acting in the best interests of our sponsoring states, partners, investors, and the planet.”
Last month, TMC USA announced its intent to apply for licenses and permits under DSHMRA in the second quarter of 2025, and that it has formally initiated a pre-application consultation process with NOAA. Following extensive legal diligence on DSHMRA, NOAA’s implementing regulations and other applicable environmental protection legislation, the Company strongly believes that the U.S. seabed mining code offers the most efficient and transparent pathway for permitting commercial recovery of deep-sea mineral resources, in which proactive engagement between industry and the regulator forms a critical part of the regulatory process.
U.S. Leadership in Seabed Mining Regulation
- U.S. Congress passed DSHMRA in 1980, affirming that deep-seabed mining is a Freedom of the High Seas and granting NOAA authority to regulate exploration and commercial recovery activities of U.S. citizens in international waters
- NOAA adopted the implementing regulations on exploration licenses in 1981, followed by implementing regulations on commercial recovery permits in 1989, based on over six years of stakeholder consultations
- Under its Deep Ocean Mining Environmental Studies (DOMES) conducted from 1975 to 1981, NOAA developed a Programmatic Environmental Impact Statement (EIS) inclusive of the CCZ, published 5 site-specific EISs for U.S. exploration licenses and provided 7 reports to Congress on Deep Seabed Mining between 1981 and 1995
- As part of its licensing and permitting process, NOAA develops site-specific EISs, consults with over 11 other U.S. agencies and solicits public stakeholder comment to ensure a robust basis for its decisions
- As a regulator, NOAA has adopted a common-sense, science-based approach, explicitly recognizing that regulatory flexibility and trade-offs are required for emerging industries, while guarding against irreparable harm and significant adverse environmental impacts
- NOAA engages with applicants through pre-application consultation and offers written guidance where appropriate to assist in the development of adequate applications
About The Metals Company
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 rights to two polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean sponsored by the governments of the Republic of Nauru and the Kingdom of Tonga, and has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing.
