According to a report by the Financial Times (FT) on the 12th, as cited by Mining.com, US President Trump is drafting an executive order that will enable the US to develop critical minerals discovered on the Pacific seabed.
This move will venture into one of the planet's most unexplored regions. Polymetallic nodules formed on the seabed contain abundant metals such as nickel, cobalt, copper, and manganese, which are essential for battery production, along with 17 rare earth elements necessary for high-tech applications.
FT believes that this executive order will allow the US to build a "strategic reserve" of these critical minerals, similar to previous reserves of gold and oil. The plan aims to "stockpile critical materials within US territory for future large-scale use."
FT added that the critical mineral reserve is one of the goals of the US government to expedite deep-sea mining and onshore processing under the law.
Reuters reported earlier this month that Trump is considering signing an executive order that would allow companies to bypass the ISA and apply directly to the National Oceanic & Atmospheric Administration (NOAA) for permits.
Regarding onshore minerals, last month Trump signed an executive order invoking the Defense Production Act to expand domestic mining and processing of critical minerals to reduce foreign dependence.