Trump Signs Executive Order to Boost Deep-Sea Mining Industry

Published: Apr 28, 2025 19:42

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On Thursday, President Donald Trump signed an executive order to boost the deep-sea mining industry, aiming to increase U.S. production of critical minerals like nickel and copper and reduce reliance on China's dominance in the sector. The order encourages mining within U.S. waters, where over 1 billion metric tons of polymetallic nodules containing manganese, nickel, copper, and other minerals are estimated to exist, potentially boosting U.S. GDP by $300 billion over 10 years and creating 100,000 jobs. It directs the expedited permitting of mining under the 1980 Deep Seabed Hard Minerals Resource Act and the exploration of resources along the U.S. Outer Continental Shelf, while promoting international cooperation. Companies like Impossible Metals, which recently requested a commercial auction near American Samoa, and The Metals Company, whose shares rose about 40% to a 52-week high of $3.39, are actively pursuing deep-sea mining opportunities, despite environmental concerns over potential biodiversity loss.

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