The Trump administration is pressing ahead on Wednesday with an effort to encourage U.S. exploration of the deep sea by accelerating permitting for companies hunting for critical minerals in international waters, a move that is likely to face environmental and legal concerns.
The effort could help spark a U.S.-led scramble for resources at the deep seabed before global standards covering the relatively new mining techniques are in place reported Reuters.
A newly finalized rule from the National Oceanic and Atmospheric Administration follows the signing of an executive order by U.S. President Donald Trump that was aimed at bolstering the deep-sea mining industry as part of a push to counter China’s sweeping control of critical metals.
Under the rule, U.S. officials will consolidate the licensing and permitting process into a single and ostensibly shorter review, according to a government press release that was seen by Reuters.
Last year, Canadian miner The Metals Company (TMC.O), opens new tab started the process to obtain such exploration licenses and permits, advancing its bid to become the first company to gain approval to develop deep-sea minerals.
Read more here.
