TMC Welcomes U.S. Executive Order to Expedite Permitting and Evaluate Offtake of Critical Minerals from Nodules in the High Seas

Core Viewpoint - The Metals Company Inc. welcomes an Executive Order aimed at enhancing the domestic supply of critical minerals from seabed resources, positioning itself to play a significant role in this emerging sector [1][2]. Group 1: Executive Order Details - The Executive Order titled 'Unleashing America's Offshore Critical Minerals and Resources' directs the Commerce Secretary to expedite permitting processes for deep seabed mineral exploration and recovery under the Deep Seabed Hard Mineral Resources Act (DSHMRA) [2][6]. - It instructs the Departments of Defense and Energy to evaluate the use of the National Defense Stockpile for minerals derived from seabed nodules and to explore offtake agreements for these minerals [2][6]. - The order also calls for a joint assessment on the feasibility of an international seabed benefit-sharing mechanism, involving various U.S. government departments and allies [3]. Group 2: Company Positioning and Strategy - The Metals Company USA LLC is strategically positioned to recover polymetallic nodules, which will strengthen U.S. critical mineral supply chains and foster an industrial ecosystem supported by deep seabed minerals [4][6]. - The company has been evaluating U.S. locations for nodule processing since 2019, aiming to reshore critical mineral processing and related industries to the U.S. [4]. - The company plans to apply for licenses and permits under DSHMRA in the second quarter of 2025 and has initiated a pre-application consultation process with NOAA [5][6]. Group 3: Historical Context and Regulatory Framework - The U.S. has a historical precedent in deep-sea nodule collection and processing, with relevant legislation and regulations established since the 1980s [5][10]. - NOAA has developed a comprehensive regulatory framework for deep seabed mining, including environmental impact assessments and stakeholder consultations [10]. - The regulatory approach emphasizes flexibility and science-based decision-making to support emerging industries while safeguarding against environmental harm [10].