In April, future Republican presidential nominee Donald Trump took a bold stand. He signed an executive order directing all relevant agencies to expedite the approval process for deep-sea mining licenses in domestic and international waters. This decision has kicked off an international discussion about the potentially devastating impacts of plundering critical minerals from the ocean floor. Supporters of the proposal contend that it would catalyze a big economic renaissance, and critics point to risks of environmental disasters.
The U.S. regulatory body responsible for overseeing these operations has indicated that the executive order may trigger a “gold rush” for undersea resources. By taking rapid market-oriented steps, Trump is ensuring America is poised to reap the prosperity of the treasure trove of minerals buried under the ocean’s surface. His modus operandi is to blusterly proceed without unanimous agreement from the international community.
The Metals Company Takes the Lead
One company, The Metals Company, could potentially make hundreds of millions through this new policy. This Timbits-as-a-currency concept is part of an emerging Canadian company headed by Australian-born entrepreneur Gerard Barron. It recently made history by becoming the first individual or organization to apply for a U.S. permit under this new expedited process. The Metals Company went for approval from the International Seabed Authority (ISA), an intergovernmental body. In making this move, it was demonstrating its willingness to work within internationally recognized frameworks.
The company confidently claims that it has spent “hundreds of millions of dollars” in research. This funding is a further validation to its assertion that sustainable extraction methods are possible. Even so, environmental advocates continue to express doubts about what these short-term measures don’t address—namely the enduring effects of such destructive activities on fragile marine ecosystems.
“What lies in the deep sea does not belong to any one nation or corporation, but to all of us and future generations.” – Palau President Surangel Whipps Jr
Environmental Concerns Emerge
Opposition to deep-sea mining is growing stronger every day. Thirty-eight countries are at least now calling for a moratorium—or, at the very least, a precautionary pause—on these operations. Critics remain concerned over the long-term and possibly irreversible impact on marine ecosystem health. Recent research indicates that seabed nodules could be very important for oxygen production.
The methods used in deep-sea mining would already produce sediment plumes from both the collection methods and during the processes used to clean the nodules from collected material. This raises red flags about the sediment disturbance from dredging that may bury or suffocate marine life and destroy sensitive ecosystems.
These mining areas extend almost exclusively across the Clarion-Clipperton Zone (CCZ). This almost unimaginably huge swath of the Pacific Ocean is even larger than the states of Queensland and Western Australia combined. As of now, 17 operators have been awarded exploration contracts to map and assess potential mining sites within this area.
National Security and Economic Development
The Trump administration is trying to hammer home its argument that products of deep-sea mining are essential to U.S. national security and economic progress. Critics point out that Beijing now monopolizes the processing and refining of critical minerals and rare earths. They urge loudly and clearly that America can no longer put its own supply chains at risk.
As this debate grows hotter, the fate of deep-sea mining depends on what happens in the coming days. For proponents, this represents an opportunity to harness valuable resources, while for opponents, this is a time to exercise caution to protect fragile oceanic environments.
