The Metals Company (NASDAQ:TMC), a deep-sea mining exploration company, has announced a pre-application consultation with the U.S. National Oceanic and Atmospheric Administration and has engaged with White House officials.
If the Trump administration approves a mining license, it could disrupt long-standing international agreements, including the U.N. Convention on the Law of the Sea, which regulates deep-sea mining under the International Seabed Authority (ISA).
TMC holds two ISA exploration licenses sponsored by the Pacific island nation of Nauru, which allow it to prospect for cobalt, nickel, and other metals in the Clarion-Clipperton Zone. However, commercial mining cannot begin until the ISA finalizes regulations—a process that has stalled for over a decade.
Greenpeace and other organizations have ramped up calls for a ban, warning that the ISA's decision-making process remains susceptible to pressure from mining companies. Meanwhile, TMC has indicated that it plans to submit its first official application in June, regardless of whether the regulations are finalized.
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