Deep-Sea Mining Rush Accelerates After Trump Executive Order

One year after President Donald Trump signed an executive order promising to create a deep-sea mining industry from scratch, at least nine companies are in talks with the U.S. government for access to seabed minerals, according to an Associated Press investigation. Federal regulators at NOAA and the Bureau of Ocean Energy Management (BOEM) have raced to fast-track a permitting process, with sections of the seafloor from American Samoa to Alaska potentially auctioned for offshore mining as early as summer 2026.

The move positions the United States to unilaterally launch commercial deep-sea mining in international waters — something never done before — putting America at odds with most other nations and the International Seabed Authority (ISA). Environmental groups, scientists, and some economists have raised serious concerns about ecological damage, economic viability, and legal ramifications.

The Executive Order and Regulatory Sprint

Trump signed Executive Order “Unleashing America’s Offshore Critical Minerals and Resources” on April 24, 2025, directing U.S. agencies to expedite deep-sea mining permitting. The White House hailed seafloor minerals as vital to America’s future prosperity and its trade independence from China.

In response, NOAA finalized a rule in January 2026 consolidating exploration license and commercial recovery permit applications into a single process, targeting 16 applications for processing next fiscal year. NOAA Administrator Neil Jacobs said the move “modernizes the law and supports the America First agenda by enabling U.S. companies to access these resources more quickly.” BOEM, meanwhile, plans its first lease sale as early as August 2026 and will restructure as the Marine Minerals Administration.

The Companies Joining the Rush

The front-runner is The Metals Company (TMC), which has close ties to the Trump administration. CEO Gerard Barron was in the White House on the day Trump signed the executive order and has since testified at three congressional hearings. TMC has spent nearly $800,000 on lobbying since 2024 and says it could commercially mine by the end of 2027 if granted a permit.

Other entrants include Odyssey Marine Exploration, originally a sunken treasure hunter that pivoted to seafloor minerals after legal battles with Spain; Impossible Metals, which claims to be building environmentally friendly floating robots and is targeting American Samoa and the Northern Mariana Islands despite local opposition; and Eco Minerals, a South Carolina startup that sprang from an effort to find Amelia Earhart’s long-lost plane.

As BBC News reported, China condemned the executive order, with foreign ministry spokesman Guo Jiakun saying it “violates international law and harms the overall interests of the international community.” The EU, UK, and many other countries support a moratorium on deep-sea mining until further scientific research is conducted.

Environmental Concerns

Deep-sea ecosystems remain vastly under-studied — approximately 90% of species in the Clarion-Clipperton Zone, the prime target for nodule mining, are unknown to science. Studies show that test mining reduces species abundance by 37% and biodiversity by 32%. Larger animals did not return to mined areas even decades later.

According to NPR, the polymetallic nodules targeted by mining companies take millions of years to form and serve as essential habitat for deep-sea life. Steve Haddock, senior scientist at the Monterey Bay Aquarium Research Institute, told NPR: “The creatures down there are not ugly and scary and grotesque. I just think they’re incredibly beautiful. So it’s kind of a shame to think about destroying things that we don’t even know about.”

Jeff Watters of Ocean Conservancy warned that “the harm caused by deep-sea mining isn’t restricted to the ocean floor: it will impact the entire water column, top to bottom, and everyone and everything relying on it.”

Economic Questions

Despite the administration’s projection that deep-sea mining could boost GDP by $300 billion over 10 years and create 100,000 jobs, analysts question the industry’s economic viability. Battery technology has evolved, reducing dependence on cobalt and nickel — key metals found in nodules. Copper mines in Michigan and Wyoming are fully permitted but inactive; a cobalt mine sits idled in Idaho.

Ian Lange, a professor of mineral economics at the Colorado School of Mines, told the AP: “I personally am skeptical that what’s holding people back (from deep-sea mining) is nonmarket things like permitting.”

The Metals Company’s own pre-feasibility study forecast it would break even in its eighth year — the same year it projected the mineral reserves would be “all mined.” Mining consultant Steven Emerman called this deeply concerning: “No one goes into a project saying, ‘In the best-case scenario, we’ll break even.’”

Processing and Legal Hurdles

The U.S. currently has no major processing facilities for nickel, manganese, or cobalt, meaning companies will need to rely on foreign partners in Japan, South Korea, and Indonesia. This reliance could create legal complications, as most other countries involved in deep-sea mining are bound by their commitments to the ISA. Coalter Lathrop, a legal expert on the law of the sea, warned that foreign companies or citizens could be sued for helping the U.S. bypass the international framework.

What’s Next

BOEM plans its first lease sale as early as August 2026. The Metals Company hopes to begin commercial mining by the end of 2027, while Eco Minerals targets 2028. But with a presidential election approaching in 2028, company executives are pushing hard for assurances that their projects won’t be canceled by a future administration less eager to mine the sea.

As NOAA and BOEM officials told an industry conference in January: no one has a crystal ball — but for now, they’re “open for business.”