In a significant move, President Trump has pledged to issue permits to mine the ocean floor in international waters, a decision that has profound implications for The Metals Company. This ambitious start-up, which has invested over $500 million in seabed mining endeavors, submitted its application shortly after Trump's executive order was signed two months ago.
However, this ambitious shift has raised eyebrows among The Metals Company's international partners, as they navigate the legal landscape that includes the Law of the Sea treaty, signed by nearly all countries except the U.S. This treaty explicitly prohibits the mining of areas beyond national jurisdiction without a collective agreement on the practice, which some argue places The Metals Company’s operations at risk of legal challenge.
In light of these developments, a Japanese firm previously allied with The Metals Company has expressed that it is "carefully discussing the matter," underscoring the need for adherence to internationally recognized standards and credibility within the industry. The firm’s concerns highlight the growing tension between national policies and global treaties designed to protect marine resources.
As the situation unfolds, The Metals Company must navigate uncertain waters, both literally and legally, to achieve its goal of becoming the first commercial seabed miner amidst a complex international legal framework.
