In a significant policy shift, President Trump has initiated a plan to issue permits for seabed mining in international waters abundant with valuable minerals, directly benefiting The Metals Company. This ambitious start-up has invested over $500 million, aiming to become the world's first commercial seabed miner. Following Trump’s executive order, the company swiftly filed its application to mine ocean floors.
However, this legal roadmap is tangled in international law. Countries, particularly those who have ratified the Law of the Sea treaty—nearly every nation but the U.S.—are expressing concerns. The treaty explicitly prohibits mining in international waters without prior agreements on the procedures, calling it a violation of the "common heritage of mankind."
Given these developments, several international partners are reassessing their ties with The Metals Company. A Japanese firm that previously collaborated with them on mineral processing has indicated that it is now "carefully discussing" the implications of this new policy, stressing the importance of maintaining international credibility in their business practices.
The situation underscores the complexities of international mining regulations and the potential ramifications for companies involved in seabed exploration, depending on how nations choose to navigate their obligations under existing treaties.
