Following an executive order in April 2025, the US administration directed federal agencies to accelerate deep-sea mining. At least nine companies are currently negotiating with regulators to extract minerals like cobalt and copper from the seabed.
The Metals Company (TMC) has submitted an application under the 1980 Deep Seabed Hard Mineral Resources Act and is currently in a public comment period. The firm plans to begin commercial production of polymetallic nodules by the end of 2027, following a 2022 test that yielded 3,000 metric tons of material.
Market activity is increasing as firms consolidate. Copperhead Resources has rebranded as Deep Sea Minerals Corp, while AOMC and Odyssey Marine Exploration have partnered with a target valuation of $1 billion. TMC shares previously reached a peak of $8.19.
Primary exploration targets include the Clarion-Clipperton Zone, as well as waters near Alaska, the Mariana Islands, and American Samoa. The administration is utilizing the 1980 law to bypass the UN Convention on the Law of the Sea, which the US has not ratified.
The initiative faces significant opposition, with over 40 nations calling for a moratorium on deep-sea mining. Environmental groups and Indigenous communities have filed lawsuits in August and September 2026, challenging the procedural and environmental review processes.
