Deep-sea Mining Company seeks international permit in accordance with new Trump rules

The Metals Co became the first deep sea miner on Thursday to apply for Washington's permission?to mine?the international oceanbed, under a new streamlined permit process that was introduced this week. Deep-sea mines have the potential to produce large quantities of minerals for electric vehicles and energy transition. However, the debate about the possible environmental damage has been dragging on for decades and has prevented licenses from being issued. On 'Wednesday, the U.S. Department of Commerce’s National Oceanic and Atmospheric Administration announced that it would consolidate licensing and permitting into a single and shorter review.

Gerard Barron is the CEO of?TMC. He said that "these?amended regulation pave a path for faster permits and we can move into commercial production sooner than later."

PERMIT APPLICATION BY COMPANY BY YEAR END

Barron stated that the Vancouver-based company hopes to receive its permit by the end the year. Glencore, a London-listed commodity trader and miner, has agreed to purchase metals TMC removes from the ocean floor. The Metals Co submitted a new application under the new guidelines to operate in the Clarion-Clipperton Zone, a part of the Pacific Ocean that lies between Hawaii and Mexico.

The Metals Co. has filed to operate in two zones where there are an estimated 800 million metric tons (?millions of tons) of polymetallic nodules containing critical minerals such as nickel, copper, cobalt, and manganese.

The Metals Co, and other proponents of deep-sea mines say that it will reduce the need for large mining operations on land which are not always popular with the host communities. Environmental groups have demanded that the activity be banned. They warn that industrial operations at the ocean's?floor can cause irreversible biodiversity losses. International Seabed Authority, a UN-backed organization, has been working for years to establish international mining standards.

Deep-sea mining is allowed in any country's territorial waters up to approximately 200 nautical miles away from the shore. (Reporting and editing by Barbara Lewis; Ernest Scheyder)

(source: Reuters)