President Trump signed an executive order on April 24 to enhance the U.S. deep-sea mining industry for critical minerals, aiming to reduce reliance on China and bolster the economy. The order seeks to extract polymetallic nodules from U.S. and international waters, potentially unlocking minerals crucial for electric vehicles and electronics. The administration estimates that accessing over 1 billion metric tons of these nodules in U.S. waters could generate $300 billion in GDP and create 100,000 jobs over a decade. Trump emphasized the national security and economic importance of maintaining leadership in deep-sea mining.

While supporters view deep-sea mining as a solution to land-based mining challenges, environmental groups are alarmed by the potential biodiversity loss from industrial activities on the ocean floor. Greenpeace and others advocate for a ban on deep-sea mining, arguing against the destruction of the ocean’s common heritage for corporate profit. Companies like The Metals Company are eager to participate, with shares rising following the executive order.

The U.S.’s access to critical minerals has faced constraints due to Chinese export restrictions, prompting the government to expedite mining permits and support domestic mining projects. The executive order signals a strategic move to secure a stable supply of critical minerals and reduce dependence on foreign sources. As the U.S. navigates the complexities of deep-sea mining, balancing economic benefits with environmental concerns remains a key challenge in shaping the future of the industry.