A controversial executive order signed by the U.S. President Donald Trump has ignited what the Financial Times describes as a “gold rush” for deep-sea minerals — one that could transform global supply chains but also spark environmental degradation and legal disputes across international waters.
In an ambitious move to secure critical resources and challenge China’s dominance in battery and green technology materials, Trump’s directive asserts U.S. authority to issue mining licenses for international seabeds — a domain traditionally governed by the United Nations-backed International Seabed Authority (ISA). The order follows heavy lobbying from The Metals Company (TMC), a Canadian deep-sea mining outfit publicly traded on Nasdaq.
According to Financial Times reporting, this executive order has energized interest from commodity giants like Glencore and Mitsubishi, as well as battery and metal firms across Asia. At a nickel processing plant in Japan, a delegation of industry executives recently examined nodules dredged from 4,000 meters below the Pacific Ocean. These rock-like formations are rich in nickel, cobalt, copper, and manganese — materials vital for electric vehicles, power grids, and clean energy technologies.
Daisuke Sasaki of Pacific Metals, which hosted the event, told the FT that seabed mining could be more economic and environmentally friendly than traditional land-based operations, particularly given rising concerns about toxic waste and human rights abuses linked to conventional mining.
However, the initiative has drawn swift backlash. The European Commission and China have condemned the move as a breach of international law, with Beijing warning that no country should bypass the ISA. Environmental groups and lawmakers, including U.S. Representative Maxine Dexter, have criticized deep-sea mining as a “high-risk, low-reward” endeavor with potentially irreversible ecological impacts.
Analysts interviewed by the FT noted that while extracting minerals from the seabed is technically feasible, its financial viability remains uncertain. Operating in freezing, high-pressure conditions at extreme depths presents logistical and cost challenges that could undermine profitability.
Meanwhile, nations including Brazil, the UK, and Fiji have joined a growing coalition calling for a moratorium or “precautionary pause” on deep-sea mining until more is understood about its environmental consequences. Even major corporations like Google, Samsung SDI, BMW, and Lloyds have signaled opposition by pledging not to source materials or provide financing for such projects.
Despite this, TMC continues to position itself as a pioneer in the space. The company has submitted an application for a U.S. license to begin mining operations as early as 2027 and has proposed processing materials in Texas to strengthen domestic battery supply chains. Speaking to the FT, TMC CEO Gerard Barron said he even gifted Trump a deep-sea nodule to symbolize the company’s ambitions.
But critics warn that the U.S. is risking global maritime stability. Leticia Carvalho, head of the ISA, warned that unilateral licensing could violate international law and destabilize investment and diplomatic relations. China, which controls much of the battery production and undersea mining infrastructure, has hinted at retaliatory actions — possibly escalating disputes from the Arctic to the South China Sea.
Adding to the complexity, Chinese companies are themselves eyeing partnerships with TMC, further muddying claims that U.S. deep-sea mining will reduce reliance on Beijing. In fact, representatives from CNGR, a major Chinese battery chemical firm, were among those who inspected samples in Japan.
The upcoming ISA meeting in Jamaica this July will be pivotal. Diplomats from more than 150 nations are expected to finalize a legal and environmental framework to govern seabed mining. As global tensions rise, the U.S. push to lead a new era of ocean-floor extraction — as reported by the Financial Times — may define a critical chapter in the race for minerals and international power projection.
