Metals Company welcomes Executive Order signed by Trump on critical minerals

TMC the metals company (TMC) welcomed an Executive Order signed by President Trump to create a robust domestic supply for critical minerals derived from seabed resources. The Executive Order – ‘Unleashing America’s Offshore Critical Minerals and Resources’ – directs Commerce Secretary Lutnick to implement an expedited permitting process under the Deep Seabed Hard Mineral Resources Act DSHMRA, a statute passed by Congress in 1980, and implementing regulations of the National Oceanic and Atmospheric Administration which govern the exploration and commercial recovery of hard mineral resources from the deep seabed in international waters. The Company’s U.S. subsidiary, The Metals Company USA, is positioned to play a central role in responsibly recovering polymetallic nodules to strengthen U.S. critical mineral supply chains and in building an industrial ecosystem enabled by deep seabed minerals-an emerging sector expected to mobilize tens of billions in private investment in the United States across shipbuilding, ports, mineral processing and refining, and advanced manufacturing. TMC USA has been evaluating U.S. locations for nodule processing since 2019, in order to reshore critical mineral processing and related mid-to-downstream industries to America.