The Metals Company (NASDAQ:TMC) has asked the Trump Administration for approval to mine the Pacific Ocean seabed for critical metals, bypassing a United Nations-backed process that governs international waters.
According to Bloomberg, the firm, already licensed by the International Seabed Authority (ISA), is now seeking US backing via a pre-application with the National Oceanic and Atmospheric Administration.
TMC says the US election result opened the door for the move, which could undermine decades of international negotiations. Environmental groups warn it risks triggering a global regulatory breakdown.