Companies respond to Trump’s call for deep-sea mining ventures

The ocean floor is open for business, or at least the Trump administration wants it to be. Following an executive order signed in April 2025 directing federal agencies to fast-track deep-sea mining initiatives, a wave of companies has lined up to stake claims on underwater mineral deposits. At least nine firms are currently in discussions with regulators to access seabed resources rich in copper, cobalt, and other minerals the US considers strategically vital.

The Metals Company, trading as TMC, has positioned itself at the front of the pack. The firm submitted what regulators deemed a compliant application under the 1980 Deep Seabed Hard Mineral Resources Act. TMC’s application is now undergoing a public comment period.

The race to the bottom (of the ocean)

TMC is targeting commercial production of polymetallic nodules by the end of 2027, building on a 2022 test run that collected 3,000 metric tons of material from the seafloor.

Investor enthusiasm has tracked the regulatory momentum. TMC shares reached a peak of $8.19 during a surge in interest tied to the administration’s push.

The competitive landscape is consolidating rapidly. Copperhead Resources rebranded itself as Deep Sea Minerals Corp. Meanwhile, AOMC and Odyssey Marine Exploration have formed a partnership aiming for an approximate $1 billion valuation.

The geography of interest spans several key regions. The Clarion-Clipperton Zone, a massive stretch of Pacific Ocean floor between Hawaii and Mexico, remains the primary target. Mineral auctions are also being prepared for waters near American Samoa, the Mariana Islands, and Alaska.

Why the urgency

China dominates global processing and refining of many critical minerals, controlling supply chains that feed everything from electric vehicle batteries to military hardware. Deep-sea mining offers the US a potential workaround, accessing raw materials without routing them through geopolitical competitors.

The 1980 law that TMC filed under was originally designed during Cold War anxieties about resource independence. The Trump administration has effectively resurrected it, treating it as a ready-made legal framework for licensing American companies to mine international waters before a broader international regulatory regime takes shape.

More than 40 nations have called for a moratorium on deep-sea mining until the environmental risks are better understood. The US, which never ratified the UN Convention on the Law of the Sea, has taken the position that it can proceed under its own domestic law.

The opposition gathers

Environmental groups and Indigenous communities have mounted significant resistance. Over 5,500 deep-sea species have been documented in proposed mining zones, many of them found nowhere else on Earth.

Legal challenges arrived in late August and early September 2026, with lawsuits filed against proposed lease sales. The litigation targets the procedural and environmental review processes underpinning the administration’s approach.

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