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 ...