Deep Sea Minerals seeks Pacific exploration license

Deep Sea Minerals (CSE: SEAS) said it’s seeking the right to explore for polymetallic nodules in the Pacific Ocean. 

The application, submitted to the United States National Oceanic and Atmospheric Administration (NOAA) under the Deep Seabed Hard Mineral Resources Act (DSHMRA), focuses on a defined area of the Clarion-Clipperton Zone in the Pacific Ocean, the company said.  

It includes technical, environmental, and operational information required under NOAA’s regulations, including baseline environmental data, proposed monitoring, and mitigation measures, and a description of planned exploration activities with associated expenditures. Further details weren’t immediately available.

The submission follows a similar move by Vancouver-based The Metals Company (NASDAQ: TMCWW), which applied two months ago for an exploration license and a commercial recovery permit for polymetallic nodules in international waters of the Clarion Clipperton Zone. That application covers about 65,000 sq. km.

Faster reviews

NOAA, which regulates mineral exploration and recovery by qualified U.S. entities in international waters, recently pledged to speed up its review process, saying it would “provide the necessary resources for license and permit reviews to ensure that those reviews go forward without undue delays.” 

U.S. President Donald Trump signed an executive order last year aimed at boosting the deep-sea mining industry, marking his latest attempt to increase U.S. access to nickel, copper and other critical minerals used widely across the economy. 

Deep Sea Minerals’ submission “represents an initial step in the regulatory process under DSHMRA,” CEO James Deckelman said in a statement. “We have structured the application to align with NOAA’s requirements and to outline a phased approach that includes environmental data collection and ongoing evaluation. We look forward to NOAA’s review and to engaging as part of that process.”