![]() ![]() Other companies are also hesitant to rely on U.S. Lockheed has two permits from NOAA for exploration in international waters, but hasn't used them, citing the “lack of international recognition” of its licenses because the U.S. That leaves companies who want to take advantage of the U.S.'s own seabed mining rules, like Lockheed Martin Corp., in a legal gray area. ![]() While the Biden administration supports the treaty, there's no movement afoot to ratify it - it would require a supermajority vote, and most Republicans aren't on board. touts its exploration rights there as potentially containing enough minerals to build more than 250 million EV batteries. One deep-sea region between Hawaii and Mexico contains more copper, cobalt, nickel and manganese than is known in all land deposits combined. missing an opportunity?" asked Gerard Barron, CEO and chair of The Metals Co., a Canadian mining firm pushing for more seabed exploration. If foreign entities are able to secure the minerals first, it will further America’s reliance on other countries, as deep-sea mining companies have to be based in a country that's party to the agreement. Mining proponents say that could jeopardize the Biden administration's push for climate-friendly technologies and domestic supply chains. ![]() can’t take advantage of them because it’s never had enough political support to ratify the U.N.’s 1982 Convention on the Law of the Sea, which governs the use of ocean resources, as our Jordan Wolman reports. The European Union and 167 countries are working out rules this month governing the mining of deep-sea deposits, some of the richest sources of manganese, cobalt, copper and nickel that are ingredients in solar panels, wind turbines and electric-vehicle batteries.īut the U.S. ![]() But the United States is passing up a prime opportunity to get them. MINING THE GAP - Critical minerals are key to a lot of sustainability goals: solar panels, wind turbines and batteries, for grid storage and vehicles. conducts deep-water sampling in the Pacific Ocean. ![]()
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