Sea Mining Stocks Soar As Trump Signs Executive Order To Jumpstart Sector

U.S. President Donald Trump signed an executive order Thursday to jumpstart the U.S. deep-sea mining industry. Trump seeks to secure domestic access to critical resources through this initiative and reduce America's dependence on foreign supply chains for increasingly important commodities.

"The United States has a core national security and economic interest in maintaining leadership in deep-sea science and technology and seabed mineral resources," Trump stated in the order, signed privately on Thursday.

The directive empowers agencies to expedite permits for mining on the U.S. Outer Continental Shelf and in international waters under the Deep Seabed Hard Mineral Resources Act of 1980. It also mandates reports and strategies across agencies to identify domestic and global seabed mineral extraction and processing opportunities.

Trump's decision aligns with growing pressure from mining companies and U.S. allies to challenge China's global critical minerals market dominance. Vast fields of polymetallic nodules — rock-like deposits rich in nickel, manganese, and copper — are scattered across the seafloor, especially in the Pacific Ocean.

Yet the international community remains divided. The International Seabed Authority (ISA), formed under the United Nations Convention on the Law of the Sea, has yet to finalize regulations for commercial deep-sea mining. Last month's (March) convention in Kingston, Jamaica, failed to achieve a breakthrough, and the organization has yet to finalize commercial deep-sea mining regulations. 

The U.S. is not a signatory to the convention but recognizes ISA's role in overseeing activities in international waters. A lack of consensus over permissible noise, dust, and sediment disturbance has delayed the rulemaking process for over a decade.

Environmental advocates have fiercely criticized the move. Oceanographic Magazine called the decision "an environmental disaster in the making," stating that the order would "open one of Earth's most fragile and least understood ecosystems to reckless industrial exploitation."

"The deep ocean belongs to everyone, and protecting it is humanity's global duty. The sea floor environment is not a platform for ‘America First' extraction," added Emily Jeffers, a senior attorney at the Center for Biological Diversity.

Despite the uncertainty, companies are already racing ahead. The Metals Company (NYSE:TMC) announced last month it would seek a license through the U.S. government, bypassing ISA. Shares of TMC soared more than 44%, closing at $3.69 after yesterday's announcement.

Odyssey Marine Exploration (NASDAQ:OMEX), another deep-sea player, saw its stock more than double, closing at $0.85. The company specializes in underwater mineral exploration and has been discussing potential licensing opportunities with the National Oceanic and Atmospheric Administration.

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