US Regulators Greenlight Deep-Sea Mining for The Metals Company
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Show Notes
U.S. regulators approve The Metals Companys deep-sea mining application, marking a significant step towards obtaining a final permit to extract minerals from the ocean floor. This move aims to secure domestic supplies and reduce dependence on foreign sources, primarily from China. The companys application now covers sixty-five thousand square kilometers, surpassing the initial twenty-five thousand, positioning them as a leader in the race for seabed resources. However, they must still navigate a full Environmental Impact Statement and potential environmental risks before securing a final permit by 2027. Despite heavy losses and pre-revenue status, The Metals Company is poised to pioneer commercial ocean mining if they successfully clear environmental and financial hurdles.
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