TMC Clears US Permit Hurdle Amid Deep-Sea Mining Debate

TMC's regulatory advance in the US permitting process for deep-sea mining in the Clarion-Clipperton Zone, located near Mexican waters,  intensifies the global governance debate at the ISA, where approximately 40 countries back a moratorium, and places Mexico's cautious policy stance, which shifted from supporting accelerated ISA regulations to endorsing a moratorium in late 2023, at the center of a fragmented international framework with implications for critical minerals supply chains and marine resource governance.

The Metals Company (TMC) has cleared a key regulatory hurdle in its bid to mine the Pacific Ocean floor after the National Oceanic and Atmospheric Administration (NOAA) deemed its application for an exploration licence and commercial recovery permit "in substantial compliance" with revised US regulations, a development that drew immediate condemnation from Greenpeace International and added pressure to ongoing international negotiations over deep-sea mining governance.

The consolidated application covers a commercial recovery area of approximately 65,000 km², more than double the 25,000 km² in its previous application. The licensed area contains an estimated resource of 619Mt of wet nodules and potential exploration upside of an additional 200Mt. Shares of TMC rose as much as 4% to US$6.00 apiece in New York following the announcement, giving the company a market capitalization of US$2.42 billion.

In January, NOAA revised the Deep Seabed Hard Mineral Resources Act to combine the exploration licence and commercial recovery permitting processes into a single step. The revision followed an executive order signed by President Donald Trump in July 2025 aimed at bolstering the deep-sea mining industry, part of a broader effort to counter China's dominance in the critical minerals supply chain.

TMC, through its US subsidiary, was the first company to submit a consolidated application under the streamlined process, replacing an application it filed in April 2025 under the previous regulations.

"NOAA's determination reflects the depth of work our team and partners have put into understanding this resource and how it can be responsibly developed," said Gerard Barron, chairman and CEO of TMC. "After more than a decade of environmental research, successful offshore trials and commercial-scale metallurgical processing, we believe polymetallic nodules can provide a new and lower-impact source of critical metals for the US."

The company has targeted the Clarion-Clipperton Zone (CCZ) in the Pacific, located between Hawaii and Mexico, where seafloor nodules contain manganese, nickel, copper and cobalt,  metals used in electric vehicle batteries. California-based Impossible Metals has also applied for exploration rights in the CCZ, both under US law and through the International Seabed Authority (ISA).

TMC's regulatory advance comes as governments gather in Kingston, Jamaica, from March 9 to 20 for an ISA meeting to continue negotiations on a mining code that could open the door to commercial seabed mining. The ISA, established under the United Nations Convention on the Law of the Sea (UNCLOS), is the sole authority to regulate mining in seabed areas beyond national jurisdiction.

Greenpeace International said TMC's application for licences from the Trump administration violates its existing contracts under international law, and urged the ISA to consider not renewing TMC's contract, alleging the company breached "core contractual obligations under the United Nations Convention on the Law of the Sea."

Samantha Robb, Senior Associate, Ocean Vision Legal, has warned that unilateral mining actions conflict with UNCLOS provisions designating the deep seabed and its resources as the "common heritage of humankind," and would bypass mechanisms designed to ensure equitable distribution of financial benefits and environmental protections.

As of December 2025, approximately 40 countries back a moratorium on deep-seabed mining, citing environmental and governance uncertainity. Emma Wilson, Policy Lead, Deep Sea Conservation Coalition, said dozens of key issues in the proposed mining code remain unresolved, including environmental protections, benefit-sharing rules and the rights of Indigenous peoples. A moratorium, she said, would give governments time to resolve legal and technical questions without halting negotiations or scientific research.

The deep-sea mining debate also intersects with the High Seas Treaty, formally known as the BBNJ Agreement, which entered into force on Jan. 17 and aims to strengthen conservation of marine biodiversity in international waters. David Willima, the Deep Sea Conservation Coalition's Africa regional lead, warned that allowing deep-sea mining now could undermine the treaty before it is fully implemented, and that an influx of seabed minerals could oversupply global markets and destabilize terrestrial mining sectors that many economies depend on.

Interest in seabed mining has grown over the past two years. For instance, Lockheed Martin has resumed Pacific seabed mining plans through a UK subsidiary, and Deep Sea Minerals Corp joined the US Defense Industrial Base Consortium last month and announced it is on track to proceed with its NOAA licence application. 

Mexico’s Evolving Position on Deep-Sea Mining

Mexico has not yet engaged in marine mining but holds significant potential, ranking 12th globally for marine area and located near prolific seabed mineral regions. An early signatory and ratifier of the United Nations Convention on the Law of the Sea (UNCLOS), Mexico has been active in International Seabed Authority discussions. 

Santiago Suárez, Partner, SLM, told MBN that Mexico’s stance on deep-sea mining has evolved: while it initially supported accelerating the ISA’s regulatory processes in July 2023, by November 2023 it joined 25 other nations in calling for a moratorium on seabed mining.

Through a joint statement from the Ministry of Environment and Natural Resources and the Ministry of Foreign Affairs, Mexico urged other countries to suspend seabed mining in national jurisdictions and the high seas until adequate environmental impact studies are completed. The country also announced it will not endorse international licenses until these conditions are met but remains open to collaborating with the ISA once regulations are established, likely adjusting its position within a framework of international legal certainty.