US Dives Deep for Offshore Nickel, Cobalt, and Rare Earth Treasures
Published Date: 4/29/2025
Presidential Document
Summary
The U.S. is jumping into action to explore and develop valuable minerals found deep under the ocean near our shores. This move helps secure important materials like nickel and rare earth elements, which are crucial for our economy, energy, and national security. Expect faster permits, new tech investments, and stronger teamwork across agencies starting now, all aimed at making America a global leader in offshore mineral resources.
Analyzed Economic Effects
9 provisions identified: 8 benefits, 0 costs, 1 mixed.
Faster Licenses for Deep-Sea Mining
Within 60 days of April 24, 2025 (by June 23, 2025), the Secretary of Commerce (through NOAA) must expedite review and issuance of seabed mineral exploration licenses and commercial recovery permits under the Deep Seabed Hard Mineral Resources Act. The expedited process must aim for efficiency, predictability, and competitiveness for American companies.
Quicker Offshore Lease and Permit Decisions
Within 60 days of April 24, 2025 (by June 23, 2025), the Secretary of the Interior must establish an expedited process for reviewing and approving permits and granting leases for prospecting, exploration, development, and production of seabed minerals on the United States Outer Continental Shelf under the Outer Continental Shelf Lands Act. The expedited process must aim for efficiency, predictability, and competitiveness for American companies.
Push for Domestic Processing and Financing
The Secretaries of Defense and Energy must review and revise regulations to support domestic processing capabilities for seabed minerals and explore using grant and loan authorities, the Defense Production Act, and other procurement and financing authorities to support processing. This action is directed as part of reports and regulatory review following the order.
Study Use of Defense Stockpile and Offtake Deals
Within 60 days of April 24, 2025 (by June 23, 2025), the Secretary of Defense and the Secretary of Energy must report on the feasibility and potential benefits or drawbacks of using the National Defense Stockpile for physical or virtual storage of materials from seabed polymetallic nodules and of entering offtake agreements for those materials.
National Seabed Mapping Plan
Within 60 days of April 24, 2025 (by June 23, 2025), the Secretary of Commerce must, in cooperation with other agencies and non-governmental organizations, develop a plan to map priority seabed areas (prioritizing the U.S. Outer Continental Shelf) to accelerate data collection and characterization of undersea resources.
Report on Private-Sector Interest and Processing Capacity
Within 60 days of April 24, 2025 (by June 23, 2025), the Secretary of Commerce (with Interior and Energy) must report identifying private-sector interest and opportunities for seabed mineral exploration, mining, environmental monitoring, and for seabed mineral processing capacity in the United States or on U.S.-flagged vessels.
Finance Agencies to ID Support Tools
Within 60 days of April 24, 2025 (by June 23, 2025), the CEO of the U.S. International Development Finance Corporation, the President of the Export-Import Bank, the Director of the Trade and Development Agency, and other relevant agency heads must provide a joint report identifying tools to support domestic and international seabed mineral exploration, extraction, processing, and environmental monitoring.
Identify Seabed-Derived Critical Minerals
The Secretary of the Interior must identify which critical minerals may be derived from seabed resources and coordinate with the Secretaries of Defense and Energy to indicate which of those minerals are essential for defense, manufacturing, and energy applications.
International Engagement and Benefit-Sharing Study
Within 60 days of April 24, 2025 (by June 23, 2025), the Secretary of Commerce (with State, Interior, and Energy) must engage with partners and allies to offer support for seabed mineral activities in their jurisdictions and provide a joint report on the feasibility of an international benefit-sharing mechanism for seabed mineral extraction beyond national jurisdiction.
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