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'No Doubt' Canadian Firm Will Be First to Extract Deep Sea Minerals: CEO
- On June 4, 2025, the Government of Nauru and The Metals Company signed a revised Sponsorship Agreement for deep-sea mining in the Clarion Clipperton Zone.
- This agreement follows ongoing delays by the International Seabed Authority in adopting exploitation regulations, which have hindered Nauru's commercial mining progress despite its special rights under UNCLOS.
- The partnership builds on over a decade of mineral exploration in the zone, includes extensive environmental research, and aligns with sustainable ocean resource use for future generations.
- TMC announced a $37 million capital injection aimed at speeding up its development efforts, leading to a 12.62% rise in its stock price. CEO Gerard Barron highlighted the company’s strong dedication to responsible development that benefits the people of Nauru.
- The updated agreement signals strengthened collaboration to advance critical metal extraction crucial for energy and technology, reinforcing Nauru's leadership in shaping the industry despite regulatory uncertainties.
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Supported by Donald Trump, companies plan to extract raw materials from the deep sea, but there are unresolved technical hurdles.
·Zürich, Switzerland
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'No doubt' Canadian firm will be first to extract deep sea minerals: CEO
The head of submarine mining pioneer The Metals Company told AFP he had "no doubt" the Canadian firm would be the first to to extract coveted minerals from the deep seas, with help from Donald Trump.
·Missoula, United States
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The CEO of The Metals Company (TMC) Gerard Barron has "no doubt", his pioneering company in underwater mining exploration will be the first to extract the coveted minerals on the high seas, thanks to a boost from Donald Trump, he assures in a Thursday interview with the AFP in New York.
·Montreal, Canada
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Total News Sources51
Leaning Left13Leaning Right6Center9Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
C 32%
R 21%
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