At least nine companies are seeking federal permits to mine the ocean floor after President Donald Trump signed an executive order in April 2025 directing agencies to fast-track the permitting process for deep-sea mining operations. The move represents the first major push to establish a commercial seabed mining industry in U.S. waters.

Trump's executive order designated seafloor minerals as vital to America's economic prosperity and trade independence from China, instructing the National Oceanic and Atmospheric Administration and the Bureau of Ocean Energy Management to expedite permit approvals. BOEM plans to hold its first lease sale as early as August for areas from Alaska to American Samoa, while NOAA has streamlined its application process and aims to review 16 applications in the next fiscal year.

The companies seeking permits include The Metals Company, which has conducted deep-water testing and maintains close ties to the Trump administration, and Odyssey Marine Exploration, a former treasure-hunting firm now pursuing offshore mining. Other applicants include Impossible Metals, American Metal Resources, SeaX, Deep Sea Minerals Corp., and Deep Sea Rare Minerals. These companies are targeting polymetallic nodules containing manganese, copper, nickel, and cobalt that formed over millions of years on the ocean floor.

However, industry analysts and mining consultants have raised questions about the economic viability of seabed mining operations. The Metals Company's own feasibility study projects the company would break even only in its eighth year of operations, the same year it forecasts its mineral reserves would be exhausted. Mining economist Ian Lange noted that fully permitted copper and cobalt mines on land remain inactive, questioning whether demand justifies deep-sea operations.

Additional challenges include the lack of U.S. processing facilities for the extracted minerals and potential legal complications with international partners. Most countries participating in deep-sea mining are bound by International Seabed Authority agreements, which could create legal risks for foreign companies assisting U.S. operations. Despite these concerns, company executives remain optimistic, with some projecting commercial production could begin by 2028.