Vancouver company turns to Trump for permission to mine international waters, bypassing a UN agency
Article content
SAN JUAN, Puerto Rico — A Canadian company announced Tuesday that its U.S. subsidiary has submitted applications to the National Oceanic and Atmospheric Administration to mine the sea floor, sparking outrage by bypassing a U.N. agency that regulates deep international waters.
Article content
Article content
The Metals Company, based in Vancouver, said it was seeking two exploration licences and a commercial recovery permit, making it the first company to apply to commercially mine the seabed.
Article content
Article content
The filing is expected to spark a complex legal battle since the Jamaica-based International Seabed Authority, a United Nations agency that regulates international deepsea waters, has the power to authorize exploitation permits.
Article content
Article content
'Any commercial exploitation outside of national jurisdiction carried out without the authorization of ISA would constitute a violation of international law,' the authority said in late March after The Metals Company announced its intention to seek permission from the U.S. government to start deepsea mining in international waters.
Article content
There are no regulations in place to oversee such mining as scientists warn that extracting minerals from vital ecosystems that help regulate climate change could cause permanent damage.
Article content
Article content
The filing comes less than a week after U.S. President Donald Trump issued an executive order that directs the Secretary of Commerce to expedite the review and issuance of exploration and commercial recovery permits, among other things.
Article content
Article content
'With these applications, we are offering the United States a shovel-ready path to new and abundant supplies of nickel, copper, cobalt, and manganese — critical metals for energy, infrastructure and defence,' Gerard Barron, chairman and CEO of The Metals Company, said in a statement.
Article content
Environmentalists and activists decried the move, saying that ISA has the sole power to authorize exploitation permits.
Article content
'This unilateral American effort to carve up the Pacific Ocean already faces fierce international opposition,' said Ruth Ramos, Greenpeace's international senior campaigner. 'Governments around the world must now step up to defend international rules and co-operation against rogue deepsea mining.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
3 hours ago
- Winnipeg Free Press
Manitoba trade council meets
Manitoba's trade council met Friday to discuss the province's ongoing trade relationship with the United States. Premier Wab Kinew announced the meeting in a news release, adding it featured discussion about the province's ongoing wildfire situation and a report back from the first ministers meeting. Business, Mining, Trade and Job Creation Minister Jamie Moses updated the council on the passage of Manitoba's free trade legislation, new legislation to make it easier to trade with other provinces and territories, new funding to support research and attract American talent to Manitoba and the province's work with Selkirk's Gerdau steel mill to mitigate the impact of new steel tariffs. The province continues to offer tax deferrals for businesses affected by tariffs and wildfires. Formed in January, the trade council includes more than a dozen leaders from the private sector, business associations and labour groups. — Free Press staff
Winnipeg Free Press
3 hours ago
- Winnipeg Free Press
Trump clears path for Nippon Steel investment in US Steel, so long as it fits the government's terms
WASHINGTON (AP) — President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a 'national security agreement' submitted by the federal government. Trump's order didn't detail the terms of the national security agreement. But U.S. Steel and Nippon Steel said in a joint statement that the agreement stipulates that approximately $11 billion in new investments will be made by 2028 and includes giving the U.S. government a 'golden share' — essentially veto power to ensure the country's national security interests are protected. 'We thank President Trump and his Administration for their bold leadership and strong support for our historic partnership,' the two companies said. 'This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again.' The companies have completed a U.S. Department of Justice review and received all necessary regulatory approvals, the statement said. 'The partnership is expected to be finalized promptly,' the statement said. The companies offered few details on how the golden share would work and what investments would be made. Trump said Thursday that he would as president have 'total control' of what U.S. Steel did as part of the investment. Trump said then that the deal would preserve '51% ownership by Americans.' The Japan-based steelmaker had been offering nearly $15 billion to purchase the Pittsburgh-based U.S. Steel in a merger that had been delayed on national security concerns starting during Joe Biden's presidency. Trump opposed the purchase while campaigning for the White House, yet he expressed optimism in working out an arrangement once in office. 'We have a golden share, which I control,' said Trump, although it was unclear what he meant by suggesting that the federal government would determine what U.S. Steel does as a company. Trump added that he was 'a little concerned' about what presidents other than him would do with their golden share, 'but that gives you total control.' Still, Nippon Steel has never said it was backing off its bid to buy and control U.S. Steel as a wholly owned subsidiary. The proposed merger had been under review by the Committee on Foreign Investment in the United States, or CFIUS, during the Trump and Biden administrations. The order signed Friday by Trump said the CFIUS review provided 'credible evidence' that Nippon Steel 'might take action that threatens to impair the national security of the United States,' but such risks might be 'adequately mitigated' by approving the proposed national security agreement. Monday Mornings The latest local business news and a lookahead to the coming week. The order doesn't detail the perceived national security risk and only provides a timeline for the national security agreement. The White House declined to provide details on the terms of the agreement. The order said the draft agreement was submitted to U.S. Steel and Nippon Steel on Friday. The two companies must successfully execute the agreement as decided by the Treasury Department and other federal agencies that are part CFIUS by the closing date of the transaction. Trump reserves the authority to issue further actions regarding the investment as part of the order he signed on Friday. ___ Associated Press writer Marc Levy in Harrisburg, Pa., contributed to this report.
Vancouver Sun
4 hours ago
- Vancouver Sun
Thousands of B.C. reservations at risk due to short-term rental regulations: Airbnb
Airbnb, the short-term vacation rental platform, says thousands of reservations in B.C. are at risk of being cancelled and accused the province of rushing out regulations as it cracked down on the industry. Alex Howell, Airbnb's Canadian policy lead, said that the rules requiring short-term rental hosts to confirm that their listings are legal under the changes have already led to some bookings being cancelled. The government has said platforms such as Airbnb can't post B.C. listings without confirming their registration with the province, but Howell said many hosts whose properties qualify can't register due to glitches and other problems with the government's system. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. 'Typically, we would have worked with a government for six months to do live testing, to make sure that things are working the way they should,' Howell said. 'And unfortunately in this situation, B.C. really just rushed into launching the system that hadn't been fully tested, and that's what's brought us to this situation.' She said that property owners have reported that typos and formatting errors have prevented them from registering with the province, despite meeting all the legal criteria for hosting short-term rentals. The province had said that short-term rentals are being restricted to principal residences, a secondary suite or a structure such as a laneway house on the property, and the policy is meant to open up more units in B.C.'s rental housing market. Howell said the timing of B.C.'s latest rules on short-term rentals is especially harmful, just before the busy summer tourist season. 'Thousands of reservations across the province are now at risk,' she said. 'These are registered, compliant hosts that are failing validation protocols through no fault of their own. 'And this impacts … thousands of reservations across the province, at least 50 per cent of which are domestic travellers who are following their own government's advice to support local and travel within Canada this year.' Howell said instead of waiting until the June 23 deadline — when bookings on unregistered B.C. properties would be cancelled — Airbnb is already contacting affected hosts and guests to offer penalty-free cancellations. 'We think it's irresponsible to wait until the 23rd to alert travellers that there might be an issue,' she said. 'We're trying to get them that information ahead of time so that they can make some informed decisions.' Housing Minister Ravi Kahlon said the province is confident that 'Airbnb will find solutions to their challenges with getting listings verified ahead of the June 23 deadline.' 'We hope that Airbnb will choose to support their hosts in verifying their listings, instead of cancelling their bookings,' Kahlon said in a statement. 'This is new ground for B.C., and we are working through ServiceBC, our short-term rental branch, and the platforms themselves to help hosts comply with the requirements.' The ministry also noted that there are 65 short-term rental platforms operating in B.C., and other platforms have been successful in supporting their hosts to get registered. The Opposition B.C. Conservatives criticized the short-term rental policies of the NDP government, with Prince George-Valemount legislator Rosalyn Bird saying the regulations running counter to the province's efforts to promote local travel. 'How do you promote staycations while sabotaging the short-term rental market that makes them possible in small towns?' Bird said in the statement. 'The premier (David Eby) says 'travel within B.C.', and then his government kneecaps our ability to welcome those travellers.'
