Latest news with #InternationalSeabedAuthority
Japan Today
3 days ago
- Business
- Japan Today
Trump's drive for ocean bed mining threatens law of the sea
US President Donald Trump signed an executive order in April to expand permitting for deep-sea mining in both domestic and international waters using an obscure 1980 US law By Amélie BOTTOLLIER-DEPOIS U.S. President Donald Trump's move to sidestep global regulations and begin pushing for seabed mining in international waters could pose a wider threat of competing countries claiming sovereignty over the ocean, experts say. Trump last month signed an executive order to accelerate the permit-granting process for deep-sea mining in domestic and international waters, citing an obscure 1980 U.S. law. And the Canadian deep-sea mining frontrunner The Metals Company has already filed an application in the United States to conduct commercial mining on the high seas -- bypassing the International Seabed Authority (ISA). This is the body entrusted by a United Nations convention with managing the ocean floor outside of national jurisdictions. Ocean law is largely guided by that accord -- the United Nations Convention on the Law of the Sea (UNCLOS), first signed in 1982 to prevent "a competitive scramble for sovereign rights over the land underlying the world's seas and oceans," according to Maltese diplomat Arvid Pardo, the convention's forebearer. The United States never ratified the convention, which took effect in 1994, though it has applied many of its clauses. Coalter Lathrop, an attorney at the U.S. law firm Sovereign Geographic, told AFP that the United States is "a huge beneficiary of the parallel set of customary international law rules" despite not being a party to UNCLOS. For instance, the United States has one of the largest Exclusive Economic Zones (EEZ) which gives states sovereignty over maritime areas up to 200 nautical miles (370 kilometers) from their coastline -- protecting them from foreign fishing boats, among other extractive industries. If the U.S. enjoys the benefits of ocean law, Lathrop argues, "but then you disregard the other part of the package deal -- that the seabed and its minerals in areas beyond national jurisdiction are the common heritage of humankind -- that is going to be destabilizing, to say the least, for the general legal order of the oceans." "U.S. unilateral permitting could lead to the disintegration of a system that has been carefully curated and created by the United States, largely for its own benefit," he added. The U.S. and Canadian moves sparked an international outcry from ISA member states, including China, whose foreign ministry spokesman warned it violates international law. ISA secretary general Leticia Carvalho expressed similar concern, saying that "any unilateral action... sets a dangerous precedent that could destabilize the entire system of global ocean governance." The Metals Company does maintain contracts with ISA members like Japan -- where it has a partnership with smelting company Pamco. And experts note such ISA member states could invoke their obligation to UNCLOS to enforce maritime law on The Metals Company via these proxies, even if it ultimately receives a permit from the Trump administration. Guy Standing, an economist at the University of London, told AFP: "It's the most dangerous thing he's done so far," referring to Trump. If marine laws "were to come sort of unraveled," Standing said, "you could have a carve up in different parts of the world, with Russia, China and America carving up the Arctic." However, not all scholars in the field are in agreement. James Kraska, a professor of international maritime law at U.S. Naval War College, said "it's naive to think the United States has that kind of influence." "I just disagree with the people that are saying that it's somehow a legal obligation to comply with a treaty that you never joined," he told AFP. "I just can't see any way that it's unlawful. I understand that there's sort of political opposition to it, but I would just distinguish between politics and the law." © 2025 AFP
National Post
6 days ago
- Business
- National Post
The CEO of a Vancouver-based company has figured out how to collaborate with Trump
Article content America and China have tapped the brakes on a spiralling tariff war. But there are other points of fierce competition between these two nations that haven't abated — including the race for rare earth metals. In late March, U.S. President Donald Trump signed an executive order to fast-track the mining of critical minerals in a new frontier, the deep sea, a move intended to give America a competitive edge over China. Article content Article content Article content And in an odd twist, it's a Vancouver-based corporation, The Metals Company, that's been lobbying power brokers in Washington to bypass multilateral United Nations conventions and set a unilateral pathway for commercial mining of deep sea minerals. The company has announced its U.S. subsidiary will apply for a U.S. mining permit to harvest mineral nodules lying 5,000 metres deep in the Clarion-Clipperton zone of the Pacific Ocean. Article content Article content Officials at the International Seabed Authority — the UN-backed regulator responsible for setting the rules for deep sea mining in international waters — aren't happy. Trump's decision to revive a 1980-era U.S. mining law that predates the 1982 United Nations Convention on the Law of the Sea (UNCLOS), a convention the U.S. has not signed or ratified, flies in the face of how the UN prefers to see things done. Article content With the stage set for a showdown between Trump's executive order and UN conventions, I'm curious to find out what Gerard Barron, the CEO of The Metals Company, has to say. Article content Gerard's in Sydney, Australia, when we connect. The public company's first quarter results for 2025 have just been released; The Metals Company shares jumped nearly 83 per cent in April, and the stock is up 180 per cent in 2025. To say Gerard is bullish would be an understatement. With a trillion dollars worth of metals sitting on the seabed floor in their licence areas, Gerard declares, the company should be worth far more than a couple of billion, Canadian. Article content Article content The son of Aussie dairy farmers, Gerard is now a jet-setting entrepreneur splitting his time between London and Dubai, and more recently spending a lot of time lobbying in Washington, D.C., and some time at corporate offices in Toronto. Sporting a black T-shirt and frequently running a hand through his thick hair as he speaks, candidly and confidently, it's not difficult to imagine why this deep sea mining pioneer has been dubbed 'the Elon Musk of Australia.' Gerard bristles at the comparison: 'There is no equivalent to Elon Musk.' But he does confirm the company's vice-chair, Steve Jurvetson, is well connected to Musk.
Scoop
23-05-2025
- Business
- Scoop
Deep Sea Mining Frontrunner Set To Sidestep UN Oversight , Pivots To US Route
The Metals Company, which has been supported by Nauru and Tonga, has confirmed it won't apply for a mining licence through the International Seabed Authority. Caleb Fotheringham, RNZ Pacific Journalist , RNZ Pacific Senior Journalist Deep sea mining frontrunner The Metals Company (TMC) has confirmed it will not apply for a mining license through the International Seabed Authority (ISA) in June, instead it will exclusively apply through US regulations. It is unclear what this means for both Nauru and Tonga, who have sponsored TMC at the ISA. However, the firm's chief executive Gerard Barron said the company would still renew its subsidiary Nauru Ocean Resources' (NORI) exploration licence. 'We will be renewing that because NORI is in full compliance. There is no legal basis on which that licence cannot be renewed,' he said during the company's first quarter update of 2025. TMC's mining application through US regulations was made possible through an executive order last month by President Donald Trump. The company's application covers 25,000 square kilometres in the Clarion Clipperton Zone – located in the international waters in north Pacific between Hawai'i and Mexico. Barron said the block was 'not claimed by any other sovereign'. 'While there is an ability to lay claim over grounds currently under license through the ISA by other countries we made a deliberate plan not to do that.' Barron added that Tonga and Nauru are supportive of TMC's moves. However, China's Ambassador to Nauru Lu Jin said that the US trampled on the United Nations Convention on the Law of the Sea (UNCLOS) by creating a mechanism to allow for deep sea mining outside of the ISA. During a meeting with Nauru's President David Adeang, Lu said China and Nauru should work together to safeguard Nauru's interests in deep sea mining, adding China would push the ISA to accelerate mining progress. Deep Sea Conservation Coalition's Phil McCabe said China's deep sea mining interest in the region is growing. 'This is the third Pacific Island country that China has spoken to on deep sea mining and looking for greater cooperation with, following the Cook Islands sealed deal on cooperation and discussions with Kiribati as well.' ISA secretary general Leticia Carvalho claimed the US had no authority to offer permits in the Clarion-Clipperton Zone. 'Circumventing the regulatory authority of the ISA not only breaches international law, but also erodes trust,' Carvalho said. Carvalho said TMC had been 'very pushy' on trying to get mining rules approved at the ISA, so the company pivoting to the US was 'not completely unforeseen'. 'The new administration of the US aligns with a number of issues regarding employment generation, security, also regarding the fact that they're somehow behind China in possession of the minerals.' Juressa Lee with Greenpeace Aotearoa said the Trump administration is acting outside of multilateralism. 'This sets a very, very low bar and a terrible precedent for other countries, [ISA] member states and wannabe deep sea mining companies to follow.' Despite criticism, TMC's share price has quadrupled since the beginning of this year. Barron believes the price was held back by a lack of a clear regulatory pathway, which he sees is now secure through the US regulations. 'We believe this US-based pathway offers the greatest probability of receiving a commercial permit in a timely, transparent and legally robust manner, giving us clear line of sight to responsible commercial operations.' Barron expects the commercial recovery permit to be deemed complaint prior to the end of June, TMC will then go through an environmental review if successful.
Scoop
23-05-2025
- Business
- Scoop
Deep Sea Mining Frontrunner Set To Sidestep UN Oversight , Pivots To US Route
The Metals Company, which has been supported by Nauru and Tonga, has confirmed it won't apply for a mining licence through the International Seabed Authority. Caleb Fotheringham, RNZ Pacific Journalist , RNZ Pacific Senior Journalist Deep sea mining frontrunner The Metals Company (TMC) has confirmed it will not apply for a mining license through the International Seabed Authority (ISA) in June, instead it will exclusively apply through US regulations. It is unclear what this means for both Nauru and Tonga, who have sponsored TMC at the ISA. However, the firm's chief executive Gerard Barron said the company would still renew its subsidiary Nauru Ocean Resources' (NORI) exploration licence. 'We will be renewing that because NORI is in full compliance. There is no legal basis on which that licence cannot be renewed,' he said during the company's first quarter update of 2025. TMC's mining application through US regulations was made possible through an executive order last month by President Donald Trump. The company's application covers 25,000 square kilometres in the Clarion Clipperton Zone – located in the international waters in north Pacific between Hawai'i and Mexico. Barron said the block was 'not claimed by any other sovereign'. 'While there is an ability to lay claim over grounds currently under license through the ISA by other countries we made a deliberate plan not to do that.' Barron added that Tonga and Nauru are supportive of TMC's moves. However, China's Ambassador to Nauru Lu Jin said that the US trampled on the United Nations Convention on the Law of the Sea (UNCLOS) by creating a mechanism to allow for deep sea mining outside of the ISA. During a meeting with Nauru's President David Adeang, Lu said China and Nauru should work together to safeguard Nauru's interests in deep sea mining, adding China would push the ISA to accelerate mining progress. Deep Sea Conservation Coalition's Phil McCabe said China's deep sea mining interest in the region is growing. 'This is the third Pacific Island country that China has spoken to on deep sea mining and looking for greater cooperation with, following the Cook Islands sealed deal on cooperation and discussions with Kiribati as well.' ISA secretary general Leticia Carvalho claimed the US had no authority to offer permits in the Clarion-Clipperton Zone. 'Circumventing the regulatory authority of the ISA not only breaches international law, but also erodes trust,' Carvalho said. Carvalho said TMC had been 'very pushy' on trying to get mining rules approved at the ISA, so the company pivoting to the US was 'not completely unforeseen'. 'The new administration of the US aligns with a number of issues regarding employment generation, security, also regarding the fact that they're somehow behind China in possession of the minerals.' Juressa Lee with Greenpeace Aotearoa said the Trump administration is acting outside of multilateralism. 'This sets a very, very low bar and a terrible precedent for other countries, [ISA] member states and wannabe deep sea mining companies to follow.' Despite criticism, TMC's share price has quadrupled since the beginning of this year. Barron believes the price was held back by a lack of a clear regulatory pathway, which he sees is now secure through the US regulations. 'We believe this US-based pathway offers the greatest probability of receiving a commercial permit in a timely, transparent and legally robust manner, giving us clear line of sight to responsible commercial operations.' Barron expects the commercial recovery permit to be deemed complaint prior to the end of June, TMC will then go through an environmental review if successful.
RNZ News
21-05-2025
- Business
- RNZ News
Metals company take US route for mining license
Deep sea mining front runner The Metals Company has confirmed it will not apply for a mining license through the International Seabed Authority in June, instead it will apply exclusively through US regulations.
