Latest news with #deepseamining
E&E News
a day ago
- Business
- E&E News
GOP probes Pentagon compliance with deep-sea mining order
House Oversight and Government Reform Chair James Comer is probing how the Department of Defense is complying with President Donald Trump's order to unleash deep-sea mining. The Kentucky Republican asked Defense Secretary Pete Hegseth for a staff-level briefing by July 22, and cited reports and news articles to warn that China is already trying to corner the market. 'The CCP has designs to extract and commercialize these resources — and otherwise box-out the U.S. and its allies from direct access,' wrote Comer. 'The Committee seeks a staff-level briefing to understand how DOD is complying with President Trump's executive order.' Advertisement Trump inked an executive order in April that called on federal agencies to 'take immediate action' to accelerate deep-sea mining, quantify the nation's resources and 'reinvigorate' U.S. leadership in developing minerals tied to defense, infrastructure and energy.
E&E News
2 days ago
- Business
- E&E News
Interior delays offshore mineral lease amid brewing concerns
The Trump administration is taking more time to mull the first mineral lease sale in decades in U.S. waters off American Samoa at the request of the U.S. territory's governor, who opposes the effort. The Interior Department's Bureau of Ocean Energy Management on Tuesday said it's extending a public comment period on its proposal to advance deep-sea mining off the territory's shores by a month. The comment period will now go through Aug. 15. Last month, BOEM began collecting feedback on a plan to conduct leases in waters off the U.S. territory and said the comment period would end Wednesday. The move is notable given a California company, Impossible Metals, is seeking permission to explore the seas there for minerals like cobalt, lithium and nickel. Advertisement 'As we extend the comment period, we emphasize our commitment to an open process that ensures the voices of the people of American Samoa are heard and respected,' BOEM Pacific Regional Director Doug Boren said in a statement. 'We look forward to our continued engagement with the Government of American Samoa.'
Yahoo
5 days ago
- Business
- Yahoo
Why Shares of The Metal Company Skyrocketed 489.3% in the First Half of 2025
Shares of prospective deep-sea miner The Metals Company extended their gains from 2024 through the first half of 2025. Several executive orders addressing the nation's supply of critical minerals motivated investors to buy The Metals Company stock. In the pre-revenue phase of its development, The Metals Company should be a consideration only for those comfortable with higher-risk investments. 10 stocks we like better than TMC The Metals Company › Beginning the new year on the heels of a 19.1% gain in 2024, The Metals Company (NASDAQ: TMC) raced considerably higher in January, and the momentum not only extended but also ramped up higher over the ensuing months. According to data provided by S&P Global Market Intelligence, shares of prospective deep-sea mining company The Metals Company skyrocketed 489.3% through the first six months of 2025. It didn't take President Donald Trump long to settle back into the Oval Office before expressing his interest in shoring up America's supply of critical minerals. On the same day as his inauguration, President Trump issued two executive orders addressing a variety of issues with respect to natural resources, including critical minerals. Investors rushed to purchase The Metals Company stock, inferring that the new Trump administration would be more enthusiastic about removing the regulatory hurdles that have impeded the company's progress. The Metals Company is working toward collecting nodules located on the sea floor to produce cobalt, copper, manganese, and nickel -- which, except for copper, the U.S. recognizes as critical minerals. But it was Trump's action in April that really sent shares soaring. Affirming the nation's "core national security and economic interest in maintaining leadership in deep sea science and technology and seabed mineral resources," Trump issued an executive order that asserts it's the nation's policy "to advance United States leadership in seabed mineral development." On the day Trump issued the executive order, The Metals Company stock closed 45% higher than the day before. Enthusiasm for the stock extended into May, when The Wall Street Journal prominently featured the company, and an analyst assigned a bullish price target of $5.50. On the day prior to the analyst announcing the price target, shares had closed at $4.45. Things further heated up in June, when the company announced Korea Zinc would make an equity investment of $85.2 million in exchange for 19.6 million common shares. With the incredible performance of The Metals Company stock in the first half of 2025, it's no wonder that prospective investors may question whether there's still room for the stock to run. Whether the stock can continue to rise in the second half of 2025 isn't the best question, however. Instead, those wondering whether they should click the buy button would be better advised to consider their risk tolerances. The Metals Company is still in the pre-revenue phase of its growth, and there's no certainty that the company, if it does succeed in commencing commercial operations, will ultimately be profitable. Therefore, only those comfortable with a more speculative investment should consider a position at this time. Before you buy stock in TMC The Metals Company, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and TMC The Metals Company wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $671,477!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,010,880!* Now, it's worth noting Stock Advisor's total average return is 1,047% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Shares of The Metal Company Skyrocketed 489.3% in the First Half of 2025 was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
ABC News
6 days ago
- Politics
- ABC News
Fiji enthralled by the return of the Mara chiefly dynasty
On the program this week: Excitement in Fiji as Ratu Tevita Mara, son of the country's founding prime minister, becomes the high chief of the Lau islands in a series of sacred rituals over several days. Pressure on the International Seabed Authority to finalise regulations to govern deep-sea mining in international waters as the United States looks to forge ahead on its own. Tonga's government strengthens its cyber security capabilities after data at the country's largest hospital was hacked and encrypted for ransom. Australian Federal Police to be embedded with Fiji's police force to combat multinational drug syndicates using Pacific islands as smuggling staging points. And a partnership between the Australian and Papua New Guinean Defence Forces is helping PNG military pilots get their commercial pilots licences.
Yahoo
10-07-2025
- Business
- Yahoo
TMC (TMC) Falls on Uncertainties from Deep-Sea Mining Talks
TMC the metals company Inc. (NASDAQ:TMC) is one of the . TMC dropped its share prices for a third straight day, losing 4.42 percent to close at $6.27 apiece as investors continued to unload positions amid uncertainties in the resumption of deep-sea mining talks. This is after the International Seabed Authority (ISA) announced the revival of negotiations on the controversies surrounding deep-sea mining, following President Donald Trump's order last April to fast-track permits for deep-sea mining even beyond US waters, taking advantage of its non-membership in the organization. Sentiment was further dampened by TMC, the metals company Inc.'s (NASDAQ:TMC) bypassing of the ISA after its immediate submission of its first offshore license application, despite being a Canadian company and with Canada being a member of the organization. In recent news, TMC the metals company Inc. (NASDAQ:TMC) earned an 'outperform' rating from Wedbush and an $11 price target, a significant upgrade from its 'neutral' stance and $6 price target previously. A tunneling machine underground, deep in the mine to extract the polymetallic nodules. According to Wedbush, the upgrade was based on a stronger US government from President Donald Trump's executive order in April, 'Unleashing America's Offshore Critical Minerals and Resources,' which could allow TMC the metals company Inc. (NASDAQ:TMC) to bypass the UN-affiliated International Seabed Authority and ramp up production in the Clarion Clipperton Zone. While we acknowledge the potential of TMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
