Deep Sea Minerals gets NOAA compliance

Deep Sea Minerals (CSE: SEAS) announced the National Oceanic and Atmospheric Administration (NOAA) has determined that the company’s application submitted under the Deep Seabed Hard Mineral Resources Act (DSHMRA) is in substantial compliance with applicable U.S. regulatory requirements. 

The determination is a milestone in the federal review process governing exploration and commercial recovery activities for polymetallic nodules in areas beyond national jurisdiction.  

The company submitted its application in March, and is one of several that aim to explore the sea, where polymetallic nodules found on the deep ocean floor contain critical minerals including nickel, cobalt, copper, and manganese, essential inputs for electrification, energy infrastructure, defense applications, and advanced manufacturing technologies. 

NOAA, which regulates mineral exploration and recovery by qualified US entities in international waters, recently pledged to speed up its review process, saying it would “provide the necessary resources for license and permit reviews to ensure that those reviews go forward without undue delays.” 

“This marks a significant step forward for Deep Sea Minerals and reinforces our commitment to advancing responsible, science-based development of critical mineral resources,” CEO James Deckelman said in a news release.  

“We believe the United States is increasingly recognizing the strategic importance of secure and diversified critical mineral supply chains, and we are proud to be participating in that emerging framework.” 

The company said it believes this positions Deep Sea Minerals as one of only three publicly traded or public-market pathway companies to have received a NOAA substantial compliance determination under the DSHMRA regulatory process. 

NOAA’s determination of substantial compliance confirms that the company’s application contains the information required to advance through the federal review process.

Upon full application approval, the company’s seabed mineral concession spans approximately 150,000 km² within the Pacific Ocean across offshore exploration blocks defined by geographic coordinates under NOAA’s DSHMRA framework. 

The scale and strategic position of the concession area provide exposure to one of the larger US-aligned seabed mineral land positions within the emerging deep sea critical minerals sector, it said.