First Deep-Sea Mining Company Asks Trump for International Permit
the hearing it had no plans to operate without conducting more environmental testing.An engineering expert from the Massachusetts Institute of Technology told the hearing the effects of deep-sea mining may not be as severe as some people have speculated but added the practice requires robust regulation.(Reuters
“Revive Our Ocean” Initiative Launched
needs to come into effect this year if the world is to meet its target. Currently, only about 8% - or 29 million square kilometres - is protected.Though the United States was involved in setting up the treaty, it has been absent from this week's negotiations, and is now not expected to ratify it.(Reuters - Reporting by David Stanway; Editing by Alison Williams
Trump Order Fast Tracks Subsea Mining
to launch a commercial auction for access to deposits of nickel, cobalt and other critical minerals off the coast of American Samoa.Shares of The Metals Company - among the most prominent of deep-sea mining companies - rose on Thursday by roughly 40% to hit a 52-week high of $3.39 per share after the Reuters report earlier in the day on the executive order."With a stable, transparent, and enforceable regulatory pathway available under existing U.S. law, we look forward to delivering the world's first commercial nodule project, responsibly and economically," said Gerard Barron, CEO of the
Fugro Cuts More Jobs, Shifts Focus to Different Business Segments
wind projects.Further layoffs are expected in the U.S., where it employs more than 2000 people, and the Middle East, Heine said.Fugro is 'not counting on any work (in U.S. offshore wind) this year,' Heine said, adding that the segment represents around 7% of total revenue.($1 = 0.8821 euros)(Reuters - Reporting by Alban Kacher; Editing by Christopher Cushing, Eileen Soreng and Kim Coghill
Global Coral Bleaching Crisis Spreading
and territories registering bleaching-level heat stress in their waters.It will take scientists years to understand the global extent of coral reef death, but they say they have already observed widespread mortality in parts of the Caribbean, Red Sea, and along Australia's Great Barrier Reef.(Reuters - Reporting by Gloria Dickie and Ali Withers; Editing by Alexandra Hudson
India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks
minerals including cobalt, copper, manganese, and nickel.An initial bid deadline of February 27 was bumped to April 2 and has been extended again, the ministry spokesperson confirmed."We have received queries from companies that want to study the blocks and have asked for time," a source told Reuters, declining to be identified as they were not authorised to speak to the media.Another source said the move was aimed at encouraging wider participation from potential bidders.Opposition parties have called for the auction to be cancelled citing risks to the environment and local media have reported
Impossible Metals Seeks Mining Lease Near American Samoa
Metals does not need permission from the International Seabed Authority (ISA) - created by the United Nations Convention on the Law of the Sea, which the U.S. has not ratified.The White House is weighing an executive order to let mining companies that want to mine international waters bypass the ISA.(Reuters - Reporting by Ernest Scheyder; Editing by Sandra Maler
Fugro Cuts Jobs and Scales Back US Operations
. Furthermore, the highly volatile market environment is now impacting Fugro’s business in other regions as well," the company said in a statement."We see some scope reductions of projects and award decisions taking longer, exacerbating the typically slow start to the year," it said.(Reuters - Reporting by Alban Kacher and Anna Peverieri; Editing by Tomasz Janowski
China Concerned About US Deep-Sea Metals Stockpile Plan
Seabed Authority," the ministry said in a statement.China produces around 90% of the world's refined rare earths, a group of 17 elements used across the defense, electric vehicle, clean energy and electronics industries. The U.S. imports much of its rare earths, which come largely from China.(Reuters - Reporting by Ethan Wang and Ryan WooEditing by Bernadette Baum
February 2025
