The US National Oceanic and Atmospheric Administration has determined that subsea minerals explorer Deep Sea Minerals Corporation's application under the Deep Seabed Hard Mineral Resources Act is in substantial compliance with federal regulatory requirements.
In a June 1 statement, the company highlighted that the compliance determination positions the firm as one of only three public-market pathway companies to receive this status from the regulatory authority.
While the decision does not constitute application certification or the issuance of any licences, it confirms that the submission contains the necessary information to advance through the federal review.
Upon full application approval, the seabed mineral concession will span approximately 150,000 square kilometres across offshore exploration blocks within the Pacific Ocean.
These deep ocean nodules contain nickel, cobalt, copper, and manganese.
“This marks a significant step forward for Deep Sea Minerals and reinforces our commitment to advancing responsible, science-based development of critical mineral resources,” said company Chief Executive Officer James Deckelman,