Unleashing America's Offshore Critical Minerals and Resources

What it means

Directs federal agencies to expedite permits for exploration and extraction of minerals from the ocean floor. Aims to secure critical minerals like nickel, cobalt, and rare earth elements from seabed resources to reduce dependence on foreign suppliers, especially China.

Expected impact

• Increased domestic supply of critical minerals needed for defense, infrastructure, and energy sectors
• Potential economic growth through development of seabed mining industry and related processing capabilities
• Enhanced national security by reducing reliance on foreign adversaries for strategic minerals
• New international partnerships with allies for responsible seabed resource development
• Possible environmental concerns as seabed mining expands, despite commitment to responsible practices