The Metals Company (TMC) is applying for mining exploration licenses and commercial recovery permits in international waters under existing US legislation rather than waiting for regulations under the International Seabed Authority, or ISA.

The company said Thursday it has started the application process through its US subsidiary with the National Oceanic and Atmospheric Administration under the US Department of Commerce.

The company said the US seabed mining code is the best way to secure a permit for mining deep-sea mineral resources "in a timely manner."

The Deep Seabed Hard Mineral Resources Act provides a "robust, predictable regulatory regime," in contrast with the ISA, which has not yet adopted the Exploitation Regulations "in breach of its treaty obligations under UNCLOS and the 1994 Agreement," the company said.

The company said it has met with officials in the White House and US Congress.

"We're encouraged by the growing recognition in Washington that nodules represent a strategic opportunity for America -- and we're moving forward with urgency," said Metals Company Chairman and CEO Gerard Barron.

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