The White House is considering an executive order to expedite deep-sea mining permits, potentially bypassing the United Nations-backed International Seabed Authority, Reuters reported Monday, citing two people with direct knowledge of the deliberations.
The order, if signed, would allow miners to seek approval through the US Department of Commerce's National Oceanic and Atmospheric Administration's mining code instead of the ISA, the sources reportedly said.
Glencore-backed TMC the metals company (TMC) formally requested Washington for deep-sea mining permits last Thursday, according to Reuters.
The White House, Glencore, and TMC did not immediately respond to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.
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