Deep Sea Minerals (CSE:SEAS) has received confirmation from the National Oceanic and Atmospheric Administration (NOAA) that its application under the Deep Seabed Hard Mineral Resources Act is in substantial compliance with applicable US regulatory requirements.
The determination represents a milestone in the federal review process governing exploration and commercial recovery activities for polymetallic nodules in areas beyond national jurisdictions.
Deep Sea Minerals believes this milestone positions the company as one of only three publicly traded companies to have received a NOAA substantial compliance determination under the Deep Seabed Hard Mineral Resources Act regulatory process.
CEO James Deckelman says this approval reinforces the company’s commitment to advancing responsible, science-based development of critical mineral resources.
“We believe the US is increasingly recognising the strategic importance of secure and diversified critical mineral supply chains, and we are proud to be participating in that emerging framework,” Deckelman says.
Upon full application approval, the company’s seabed mineral concession spans 150,000km2 within the Pacific Ocean across offshore exploration blocks defined by geographic coordinates under NOAA’s act framework.
Late last month, Deep Sea applied to list on the Nasdaq Capital Market, with the aim of supporting its long-term strategy by increasing visibility with US investors.
As Mining.com.au reported, the company sees the US listing complementing its existing listing on the Canadian Securities Exchange, while also positioning it to access deeper and more diversified capital markets.
Deep Sea Minerals is a seabed mineral explorer and developer, with a strategy centred on identifying jurisdictions and geological settings with potential exposure to polymetallic nodule systems.
Polymetallic nodules are found on the deep ocean floor and contain critical minerals such as nickel, cobalt, copper, and manganese.
Write to Aaliyah Rogan at Mining.com.au
Images: Deep Sea Minerals
