International seabed body extends The Metals Company exploration contract

The international body that oversees ocean-floor mining granted a five-year extension to an exploration contract held by Canadian firm The Metals Company.

The International Seabed Authority approved the extension by unanimous consent during a meeting in Kingston, Jamaica, despite tensions with the company. The dispute followed The Metals Company's move last year to seek regulatory approval from the administration of US President Donald Trump to begin operations in international waters.

The United States is not a member of the International Seabed Authority. The company's request to US authorities was viewed as an attempt to bypass the Jamaica-based body while it works to finalise industry rules after years of negotiations.

After the US application, the International Seabed Authority asked its technical committee to pay "specific attention to possible non-compliance" involving certain contracts. The Metals Company viewed that wording as a veiled threat to its authority-issued exploration contract.

Deep-sea mining seeks to extract commodities including nickel, cobalt and copper from seabeds that have not previously been mined. The source said those materials are used in products and sectors including rechargeable batteries and military technology.

The Metals Company has not abandoned the International Seabed Authority process. In June, it brought a case before the International Tribunal for the Law of the Sea in Hamburg to try to prevent the authority from cancelling its exploration contract.

The tribunal ruled on Saturday that it would not suspend the authority's investigation and would not require the authority to extend the exploration contract. It said the authority "shall act in accordance with the relevant legal framework."

Two days later, the authority approved a text saying it had decided to approve the application to extend the contract.