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Congressional Leaders Urge President Biden and the Department of Defense to Consider Polymetallic Nodules for U.S. Critical Mineral Supplies and National Security
In a letter to President Biden and the Pentagon, nine members of Congress urged the Administration to “keep all options on the table, including deep-sea
About this update from Tmc The Metals Company Inc.
[{"type":"text","content":"In a letter to President Biden and the Pentagon, nine members of Congress urged the Administration to “keep all options on the table, including deep-sea opportunities, in assessing polymetallic nodules as a viable resource to secure critical minerals and close national security vulnerabilities.”In June, the House Armed Services Committee directed the Assistant Secretary of Defense for Industrial Base Policy “to assess processing of seabed resources of polymetallic nodules domestically” under the House version of the National Defense Authorization Act (NDAA).The news comes as American and allied auto and battery makers struggle to secure supplies of critical battery metals that comply with guidelines for incentives under the Inflation Reduction Act. NEW YORK, July 31, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of critical battery metals, today welcomed a letter from Congressional leaders and several members of the House Armed Services Committee urging the Biden Administration to assess domestic processing of seafloor polymetallic nodules as a means to secure key energy transition metals and “close national security vulnerabilities.” In the letter, addressed to both President Biden and Secretary of Defense Austin, the House members led by Robert J. Wittman (R-VA 1st District), wrote: “Currently, the United States relies significantly on foreign nations, many of them unfriendly and with nonexistent labor and environmental standards, to meet the United States’ present critical mineral demands. Additionally, China dominates much of the international critical mineral supply chain on land and is now ramping up focus on seafloor resources known to be the largest estimated source of metals like cobalt, nickel and manganese, presenting a national security vulnerability for the United States…Recently, China has taken aggressive and brazen steps to secure and process seabed resources of polymetallic nodules into strategic planning for national security. Currently, Chinese companies hold 5 out of 31 International Seabed Authority (ISA) contracts for exploration and development – more than any other country.” In March, China’s state-owned newspaper China Daily recognized TMC’s leadership position in the industry and announced its ...