Story
US Proposes 67-Million-Acre Seabed Mining Auction Near Northern Mariana Islands

The U.S. Interior Department on Monday proposed an auction for deep-sea mining leases across a vast expanse of the Pacific Ocean, a significant step in the administration's strategy to increase domestic supplies of minerals essential for technology and defense.
Proposed Lease Sale Details
The Marine Minerals Administration (MMA) has put forward a plan for an offshore minerals auction covering approximately 67 million acres of seabed east and west of the Northern Mariana Islands, a U.S. territory.
According to the proposal notice, the sale would be held on December 16, 2026, in California. Leases would be awarded through a competitive bidding process, granting companies the right to explore for and potentially develop deposits of critical minerals used in batteries, advanced electronics, and military hardware.
Strategic Push for Critical Minerals
This move is part of a broader federal effort to reduce U.S. dependence on foreign nations for strategically important resources. In a statement, Acting MMA Director Matt Giacona said the proposal aims to support American access to minerals vital for supply chains, domestic manufacturing, and national security.
AdThe proposed auction follows a similar action last month, when the administration proposed leasing over 31 million acres of seabed off American Samoa for deep-sea mining. Both proposals underscore a policy focus on securing domestic resource pipelines.
Local and Environmental Review
Before the plan proceeds, the MMA will consider feedback from the governor of the Northern Mariana Islands, David Apatang. In previous comments submitted in January, Governor Apatang stated he neither supported nor opposed seabed mining, citing the need for more comprehensive information on its potential environmental impacts.
The prospect of deep-sea mining remains a contentious issue. Environmental organizations have voiced strong opposition, arguing that the effects on sensitive marine ecosystems are not yet fully understood. Conversely, supporters contend that seabed mining could provide a crucial new source of the raw materials needed for electric vehicles and other modern technologies.
Read next
More on Commodities
U.S. Crude Inventories Post Surprise Draw While Gasoline Stocks Swell, EIA Reports
U.S. crude oil stockpiles fell unexpectedly last week, driven by a surge in exports, while gasoline inventories saw a significant build amid weakening demand, according to the latest EIA data.

UBS Raises Year-End Brent Forecast to $110 on Middle East Supply Risks
UBS has increased its year-end forecast for Brent crude to $110 per barrel, citing escalating supply risks in the Middle East, declining global inventories, and record-high freight costs.

Iran Dismisses Latest Qatari Peace Proposal as 'Unacceptable'
A senior Iranian official has rejected the latest Qatari-mediated draft deal to end the eight-month war, calling the ideas 'unacceptable' and signaling a continued diplomatic impasse. The news comes amid rising oil prices following attacks on Saudi energy infrastructure.

Argentina Poised to Gain EU Soymeal Market Share as Deforestation Rules Hit Brazil
Argentina's soybean industry is preparing to capture a larger share of the European Union's soymeal market as new EU anti-deforestation rules are expected to disrupt exports from rival Brazil.