Despite overcoming legislative gridlock to
aid Ukraine, Israel and Taiwan, the United States Congress is still struggling to tackle threats to its critical mineral supply amid growing resource nationalism. In an era marked by escalating geopolitical tensions, the race for
securing critical minerals has become more intense than ever.
In recent years, we have witnessed a surge in initiatives aimed at harnessing the vast potential of
marine minerals lying beneath international waters. Despite the strategic significance and economic promise of this emerging industry, the US finds itself a mere observer to the game much of the rest of the world is already playing.
China has imposed
export limitations on crucial minerals such as gallium, germanium, graphite and rare earth elements. Indonesia has placed export bans on nickel ore and Mexico has nationalised lithium production. The urgency for the US to get access to marine minerals has become glaringly apparent.
On land, China has used its power to drive mining and build processing infrastructure at a scale and pace unfathomable in Western markets. But polymetallic nodules in the deep sea offer an opportunity to flip this script. The International Seabed Authority (ISA), which governs the use of these resources, operates by consensus of 168 countries plus the European Union. This is drastically different from the influence China enjoys on land.
While today, the US does not have voting rights within the ISA, many of its allies do, balancing adversaries on the international scene. By supporting responsible sourcing of these minerals and the means to process them domestically, the US not only can secure its mineral independence, but also uphold robust environmental and labour standards.
Critical minerals have become important for modern economies and the defence forces of many countries. Consequently, many countries have tightened their related trade policies. Producing 80 per cent and 60 per cent of the world’s gallium and germanium, respectively, China responded to
US semiconductor trade restrictions with restrictions of its own in 2023 – picking and choosing which companies can import these critical minerals required for high-speed computer chips and a variety of defence and renewable energy applications.
