This bill directs the federal government to accelerate development of critical minerals from U.S. ocean seabeds, including nickel, cobalt, copper, and rare earth elements, to reduce American dependence on foreign suppliers and strengthen national security. Within 60 days of enactment, the bill requires the Secretaries of Commerce, Interior, State, and Energy to expedite permitting for seabed exploration and mining, develop a comprehensive mapping plan of seabed mineral resources, identify which minerals are essential for defense and manufacturing, and engage with allied nations about seabed mining opportunities. The legislation also mandates two reports: one assessing private sector interest in offshore mineral development and another examining the feasibility of international benefit-sharing arrangements for mining in international waters. The bill frames seabed mineral development as a strategic priority to counter Chinese influence over global mineral supplies while maintaining environmental and transparency standards, though it does not specify new funding amounts or dedicated budget allocations.
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