Critical Minerals Are Moving to the Front Line of National Security

Executive Summary

• The release highlights growing strategic importance of critical minerals—including deep‑sea polymetallic nodules—for national security and the energy transition.
• Deep Sea Minerals Corp. welcomes NOAA’s upcoming high‑resolution seabed mapping initiative off American Samoa, supporting future subsea exploration.
• Transocean Ltd. announced new drilling rig contracts totaling roughly $168 million in backlog ($120 M for a Brazil campaign with BP and $48 M for Norwegian Enabler work).

Key Details

• Industry Outlook: Global critical‑minerals market projected to grow from ~$328 B (2024) to $494 B by 2030, potentially reaching $586 B by 2032.
• NOAA Mapping Initiative: High‑resolution seabed mapping and environmental baseline data collection in U.S. federal waters offshore American Samoa, part of the Department of Commerce’s offshore critical minerals agenda.
• Deep Sea Minerals Corp. Statement: CEO James Deckelman emphasizes the necessity of scientific and environmental data for responsible subsea mineral development.
• The Metals Company (TMC) USA: Submitted a consolidated NOAA application for an exploration license & commercial recovery permit covering ~65,000 km² in the Clarion‑Clipperton Zone—first of its kind.
• Odyssey Marine Exploration: BOEM initiated formal review of Odyssey’s unsolicited request for a marine mineral lease sale offshore Virginia. CEO Mark Gordon stresses importance for U.S. economic vitality and security.
• Kraken Robotics: Reported $35 M in SeaPower battery sales to three unnamed customers; highlighted 200% higher energy density and 46% lower weight versus traditional batteries.
• Transocean Ltd.:
• Brazil – Deepwater Mykonos awarded a 302‑day contract with BP, expected to begin Q3 2026, contributing ~$120 M in backlog (excluding mobilization/demobilization services).
• Norway – Three one‑well options exercised for the Enabler rig, adding ~105 days of work and ~$48 M in backlog, extending commitment through Sep 2027.

Notable Quotes

• “We view NOAA’s deep‑sea mapping program as a meaningful and necessary step in building the scientific and environmental foundation required for responsible subsea mineral exploration.” – James Deckelman, CEO, Deep Sea Minerals Corp.
• “Reliable access to critical minerals is essential to America’s economic vitality and national security.” – Mark Gordon, Chairman & CEO, Odyssey Marine Exploration.

Materiality Assessment: Material – Positive (the disclosed contracts and strategic initiatives represent significant, forward‑looking developments for the companies mentioned.)