MT. PLEASANT, SC / ACCESS Newswire / January 8, 2026 / Deep Sea Rare Minerals, Inc. (DSRM) announced today that it has received written notice of substantial compliance for its exploration license from the National Oceanic and Atmospheric Administration (“NOAA”), acting pursuant to the U.S. Deep Seabed Hard Mineral Resources Act (the “DSHMRA”) and NOAA’s implementing regulations (15 C.F.R. Part 970). The determination of substantial compliance within NOAA’s application process establishes a priority of right over the 150,000 sq/km of sea floor that DSRM has requested. DSRM is a holding company whose subsidiaries include subsea survey operator Deep Sea Vision, LLC (“DSV”) and Deep Sea Recovery, LLC (“DSR”), which is focused on advancing the recovery of deep-seabed mineral resources.
NOAA’s determination reflects the agency’s conclusion that the Company’s application satisfies the threshold regulatory criteria required to proceed through the next stages of the exploration licensing review process and establishes the Company’s queue position within NOAA’s review framework.
Requested Exploration Areas
The application submitted by DSRM received priority of right over areas totaling approximately 150,000 square kilometers. These areas are within portions of the Clarion-Clipperton Zone (CCZ) in the Central Pacific Ocean and in areas of the Western Pacific Ocean near Guam. These regions are widely recognized for their polymetallic nodules and are located beyond the jurisdiction of any coastal state, as determined under applicable U.S. law.
Concurrent Development and Planning Activities
Consistent with evolving U.S. policy initiatives supporting domestic access to critical minerals, DSRM is advancing a coordinated strategy that aligns the regulatory timeline with the engineering design and operational planning. By running these processes concurrently, DSRM has set a goal of recovering polymetallic nodules by 2028, subject to regulatory approvals, technical feasibility, environmental review, and financing.
In November 2025, the Company announced the commencement of front-end engineering design for a conceptual subsea collection and lifting system intended to support potential exploration and sampling activities, with an emphasis on environmental responsibility, operational efficiency, and reduced sea floor impact. Any manufacturing, deployment, or operational activities remain subject to regulatory review, permitting, and authorization. DSRM expects to begin manufacturing the deep sea mining equipment in early summer of this year, with the objective of completing the manufacturing and regulatory processes on a similar timeline. Subject to applicable regulatory requirements and authorizations, the Company intends to continue technical evaluation and data-collection activities using its HUGIN autonomous underwater vehicle systems.
Largest likely known source of Nickel and Cobalt
Deep-sea mining presents a compelling opportunity for companies seeking long-term access to critical minerals essential for electrification, renewable energy, and advanced manufacturing. Vast polymetallic nodule fields on the ocean floor contain high concentrations of cobalt and nickel – likely the largest known supply of these two metals on the planet – metals that underpin batteries, electric vehicles, grid storage, and clean-energy infrastructure. Industry and academic estimates have long cited the potential in-place value of these seabed resources at up to $20 trillion, underscoring their strategic and economic significance. When developed responsibly, deep-sea mining offers the prospect of a stable, diversified mineral supply with a smaller surface footprint than land-based operations, reduced deforestation and community displacement, and the ability to support global decarbonization goals while meeting surging demand for critical metals.
Priority of Right and Ongoing Compliance Process
Under NOAA’s regulations, applications determined to be in substantial compliance are assigned a priority of right for processing based on the chronological order in which qualifying applications are filed. To maintain this status, the Company must continue working with NOAA to satisfy additional regulatory, technical, financial, and environmental requirements applicable to the exploration licensing process.
Tony Romeo, Founder and Chief Executive Officer of DSRM, commented: “NOAA’s determination of substantial compliance marks a meaningful milestone in the regulatory process and reflects the depth of preparation behind our submission. We look forward to continuing to engage with NOAA as we further develop our exploration and recovery plans. This is an exciting time to be part of this industry and we’re looking forward to the next steps.”
About Deep Sea Rare Minerals, Inc.
Deep Sea Rare Minerals, Inc. is a U.S.-based holding company focused on the responsible evaluation and potential development of subsea mineral resources through its subsidiaries, with an emphasis on regulatory compliance, environmental stewardship, and long-term strategic mineral supply considerations.
