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Marketplace All-in-One

Companies are betting on deep sea mining for critical minerals

Marketplace All-in-One

Marketplace

News, Business

4.81.3K Ratings

🗓️ 10 June 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

The International Energy Agency projects the global market value of critical minerals could reach almost $800 billion by 2040. That's because we must have them for the electrified future. And right now, China is a dominant supplier.


The Trump administration wants to find other sources, and it's looking to U.S. and international waters to mine minerals on the ocean floor.


Marketplace contributor Daniel Ackerman has been reporting on the deep-sea mining companies that are working to figure out how to harvest in unforgiving terrain.

Transcript

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0:00.0

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0:48.9

There are little bits of rare minerals in every tech gadget.

0:53.3

Mining companies want to harvest more from the

0:56.0

bottom of the ocean. From American Public Media, this is Marketplace Tech. I'm Novosafo. The International Energy Agency projects the global market value of critical minerals

1:15.3

could reach almost $800 billion by 2040.

1:20.0

That's because we must have them for the electrified future.

1:23.0

And right now, China is a dominant supplier.

1:26.4

The Trump administration wants to diversify, and it's looking

1:29.1

to international waters where there's lots of these minerals strewn about on the ocean floor.

1:35.4

Marketplace contributor Daniel Ackerman has been reporting on the deep sea mining companies

1:39.4

that are working to figure out how to harvest an unforgiving terrain. Most of the mining companies are

1:46.0

interested in these strange, roundish rocks called polymetallic nodules. They're really rich in some

...

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