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The Responsible Use of Seafloor Resources Act calls for federal resources to be allocated towards refining polymetallic nodule materials and advises several analyses across benefit sharing, technology development, trade, and environmental and human health.
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China controls roughly 60% of the global critical mineral production and over 85% of the world’s refining capacity.
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Minerals and metals such as cobalt, nickel, copper, and manganese can be found in potato-sized nodules on the ocean floor. Reserves are estimated to be worth anywhere from $8 trillion to more than $16 trillion, and they are in areas where companies, including The Metals Company, plan to target.
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Many NGOs and environmental groups, however, argue that mining the seafloor could have a devastating impact on the planet.
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