U.S. to Auction 31.5 Million Acres of Deep-Sea Mineral Lease Areas in November

en.Wedoany.com Reported - On October 19, the U.S. Bureau of Ocean Energy Management issued the final sale notice for the first round of offshore mineral leasing, planning to auction approximately 31.5 million acres of seabed mineral lease areas near American Samoa on November 19. This is the first commercial lease auction by the United States for seabed mineral resources on the outer continental shelf, designated PACM-1. The auction is divided into two areas, approximately 16.3 million acres and 15.2 million acres respectively, targeting key minerals including nickel, cobalt, copper, and manganese.

Under the final lease terms, the minimum bid for each area is $3 million, with an initial lease term of 20 years. The mineral production royalty rate is 2% for the first five years after commercial extraction begins, rising to 5% thereafter. Potential mineral resources in the two areas include seabed polymetallic nodules and metal-rich ferromanganese crusts, and the associated mineral deposits may contain nickel, cobalt, copper, and manganese.

The U.S. Bureau of Ocean Energy Management has completed the environmental assessment for this leasing round and made a finding of no significant environmental impact for the initial leasing activities. Companies awarded leases may first conduct seabed mapping and environmental surveys; subsequent operations involving physical exploration, equipment testing, and commercial extraction must enter the corresponding approval procedures as required. During its review, the American Samoa local government raised requirements for strengthened marine ecological monitoring, tuna fishery protection, port vessel supervision, and seawater quality management.

The final sale notice is scheduled for publication in the U.S. Federal Register on October 20. The auction documents include area boundary maps, lease terms, bidder financial forms, and lease texts. Both lease areas in this round are located on the outer continental shelf waters of American Samoa, with the U.S. Bureau of Ocean Energy Management responsible for organizing bidding and subsequent lease management.