Gerard Barron is hoping U.S. appetite for electric vehicle batteries and renewable energy components will give deep-sea mining a boost.

The Metals Co. is trying to collect mineral-rich “nodules” from a massive expanse of seabed between Hawaii and Mexico, and possibly process those materials on U.S. soil in states like Texas or along the West Coast.

It’s an ambitious and controversial plan that Barron, the company’s Vancouver-based chair and CEO, hopes will align with guidance the Treasury Department is slated to release this week that will determine which EVs are eligible for lucrative tax credits under the Inflation Reduction Act.

He’s also closely watching international negotiations around the crafting of potential rules for deep-sea mining. His company is partnering with the Pacific island nation of Nauru on an exploration contract. The country invoked a provision in 2021 giving the U.N.-affiliated International Seabed Authority two years to decide on new rules.

But a growing coalition of countries, scientists and environmental groups are voicing concerns about the unknown environmental consequences of mining the deep seas. Among ISA’s members, Germany is calling for a pause on deep-sea mining until regulations are in place to prevent serious environmental damage, while France is proposing to ban it altogether.

This interview has been edited for length and clarity.

How does your mining process work?

Nodules are lying on the ocean floor, and our job is to pick them up with the lightest impact and the greatest efficiency. We don’t have to drill or dig for them, we just have to send our robots down and they crawl along the seafloor.

We’re able to collect these rocks and not do a lot of harm to the environment. If you had to dream up somewhere to have a very large abundant resource, the abyssal zone 4,000 meters below sea level, more than 1,000 nautical miles from the nearest community, would seem to be a pretty good place.

Talk to me about liability should something go wrong. Who’s on the hook to pay?

There was [a United Nations Convention on the Law of the Sea] ruling in 2011, which was quite clear that the sponsoring state did not carry the liability, providing they regulate. But we’re not talking about a Macondo [oil spill], we’re talking about picking up rocks off the seafloor.

Are you looking at processing plants in the U.S.?

We did identify a site in the state of Texas that would be ideal to process these nodules. We recently announced Bechtel as the company helping us complete our pre-feasibility. They know a lot about mining, they liked the disruptive nature. They know that our plan and our desire is to build something on [American] soil.

Last week, we announced that the first nodules we collect will be heading to Japan. The reason for that is that we expect to be in production and need somewhere to send out nodules in 2025. There are existing, already built processing plants that can receive our nodules. And so it would make sense for us to go there first, because there’s no money to spend, like I mean, no money.

Are you looking beyond Texas?

Yep, we’ve done a big sweep.

For us, logistics and being able to get in there with a large Panamax or Handymax [cargo ship] is important. And so that’s why Texas is attractive. But the West Coast, California has some challenges, but there’s one or two economic zones that could be easier for permitting. Washington state is very interesting.

We will only locate it where we don’t have to replicate that infrastructure, where we don’t have to build a deepwater port or don’t have to build a supply of renewable power. It’s a prerequisite, when we’ve made that decision.

Where would you sell your minerals, in addition to Japan and the U.S.?

India is one option, of course. And so there’s a lot of existing infrastructure in Asia, but especially China. So that makes it challenging for us.

There’s no reason why we couldn’t deal with China. But we really liked the idea of being the alternative to China. I think that can be something we can build our brand around.

Are you hoping to benefit from the Inflation Reduction Act?

Yeah. One hundred percent. We have a communication challenge there. I’ve seen [Sen. Joe] Manchin [D-W.Va.], who I thought did a damn good job of getting it in place in the first instance, and the car companies saying, “Where are we going to get the metals from?” This can solve that.

Have you applied for support from the U.S. government?

We have some applications in preparation at the moment with both the Department of Defense and the Department of Energy. Nothing to report on it just yet.

What do you make of the opposition to deep-sea mining?

Would I love it if everyone was celebrating this moving forward and skipping down the path saying, ‘Hey, we’re going to save our most biodiverse carbon sinks on Earth by leaving the rainforests in place and not pushing out Indigenous communities.’ ‘But instead, we’re going to put up as much opposition and try and distract people and so on.’ And the press has not been kind on this topic. They want to talk about the Greenpeace position. I just don’t get it.

Do you have any hope that the U.S. will ratify the U.N. Convention on the Law of the Sea, and how important is it that the U.S. does so?

I’ve given up hoping that. It might be important to the U.S., but it’s not important to me.

Is it easier to get the U.S. to ratify the Law of the Sea than having to go through regulatory reform on Capitol Hill to speed up domestic mining?

No one wants a mine in their backyard. That’s become very clear. Whether it’s Twin Metals or Pebble or Resolution Copper, no one wants it, and I can’t blame them. Mining is not a very cool thing.

I don’t think America needs to ratify the Law of the Sea. Is America missing out? Yes. But can America still benefit from companies like us processing these metals on U.S. soil? Yes. Why would we do that? Because we get incentives to locate and build one place instead of another place.

Environmental groups have noted that your company in filings to the Securities and Exchange Commission in the fall of 2022 revealed a federal investigation was underway. Is that still ongoing?

As you can see in our filings, we have voluntarily complied with that investigation. Nothing further to share. The action is of a sort fairly common for companies emerging from SPAC status.

GAME ON — Welcome to the Long Game, where we tell you about the latest on efforts to shape our future. We deliver data-driven storytelling, compelling interviews with industry and political leaders, and news Tuesday through Friday to keep you in the loop on sustainability.

Team Sustainability is editor Greg Mott, deputy editor Debra Kahn and reporters Jordan Wolman and Allison Prang. Reach us all at [email protected], [email protected], [email protected] and [email protected].

Want more? Don’t we all. Sign up for the Long Game. Four days a week and still free!

— Oregon is considering legislation that would allow the governor to roll back urban growth restrictions as part of an effort to attract chip manufacturers to the state, the AP reports.

— A California plan to repay Black residents for generations of discrimination could cost $800 billion, economists have told the panel considering the payments. The AP has that story.

— JPMorgan Chase & Co. is expanding the sustainable investment team it created to pursue growth equity opportunities, the Wall Street Journal reports.