The updates follow Trump’s executive order aimed at tackling the risk of depending on foreign adversaries for such minerals.
The Department of the Interior (DOI) is adopting new policies to speed up the exploration and development of critical minerals located offshore to strengthen U.S. supply chains and protect the United States’ energy, security, and tech needs, the agency said in a June 25 statement.
Critical minerals, as determined by the secretary of the interior, include minerals such as aluminum, chromium, cobalt, gallium, iridium, magnesium, neodymium, nickel, palladium, platinum, vanadium, and zinc.
According to the DOI, the Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement, two agencies operating within the Interior Department, are updating mineral policies “across all stages of development,” right from early exploration to production and operations.
“These updates are designed to reduce delays, improve coordination, and provide greater certainty for industry, all while upholding key environmental safeguards,” the statement reads.
BOEM plans to extend the duration of prospecting permits from the current three years to five, which would give companies “more time to complete their work without unnecessary interruptions,” DOI said.
In order to speed up the leasing process, BOEM intends to identify potential areas for development earlier without wasting time on procedures such as forming a joint task force with other agencies. This is estimated to save up to one year on projects. BOEM also plans to offer favorable lease terms to interested parties, such as waiving certain rental charges.
When a lease is issued, BOEM and the Bureau of Safety and Environmental Enforcement will consider the projects under DOI’s emergency permitting procedures, which speed up the review and approval of projects. This reduces the overall time taken for permitting procedures from several years to a maximum of 28 days.
Approvals for mapping, testing, and site development will be “fast-tracked,” ditching unnecessary compliance steps, according to the department.
The policy updates are expected to secure access to essential resources for the United States as well as support emerging technologies and bolster the country’s defenses.
“We’re making decisive moves to secure America’s leadership in critical minerals—resources that power our economy, protect our national security, and support modern life,” acting Assistant Secretary for Land and Minerals Management Adam Suess said.
