FAQs Archive

Q: F.1 When was Impossible Metal incorporated?

Impossible Metals was incorporated in 2020 as a Delaware B Corporation, a public benefits corporation (“B Corp”).

Q: C.15 Will there be a royalty for deep sea mining?

Yes. All mining typically has a royalty, paid for access to the resource. The ISA Finance Committee is working on equitable finance sharing from deep seabed mining. This is likely to result in a royalty. See the blog post “ For All Mankind: How Deep Sea Minerals Could Pay Children in Africa to Go to School Instead of Mining ” for more information.

Q: C.14 Why has the United States not ratified UNCLOS?

169 countries, plus the European Union, have ratified UNCLOS. This represents 7.5 billion people (93%) of the world's population. In the United States, there has been a vigorous debate over the treaty's ratification, with criticism primarily coming from political conservatives who raised concerns about the Convention’s impact on U.S. sovereignty. See more details in the 60 minutes TV program from March 2024.

Q: C.13 When do you expect exploitation contracts to be awarded?

Exploitation regulations are in the final stages of being adopted by multiple regulators. It is anticipated that the earliest date an exploitation contract could be awarded and production mining started is 2027.

Q: C.3 What is the current status of deep sea mining regulations?

Exploration regulations have been in force for many years. Exploration includes analyzing deposits, testing systems and equipment, and completing environmental baseline, scientific, technical, and economic studies; no commercial activity is permitted under exploration. Exploitation (commercial mining) regulations have been under development for many years. The ISA has stated that the exploitation regulations will be adopted in 2025. Multiple countries, including the Cook Islands, have awarded exploration licenses within their exclusive economic zones. For more details, please see the blog post “ Current Status of Deep Sea Mining Regulations .”

Q: C.2 Who regulates deep sea minerals?

Individual countries govern the deep sea minerals within their EEZs. In international waters, deep sea minerals are governed by the United Nations (UN) through the “ United Nations Convention Law Of the Sea (UNCLOS).” 169 countries, including the European Union, are signatories of UNCLOS. UNCLOS is controlled and enforced by the International Seabed Authority (ISA), an autonomous organization within the United Nations common system. For more details, please see the blog post “ Current Status of Deep Sea Mining Regulations . ”

F.1 When was Impossible Metal incorporated?

C.15 Will there be a royalty for deep sea mining?

C.14 Why has the United States not ratified UNCLOS?

C.13 When do you expect exploitation contracts to be awarded?

C.3 What is the current status of deep sea mining regulations?

C.2 Who regulates deep sea minerals?

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