Deep-sea mining firm wins contract extension from global body

The international regulatory body overseeing controversial ocean floor mining granted an extension on Monday of the deep-sea exploration contract of Canadian firm The Metals Company (TMC).

The five-year extension was granted by unanimous consent, despite ongoing tensions between the International Seabed Authority (ISA) and TMC.

Their dispute stems from TMC's move last year to seek regulatory approval from US President Donald Trump's business-friendly administration to begin operations in international waters.

The request to the United States -- which is not a member of the ISA -- was viewed as a bid to sidestep the Jamaica-based body as it struggles to finalize rules to govern the industry after years of protracted negotiations.

Following TMC's application with US authorities, the ISA asked its technical committee to pay "specific attention to possible non-compliance" with respect to certain contracts.

TMC viewed the language as a veiled threat to its ISA-issued exploratory contract.

Deep-sea mining aims to plumb previously untouched seabeds for commodities including nickel, cobalt and copper, which are used in everything from rechargeable batteries to military technology.

TMC, which has not abandoned the ISA route, brought the case before the Hamburg-based International Tribunal for the Law of the Sea (ITLOS) in June to prevent the ISA from canceling its exploratory contract.

The tribunal issued a ruling on Saturday that neither suspended the ISA investigation nor required the organization to extend the exploratory contract, saying the ISA "shall act in accordance with the relevant legal framework."

Two days later, during an ISA meeting in Kingston, Jamaica, the international body approved a text which said it "decides to approve the application for extension of the contract."