America is taking on China in the race to the bottom of the sea, hoping that new mining techniques will help break Beijing’s grip on global minerals.
Supporters say the deep-sea mining industry offers a “$20 trillion opportunity,” or say security gains outweigh the financial costs.
Skeptics say the upfront costs are enormous, and the minerals are already available on land in friendly countries.
In July, China got a green light from a little-known United Nations agency to begin testing its deep-sea mining vehicles in a specific designated section of the Pacific Ocean floor.
U.S. companies, backed by President Donald Trump’s executive orders, are now racing to secure their own foothold, eyeing up billion-dollar investments….