The Metals Co (TMC.O), opens new tab on Thursday became the first deep-sea miner to seek Washington’s approval to mine the international seabed under a streamlined permitting process introduced earlier this week.

The Vancouver-based company hopes to obtain its permit by the end of the year,

Under the new guidelines, The Metals Co resubmitted an application it had filed last April to operate in part of the Pacific Ocean between Hawaii and Mexico known as the Clarion-Clipperton Zone.

The company said two zones that The Metals Co has applied to operate in contain an estimated 800 million metric tons of rocks known as polymetallic nodules

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