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2h ago
US Seabed Auction Near American Samoa Advances Mineral Leasing Despite Weak Mining Economics
The US Marine Minerals Administration will auction mineral rights covering about 31.5 million acres near American Samoa at minimum bids of $3 million per area with 20-year lease terms. The lease permits only preliminary mapping, not commercial harvesting, and no profitable mining case yet exists given unresolved geology, collection costs, and metals prices.
Sarah Mitchell