U.S. President Donald Trump's key mineral drive looks to pave the way for the undersea gold rush.

The Trump administration, seeking to cope with China's mineral dominance, signed a detailed executive order in April to carry out rapid deep-sea mining in U.S. and international waters.

The move is designed to help private companies acquire billions of tons of potato-sized rock called polymetallic nodules, which are strategically important minerals.

The National Oceanic and Atmospheric Administration, a government agency, appears to welcome Trump’s announcement, saying the executive order heralds the “next gold rush” and lays the foundation for a “thriving domestic manufacturing industry.”

Washington's unilateral support for deep-sea mining is considered highly controversial, with critics raising concerns over legal and environmental issues. China's foreign ministry condemned Trump's executive order, saying it "violates" international law and "harm the collective interests of the international community."

Reflect on the current performance of the industry, Metal Company "It's becoming more active," said Gerard Barron, CEO of (TMC).

TMC quickly followed Trump's executive order and applied for a commercial license to mine the seabed. If approved, the Nasdaq-listed company could become the first seabed mining company to obtain a license to utilize minerals in international waters.

"One thing this administration has provided is a certainty in direction, and I think one of the problems we have been facing is regulatory certainty, which ISA cannot use. But it is available in a lot in the United States." Barron told CNBC via video call.

In response to TMC’s application for a mine under domestic U.S. law, the International Seabed Administration (ISA) is a little-known UN regulator responsible for overseeing deep-sea mining, but it remains the only legal mandate to regulate seabed mining activities in international waters.

Although companies are “free to express their opinions,” the ISA warns that any attempt to bypass the process will constitute a violation of international law.

Before the mining activities began, ISA negotiators had long tried to design a rulebook to regulate the exploitation and extraction of multi-symbol nodules and other sediments on the seabed.

ISA Secretary-General Leticia Carvalho told CNBC last year that it is feasible for member states to agree on some form of regulations by the end of 2025.

Barron of TMC disputed the ISA's timeline on mining code, saying there is no opportunity for international agreement this year. He described investor interest following Trump's executive order as the company's "day and daytime" and TMC is currently stepping up efforts to prepare for production.

"Our believers. We are confident that we will eventually solve this problem in this way. But since the execution of the order, the investor interest has… been excellent."

The practice of deep-sea mining involves the use of machinery to remove minerals and metals (such as cobalt, nickel, copper and manganese) from the seabed. The end uses of these minerals are broad, including applications in the fields of defense and green technology.

In fact, in addition to strengthening supply chain security and manufacturing, seabed mining can help reduce reliance on large-scale mining operations on land, advocates say.

Meanwhile, scientists warn that the full environmental impact of subsea mining is difficult to predict, and the Environmental Activity Team said the practice cannot be carried out sustainably.

TMC's Barron testified recently at a U.S. Congressional hearing, saying the company intends to submit an environmental impact statement to regulators, noting that this “ultimately points out that we can do this safely and that we can minimize the impact.”

"What people miss is that this won't happen," Barron said, adding that the company believes it will get licenses to commercially dig seabeds by the end of the year.

Maria Jose (Majo) Valverde, a biodiversity and sustainability analyst at Eurasia Group, a political risk consulting firm, said the U.S. support for deep-sea mining could have far-reaching geopolitical implications.

"I think the order will shake the geopolitical board members. The United States has done this in the climate by withdrawing from the Paris Agreement, and I think that is now integrating into a wider environmental process," Valverde said.

Valver said it is worth noting that Trump's executive order could inspire ISA member states to eventually reach formal mining regulations, especially given that the United Nations has now effectively noted it to avoid competition at the seabed.

"If you leave the United States alone to pursue this 'sole' strategy, for example, other countries may coordinate to avoid buying minerals extracted by the United States, or to make more favorable deals between each other, especially China, because they are really active in ISA negotiations," Valverde said.

Trump’s executive order “expands the panoramic view of options that countries can pursue, especially now that multilateralism is eroding, and we are in a G-Zero environment where countries only want their backyards and they become more creative with what they are willing to consider.”

Danielle Fugere, president and chief consultant at As Sow, a shareholder advocacy group, said U.S. nonprofits are “very concerned” by Trump’s executive order.

"Whatever the U.S. does, regulatory scrutiny is required. Trump is going to issue an executive order that requires us to do the work immediately - and that's a problem."

She added: "China says it is illegal and the law of the sea should manage deep-sea resources, which should benefit all human beings, and in fact, this is what the law of the sea requires. However, here, the United States says it has the right to plunder deep-sea resources."

To be sure, the United States is one of the few countries that have not ratified the United Nations Convention on the Law of the Sea.

When you sow the moratorium on support for deep-sea mining, Trump’s order means ISA member states are now under tremendous pressure to propose a regulatory framework to achieve how and whether deep-sea mining should be carried out.

"We are very concerned about the impact of this executive order and its impact on these organisms, on these resources and fishing countries that rely on marine livelihoods," Fudger said.