Ensuring Economic Benefits and Protections from Seabed Mining
On September 8, I introduced H.R. 10318, the Pacific Minerals Economic Security Act (PACMESA), to ensure the Northern Mariana Islands and other U.S. Pacific territories directly affected by potential seabed mining receive meaningful economic benefits and a stronger voice in decisions that could impact our communities. PACMESA would direct 50 percent of revenues from covered seabed mining leases to eligible adjacent territorial governments, creating a significant source of revenue for the CNMI if seabed mining occurs offshore. The bill would also strengthen environmental bonding requirements to help ensure companies are financially accountable for potential impacts and expand notification and consultation requirements for territorial governments. Critical minerals are increasingly important to America’s economic competitiveness and national security. If seabed mining occurs offshore our communities, the CNMI should not bear the risks without receiving a meaningful share of the benefits and having a seat at the table. PACMESA provides those protections and helps close important gaps in existing federal law governing hard mineral development on the Outer Continental Shelf.
