Diving for Battery Metals in the Pacific

Korea Zinc’s $85.2M bet on deep-sea mining signals a new race to secure critical minerals for EV batteries

23 Feb 2026

A bold wager is taking shape far below the Pacific’s surface. Korea Zinc has invested $85.2 million in The Metals Company, betting that the ocean floor could help power the next wave of electric vehicles.

The deal gives the South Korean refiner a minority stake in a company focused on collecting polymetallic nodules from the seabed. More importantly, it offers early access to minerals that are becoming harder to secure on land. Nickel, cobalt, copper, and manganese sit at the heart of EV batteries and grid storage systems, and demand is climbing fast.

Traditional mining regions are under strain. Geopolitical tensions, tighter environmental rules, and long development timelines have complicated supply chains just as automakers ramp up production. By backing a seabed mining venture, Korea Zinc is seeking both diversification and leverage in a market where reliable access can define winners.

For The Metals Company, the investment is more than fresh capital. It is a stamp of industrial credibility from one of the world’s leading refiners. Chief executive Gerard Barron has argued that seabed nodules offer a chance to build a more transparent and scalable mineral supply chain to support global electrification.

Supporters say these nodules, scattered across vast stretches of the Pacific, contain high concentrations of key metals in a single resource. They contend that gathering them could limit the need for sprawling land-based mines, along with the social and environmental disruption that often follows. Critics respond that deep-sea ecosystems remain poorly understood and warn that commercial ambition should not outpace science or regulation.

Rules for seabed mining are still evolving, and timelines remain uncertain. Even so, governments in the United States, Europe, and Asia are elevating critical minerals to strategic status, while investors hunt for long-term supply solutions.

Korea Zinc’s move underscores a simple reality. The race for battery metals is expanding into new territory, and those who secure partnerships early may shape how the clean energy economy is built.