Bahrain has backed a US company’s bid to mine in international waters in the Pacific for metals used in electric vehicles and electronics.
It is the first country in the region to sponsor such a permit, as Manama looks for new revenue sources while managing one of the Gulf’s heaviest debt loads — 141% of GDP, according to the IMF.
Bahrain hasn’t invested in Impossible Metals but may fund a refinery in the future, Reuters reported. For now, its role is limited to state sponsorship to give Impossible Metals Bahrain the right to canvas the area and deploy robots that collect manganese, copper, and nickel nodules. Environmental groups warn of ecosystem damage, but the company says it uses artificial intelligence to reduce impact.