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TMC the metals company Inc. develops critical-metal resources from seafloor polymetallic nodules in the Clarion Clipperton Zone of the Pacific Ocean. Company news centers on exploration and commercial recovery permitting, environmental research, technical assessments, collection-system development, and the metallurgical work needed to process nodules for metals used in energy, defense, manufacturing and infrastructure.
Recurring updates include NOAA and DSHMRA regulatory milestones for TMC USA, International Seabed Authority data submissions by NORI and TOML, commercial work with offshore contractor Allseas, quarterly financial results, business updates, and material agreements tied to sponsored exploration areas and future nodule recovery operations.
The Metals Royalty Company (Nasdaq:TMCR) announced a fully allocated US$165 million financing package comprising a US$140 million offering of senior secured second-lien convertible notes and a US$25 million senior secured first-lien term loan facility. Proceeds are earmarked to fund the acquisition of an additional 1.0% Mesabi Metallics royalty, repay the existing senior term loan and for general corporate purposes.
The five-year Notes carry an 8.00% coupon with a mix of cash and payment-in-kind interest in years 1–2 and an initial conversion price of about US$8.66 per share, a 37.5% premium to the US$6.30 reference price. The 24‑month Loan Facility bears interest at Term SOFR plus 4.00% and includes 500,000 five‑year warrants with an exercise price at a 37.5% premium to the reference price. The company also agreed with Ironclad Royalties to increase share consideration for the Additional Mesabi Royalty to US$27.5 million, reducing cash consideration. Closings are expected on or about August 24, 2026, subject to customary conditions.
TMC (Nasdaq:TMC) announced that NOAA has published in the Federal Register TMC USA’s consolidated application for an exploration license and commercial recovery permit for the TMC USA-A area under the Deep Seabed Hard Mineral Resources Act.
The consolidated application, first submitted earlier in 2026, expands the proposed commercial recovery area from about 25,000 km2 to approximately 65,000 km2, covering an estimated 619 million tonnes of wet polymetallic nodules, with potential exploration upside of an additional 200 million tonnes. NOAA previously determined the application to be in full compliance on April 28, 2026, and will now proceed with remaining steps, including certification, environmental review with a draft Environmental Impact Statement and public comment, and a final decision on whether to issue the requested licenses and permits.
TMC USA is also advancing a separate USA-B exploration license application over roughly 122,000 km2, containing an estimated 1.02 billion tonnes of nodules.
TMC (Nasdaq: TMC) announced that NOAA has published a Notice of Intent in the Federal Register to prepare an Environmental Impact Statement (EIS) for the USA-B deep-sea exploration license application submitted by its subsidiary TMC USA under the Deep Seabed Hard Mineral Resources Act.
The USA-B area in the Clarion Clipperton Zone covers about 122,000 km² of seafloor, with an estimated 1.02 billion tonnes of polymetallic nodules, according to the company’s August 2025 technical report. Publication of the NOI follows NOAA’s earlier certification of the USA-B application on May 26, 2026 and is part of a sequence of regulatory milestones leading toward a final license decision.
TMC (Nasdaq: TMC) reported Q2 2026 liquidity of about $143 million from cash and credit facilities and quarter-end cash of $98.7 million with no financial debt, stating this should cover working capital and capex for at least 12 months. The company recorded a net loss of $60.1 million or $0.14 per share, versus a $74.3 million loss a year earlier, and used $20.1 million in operating cash. Exploration and evaluation expenses rose to $56.1 million from $10.5 million.
Regulatory milestones included NOAA determining TMC USA’s consolidated USA-A application is in full compliance and certifying the USA-B exploration license application, plus a five-year extension of NORI’s ISA exploration contract. TMC also signed key agreements with Allseas for a 3.0 million wet tonne per year commercial collection system, with commissioning targeted for Q4 2027, and with Mariana Minerals and Eco Minerals to advance onshore processing and offshore survey capabilities.
The Metals Company (Nasdaq: TMC) will host an audio-only conference call and virtual webcast on Thursday, August 13, 2026, at 4:30 p.m. ET to discuss second quarter 2026 financial results and recent corporate developments.
Investors can register separately for the dial-in and webcast. A replay of the webcast will be available approximately two hours after the event in the ‘Investors’ section of the company’s website under ‘Media’ > ‘Events and Presentations’.
MasTec (NYSE: MTZ) announced the appointment of Alex Spiro to its Board of Directors as a Class III Director. Spiro has over a decade of experience advising Fortune 500 companies on regulatory investigations, corporate governance, securities matters, complex litigation and strategic transactions.
According to MasTec, Spiro is also an active investor, advisor and public company director with experience in energy, mining and technology. He currently serves on the boards of TMC the metals company (Nasdaq: TMC) and CleanCore Solutions (NYSE: ZONE). Spiro holds a law degree from Harvard Law School and has held multiple academic and non-profit leadership roles at Harvard and with the Reform Alliance.
TMC (Nasdaq: TMC) announced that the Seabed Disputes Chamber of the International Tribunal for the Law of the Sea unanimously ordered provisional measures to protect the due-process and fair-treatment rights of its subsidiaries Nauru Ocean Resources (NORI) and Tonga Offshore Mining (TOML) in their proceedings against the International Seabed Authority (ISA).
The Chamber instructed the ISA to act in accordance with the applicable legal framework, follow due-process requirements, and provide NORI and TOML sufficient clarity and information on procedures and inquiries, including NORI’s exploration contract extension application. Both sides were directed to cooperate and avoid actions that might aggravate the disputes.
The Metals Royalty Company (NASDAQ:TMC) reported that its portfolio royalty asset, the Mesabi Metallics iron ore project in Nashwauk, Minnesota, completed its first production blast on July 10, 2026. Mesabi used a 66-hole pattern to fracture approximately 211,000 tons of ore, opening the first ramp into the pit for 400-ton haul trucks.
The company said this is an on-schedule step toward first pellet production, with weekly blasting expected as the mine advances toward full-scale output. Ore from the Mesabi Project is expected to be processed into DR-grade pellets subject to TMCR’s 1.0% index-priced gross overriding production royalty with a revenue floor. According to TMCR, the Mesabi Royalty has anticipated annual cash flow potential of about $11 million per year at 7.28 Mtpa over 23 years, with a near-term pathway to 8.5 Mtpa and roughly $13 million per year.
The Metals Royalty Company (Nasdaq:TMCR) provided an update on Mesabi Metallics' Nashwauk, Minnesota project following an executive site visit.
Overall completion is 95.5% as of May 31, 2026, with engineering 99.0%, procurement 99.3%, and construction 91.4%. Commissioning of Line 1 is targeted for July/August 2026. Based on information from Mesabi Metallics, the project is reported to be fully financed to first production. Mesabi is expected to become one of few significant domestic producers of merchant DR-grade iron ore pellets in North America and is expected to be among the lowest-cost iron ore producers globally.
The Metals Royalty Company (Nasdaq:TMCR) closed the acquisition of a 1.0% index-priced gross overriding production royalty with a revenue floor on the Mesabi Metallics iron ore project in Minnesota for $132.5 million, including $7.5 million in TMCR shares.
TMCR exercised an option to buy an additional 1.0% Mesabi royalty on the same terms by July 31, 2026, and appointed Michael Hess as Non-Executive Co-Chairman. The Mesabi royalty is expected by TMCR to offer potential annual royalty cash flow of up to approximately $13.0 million over a forecast 23-year mine life, with commissioning targeted for H2 2026.