Tmc The Metals Company Inc Stock Price, News & Analysis

The Metals Company (TMC) will participate in key upcoming conferences focused on climate change and energy transition.

The company is set to present at the Bank of America Transforming World Conference on November 10, 2021, followed by the Piper Sandler Battery Summit on November 17, 2021, and the Goldman Sachs Global Metals & Mining Conference on November 18, 2021. The events will feature presentations from CEO Gerard Barron and CFO Craig Shesky, emphasizing TMC's commitment to lower-impact battery metals sourced from seafloor polymetallic nodules, supporting the clean energy transition.

The Metals Company (Nasdaq: TMC) has successfully completed an event in Rotterdam with its partner, Allseas Group S.A., to showcase the development of a deep-sea collection system for polymetallic nodules. The company’s vessel, Hidden Gem, is being modified to recover metals essential for electric vehicles (EVs), potentially sufficient for 280 million EVs. TMC aims to provide a low-cost, sustainable supply of critical minerals while minimizing environmental impact. The Hidden Gem is set for deployment in mid-2022.

The Metals Company (TMC) will host a conference call on November 11, 2021, at 4:30 p.m. ET to discuss its third quarter financial results and corporate updates. The event follows a press release detailing these updates, scheduled for release before the call. Participants can join via a virtual webcast or by dialing in. TMC focuses on exploring lower-impact battery metals from seafloor polymetallic nodules, aiming to support the clean energy transition with minimal environmental impact. The company holds rights to three contract areas in the Clarion-Clipperton Zone, regulated by the International Seabed Authority.

The Metals Company (TMC) has initiated a pilot hydrometallurgical refining campaign in collaboration with SGS to refine battery metals from seafloor polymetallic nodules. This follows a successful pyrometallurgical campaign where an intermediate product rich in copper, nickel, and cobalt was produced. The pilot campaign aims to produce copper cathode and battery-grade nickel and cobalt sulfate crystals, marking progress toward a full-scale metallurgical plant in the U.S. TMC's NORI-D project is expected to process 9.5 Mtpa of nodules, generating significant quantities of critical battery metals.

The Metals Company (NASDAQ: TMC) has reaffirmed its development and capital outlook, aiming to submit an application to the International Seabed Authority for an Exploitation Contract for the NORI-D area by Q3 2023. The area is projected to have a net present value of $6.8 billion based on conservative metal prices. With $113 million in cash as of September 30, 2021, TMC plans to complete key milestones including a pilot plant program and an Environmental Impact Assessment. The company is strategically positioned within the clean energy transition, addressing increasing demand for battery metals.

The Metals Company (TMC) announced the mobilisation of its Environmental Expedition 5C, part of a $75 million deep-sea research program in the Clarion Clipperton Zone. This expedition aims to establish an environmental baseline to assess the impacts of its proposed operations for sourcing critical battery metals from polymetallic nodules. TMC has identified over 1.6 billion tonnes of nodules, enough for 280 million electric vehicles. The project was recently ranked the top nickel project globally, with resource confidence improving from inferred to indicated status.

The Metals Company (TMC) has made progress towards establishing a full-scale metallurgical processing plant for battery metals. The company successfully derived an alloy of high-grade battery metals from a pilot smelting campaign, executed in partnership with Expert Process Solutions. This initiative follows a previous calcining campaign, underscoring the feasibility of using rotary kiln technology. TMC aims to minimize waste and provide critical metals for electric vehicle batteries, showcasing the potential of polymetallic nodules as an alternative to traditional mining.

The Metals Company (TMC) announced the arrival of the Hidden Gem, a 228-meter-long former drill ship, in Rotterdam for conversion into a sub-sea mining vessel, expected to be the first of its kind classified by the American Bureau of Shipping. The vessel, acquired by strategic partner Allseas, will facilitate the deployment of a 4.5 km riser for recovering polymetallic nodules from the seabed. TMC aims to conduct pilot mining tests by mid-2022, following recent completion of its SPAC merger and public listing on Nasdaq.

The Metals Company has completed its business combination with Sustainable Opportunities Acquisition Corporation (SOAC), approved by SOAC shareholders on September 3, 2021. The transaction provides TMC with $137.5 million in gross cash proceeds, enabling it to enhance its focus on environmentally sustainable production of battery metals. TMC's shares will begin trading on Nasdaq under the ticker symbol TMC on September 10, 2021. The company plans to conduct pilot trials for nodule collection by 2022 and aims to complete environmental impact studies by 2023.