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TMC the metals company Inc. (Nasdaq: TMC) generates frequent news as it advances deep-sea polymetallic nodule projects and related regulatory, technical and financing milestones. The company describes itself as a developer and explorer of lower-impact critical metals from seafloor nodules, with a focus on supplying nickel, copper, cobalt and manganese for energy, defense, manufacturing and infrastructure.
News about TMC often covers quarterly corporate updates, where the company reports operating losses typical of an exploration-stage business, cash balances, exploration and evaluation spending, and general and administrative expenses. These updates also summarize progress on environmental studies, technical trials and regulatory processes, including applications under the U.S. Deep Seabed Hard Mineral Resources Act of 1980 (DSHMRA) and interactions with agencies such as NOAA.
Another major category of TMC news relates to technical and economic studies. The company has announced a Pre-Feasibility Study for its NORI-D Project and an Initial Assessment for additional NORI and TOML areas, both prepared under SEC Regulation S-K Subpart 1300. Press releases detail resource estimates, projected production profiles, cost assumptions and valuation metrics, as well as the involvement of independent Qualified Persons.
Investors following TMC’s news can also expect announcements on sponsorship agreements with the governments of Nauru and Tonga, strategic investments such as the equity placement with Korea Zinc, board appointments, and processing milestones with partners like PAMCO. Industry and policy developments, including executive orders and proposed regulatory changes affecting seabed minerals, feature prominently in the company’s communications.
This news page aggregates these items so readers can track TMC’s exploration progress, regulatory pathway, financing events and technical milestones in one place.
TMC, an explorer of critical battery metals, announced that its subsidiary NORI has signed a non-binding term sheet with Allseas for a commercial nodule collection system. This system aims for a production capacity of 1.3 million tonnes of wet nodules per year, with expected readiness by Q4 2024. The total development costs are projected to be under EUR 100 million, shared equally by both companies. Initial nodule collection fees are estimated at ~EUR 150 per tonne, potentially decreasing by over 20% as production scales. This project could significantly reduce capital requirements and expedite the transition to commercial production.
TMC, The Metals Company (Nasdaq: TMC), has signed a non-binding MoU with Epsilon Carbon to establish a deep-sea nodule processing plant in India. The targeted capacity is over 1 million tonnes per annum, producing intermediate products for lithium-ion batteries. Epsilon plans to deliver a pre-feasibility report by Q4 2024, contingent on necessary contracts and agreements. The partnership aims to leverage TMC's nodules and Epsilon's expertise to tap into India's growing demand for critical minerals.
The Metals Company (Nasdaq: TMC) will host a conference call on March 24, 2022, at 4:30 p.m. EDT to discuss its fourth quarter financial results. Investors can join via phone or a virtual webcast. The company is focused on exploring lower-impact battery metals from seafloor polymetallic nodules and aims to support the clean energy transition while minimizing environmental impacts. Notable upcoming events include participation in various virtual and in-person conferences throughout 2022, highlighting the importance of battery metal supply chains amidst global challenges.
The Metals Company (TMC) has received support from retired U.S. military leaders urging the Department of Defense to explore domestic sources of critical minerals, particularly polymetallic nodules from the Clarion-Clipperton Zone (CCZ). The letter emphasizes the urgency of securing mineral supplies for clean energy technologies. Internationally, France is investing over €300 million in deep-sea exploration for mineral independence, and India has allocated $600 million for its Deep Ocean Mission. TMC's Chairman noted China's dominance in nickel processing, highlighting the significance of domestic mineral resources.
The Metals Company (NASDAQ: TMC) has appointed Kathleen McAllister as an Independent Director, effective April 1, 2022. McAllister brings extensive experience from her leadership roles at various capital-intensive energy firms. With her addition, TMC achieves 50-50 gender parity on its board, joining a select group of companies. Gerard Barron, TMC's CEO, expressed enthusiasm for McAllister’s insights during a crucial development phase in their seafloor polymetallic nodule project, aimed at supplying critical base metals for the energy transition.
A recent peer-reviewed study published in the Yale Journal of Industrial Ecology indicates that producing battery metals from seafloor polymetallic nodules could significantly reduce lifecycle solid waste by 59-93% compared to traditional land ores. The study analyzed waste generation from mining nickel, copper, cobalt, and manganese, finding that land ores create excessive waste per kilogram produced, while nodule-derived production results in much lower waste. As energy transition demands rise, the research highlights the need for environmentally sustainable metal sourcing to meet future needs.
The Metals Company has successfully completed Environmental Expedition 5E, part of its $75 million deep-sea research program aimed at establishing environmental baselines for its polymetallic nodule collection operations. This campaign involved advanced technologies and collaborations with leading marine science institutions, resulting in over 35,000 high-resolution images and 1,200 specimen samples. The data collected will aid in understanding the ecosystem and mitigating impacts from future operations in the Clarion Clipperton Zone, where TMC aims to meet the increasing demand for battery metals in the clean energy transition.
The Metals Company (TMC) has partnered with Kongsberg Digital to develop the world’s first digital twin for subsea nodule collection, enhancing their Adaptive Management System (AMS). This innovative approach aims to predict environmental impacts and streamline deep-sea operations by integrating data from various sources. The AMS will facilitate compliance with ecological thresholds set by the International Seabed Authority. TMC's efforts could support the recovery of 1.6 billion tonnes of polymetallic nodules, sufficient to meet the needs of 280 million electric vehicles.
The Metals Company (Nasdaq: TMC) reported a net loss of $36.7 million for Q3 2021, significantly higher than the $6.8 million loss in Q3 2020. Gross proceeds raised in the quarter totaled $137.6 million, boosting cash reserves to $112.6 million, sufficient to fund operations through Q3 2023. TMC aims to submit an application to the International Seabed Authority for exploitation contracts for its NORI-D area, which contains an estimated 356 million metric tonnes of polymetallic nodules. The company achieved significant milestones in environmental research and pilot plant operations during the quarter.
The Metals Company (NASDAQ: TMC) has completed its Environmental Expedition 5C, part of a
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