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TMC The Metals Company Inc (TMC) provides essential updates on deep-sea mining developments and sustainable battery metal solutions. This hub aggregates official press releases, financial disclosures, and strategic partnership announcements related to the company's pioneering work in harvesting polymetallic nodules from the Clarion Clipperton Zone.
Investors and industry observers will find timely updates on operational milestones, environmental impact studies, and progress toward commercial-scale nodule collection. The curated news feed serves as a critical resource for tracking TMC's role in supplying metals for electric vehicles and renewable energy storage systems.
Key updates include quarterly financial results, technology partnerships, regulatory developments, and sustainability initiatives. All content undergoes strict verification to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for direct access to TMC's evolving narrative in deep-sea resource exploration. Regular updates provide stakeholders with the insights needed to monitor this innovative approach to sustainable mineral sourcing.
TMC the metals company (Nasdaq: TMC) has appointed Rutger Bosland as Chief Innovation and Offshore Technology Officer (CIOTO) to lead their commercial deep-sea mining operations. Bosland, previously Deep-Sea Mining Manager at Allseas, brings nearly two decades of experience in offshore engineering and led the development of TMC's nodule collection system.
As CIOTO, Bosland will focus on optimizing the commercial-scale nodule collection system while ensuring minimal environmental impact. His previous achievements include leading an 80+ engineer team in developing the Hidden Gem - the world's first subsea mining vessel classed by the American Bureau of Shipping.
TMC's NORI and TOML projects are currently ranked as the planet's largest undeveloped nickel projects. In 2022, the company successfully collected over 3,000 tons of nodules from the seafloor. TMC has recently initiated the process with NOAA to apply for exploration licenses and commercial recovery permits under the Deep Seabed Hard Mineral Resources Act of 1980.
TMC (Nasdaq: TMC) reported its Q4 and full-year 2024 financial results, with a quarterly net loss of $16.1 million ($0.05 per share) and annual net loss of $81.9 million ($0.25 per share). The company's current liquidity stands at $43 million, with cash on hand of $3.5 million.
Key developments include:
- TMC USA initiated pre-application consultation with NOAA for seabed mining permits, expected submission in Q2 2025
- Successful processing milestone with PAMCO, converting 450 tonnes of calcine into 35 tonnes of Ni-Cu-Co alloy
- Credit facility with ERAS/Barron increased to $44 million and extended to June 2026
- Allseas working capital loan extended to September 2025
- Termination of Marawa Agreement in January 2025
Exploration and evaluation expenses decreased to $8.3 million in Q4 2024 from $26.7 million in Q4 2023, while general and administrative expenses increased to $8.0 million from $6.6 million year-over-year.
TMC the metals company (Nasdaq: TMC) has announced plans to apply for deep-sea mining exploration licenses and commercial recovery permits under the U.S. Deep Seabed Hard Mineral Resources Act (DSHMRA) of 1980. The company's subsidiary, TMC USA, will submit applications to NOAA in Q2 2025.
This strategic move comes after TMC invested over $500 million in understanding and developing nodule resources in the Clarion Clipperton Zone (CCZ). The company cites the International Seabed Authority's (ISA) failure to adopt Exploitation Regulations as a key reason for pursuing the U.S. regulatory path.
NOAA's regulatory framework, established in the 1980s, includes comprehensive environmental protection measures, with a Programmatic Environmental Impact Statement for the CCZ and requirements for site-specific environmental assessments. TMC USA has initiated pre-application consultations with NOAA, viewing the U.S. framework as offering a more predictable and enforceable path forward for deep-sea mineral resource development.
TMC (Nasdaq: TMC), a company focused on exploring critical metals for infrastructure and energy sectors, has scheduled its Fourth Quarter and Full Year 2024 corporate update conference call for Thursday, March 27, 2025. The company, which explores what it describes as the world's largest undeveloped resource of critical metals essential for infrastructure, power generation, transmission, and batteries, will discuss financial results and recent corporate developments. A virtual webcast replay will be accessible through the company's website under the Investors section approximately two hours after the event.
TMC and PAMCO have achieved a significant milestone in nodule processing, successfully producing high-grade nickel-copper-cobalt alloy and manganese silicate during a 14-day smelting campaign at PAMCO's facility in Hachinohe, Japan. The campaign processed approximately 450 tonnes of calcine material using a 3,000 kVA DC electric-arc furnace.
The achievement is part of an 18-month feasibility program utilizing a 2,000-tonne nodule sample collected during TMC's 2022 test mining. The process demonstrates TMC's capital-light approach by leveraging PAMCO's existing facility, which has been operational since 1965, eliminating the need for new processing plants.
This milestone supports TMC's preparation to submit the world's first exploitation application for commercial production. In November 2023, TMC signed an MOU with PAMCO to study the feasibility of processing 1.3 million tonnes of wet polymetallic nodules annually.
TMC (Nasdaq: TMC) welcomes new legislation mandating a Defense Department feasibility study on refining polymetallic nodule-derived intermediates into high-purity nickel, cobalt, and copper products. The study, due by end of 2025, will be led by the Industrial Base Policy Office to evaluate options for strengthening domestic critical mineral supply chains.
TMC's U.S. subsidiary has applied for a $9 million Defense Production Act Title III grant for domestic refinery feasibility work. The company has already demonstrated success in producing high-grade nickel and cobalt products from nodule intermediates in Ontario, while Pacific Metals Co. in Japan is conducting commercial-scale trials using nodules collected during TMC and Allseas' pilot collection system test.
The initiative, supported by bipartisan lawmakers, aims to address U.S. vulnerabilities in battery supply chains, particularly in nickel refining, as identified in Executive Order 14017.
A class action securities lawsuit has been filed against TMC The Metals Company (Nasdaq: TMC) in the U.S. District Court for the Central District of California. The lawsuit alleges that TMC and certain officers made false and misleading statements to investors in financial statements and regarding internal controls between May 12, 2023 and March 25, 2024. Shareholders who suffered significant losses during this period have until January 7, 2025 to request appointment as lead plaintiff. Cohen Milstein Sellers & Toll PLLC, a prominent securities litigation firm, is handling the case.
TMC reported Q3 2024 financial results with a net loss of $20.5 million ($0.06 per share) and $5.7 million cash used in operations. The company announced a Registered Direct Offering with minimum gross proceeds of $17.5 million at $1.00 per share. Current liquidity stands at approximately $63 million. NORI has set June 27, 2025 as the date to submit its ISA exploitation application. The company plans to reduce quarterly cash use to less than $5 million post-application submission and is exploring new strategies including developing a services business for seafloor resource development and optimizing its resource portfolio.
TMC the metals company has announced a US$17.5 million registered direct offering of common shares and Class B warrants. The company is selling 17,500,000 common shares with accompanying warrants to purchase up to 8,750,000 additional shares. Each share and warrant bundle is priced at US$1.00, with warrants exercisable at US$2.00 per share for five years. The warrants include a Company repurchase option at $0.0001 per share if the stock price exceeds $5.00 for 30 consecutive trading days. The offering is expected to close by November 22, 2024, with proceeds intended for working capital and general corporate purposes.
TMC announces its subsidiary NORI will submit ISA exploitation application on June 27, 2025, following discussions with Nauru. The company expects quarterly cash use below $5 million during application review and won't raise funds for Hidden Gem vessel preparation until achieving regulatory clarity or securing non-dilutive financing. TMC is exploring new strategic directions, including developing a services business for seafloor resource development and diversifying its resource portfolio. The ISA Council will receive a revised consolidated text of the draft Mining Code by November 2024. The company plans to reduce operating expenses and is in discussions for services contracts in exploration, resource definition, and environmental assessments.
