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TMC the metals company Inc. - TMC STOCK NEWS

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TMC The Metals Company Inc. (symbol: TMC) is a pioneering deep-sea minerals exploration company engaged in the collection, processing, and refining of polymetallic nodules found on the seafloor in international waters of the Clarion Clipperton Zone (CCZ). With operations spanning across Nauru, Singapore, Tonga, and North America, TMC aims to supply critical battery metals with minimal environmental impact.

The polymetallic nodules targeted by TMC are rich in essential metals like nickel, cobalt, copper, and manganese, crucial for the production of electric vehicle batteries and clean energy technologies. TMC’s dual mission revolves around providing these metals for the global energy transition and promoting sustainable practices by tracing, recovering, and recycling the metals.

One of TMC’s significant achievements is securing exploration and commercial rights to three contract areas in the CCZ. These areas are regulated by the International Seabed Authority (ISA) and sponsored by the governments of Nauru, Kiribati, and the Kingdom of Tonga. The CCZ itself is a vast geological submarine fracture zone covering approximately 4.5 million square kilometers in the Eastern Pacific Ocean.

Recently, TMC has garnered considerable support from U.S. legislative bodies advocating for the responsible exploration and collection of seafloor resources. This includes the introduction of the Responsible Use of Seafloor Resources Act (RUSRA) and calls for the U.S. to support allied partners in this industry. TMC’s initiatives are seen as a way to reduce over-dependence on adversarial nations for critical minerals, thus bolstering national security and supporting clean energy transitions.

In its latest news, TMC announced the submission of comprehensive environmental data to the ISA’s DeepData platform, representing a decade-long effort to establish an environmental baseline for its NORI-D exploration area. This submission is a testament to TMC’s commitment to scientifically assessing and mitigating the environmental impacts of deep-sea mining.

Furthermore, TMC’s ongoing projects include studies on the feasibility of establishing a domestic refinery for nodule-derived products in the U.S., with potential funding from various governmental programs. This aligns with the broader legislative push to revitalize American manufacturing and secure a stable supply of critical minerals.

TMC continues to collaborate with leading scientists and marine research institutions to advance its environmental and social impact assessments, ensuring that their operations align with global sustainability goals. For more detailed information about their projects and updates, visit their official website at www.metals.co.

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TMC the metals company has praised the U.S. House of Representatives for introducing legislation to allocate $2 million for a feasibility study on the domestic refining of polymetallic nodule-derived intermediates. This funding will be channeled through the Defense Department’s Industrial Base Policy Office as part of the fiscal year 2025 National Defense Authorization Act (NDAA). TMC's U.S. subsidiary is also seeking a $9 million grant under the Pentagon’s Defense Production Act Title III program for similar feasibility work. The legislation aims to enhance domestic production of metals like nickel, cobalt, and copper, important for clean energy and defense technologies. TMC plans to begin commercial-scale nodule collection by Q1 2026 and has a memorandum of understanding with Pacific Metals Co. for initial processing. The move is seen as a strategic step to reduce U.S. dependence on foreign critical minerals, aligning with Executive Order 14017 to strengthen supply chains and revitalize American manufacturing.

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TMC the metals company (Nasdaq: TMC) reported its Q1 2024 financial results, highlighting significant developments. The company used $11.9 million in operations and reported a net loss of $25.2 million, or $0.08 per share. TMC's total liquidity stands at approximately $49 million, including cash and credit facilities. Operational highlights included the world's first production of nickel sulfate from deep-seafloor polymetallic nodules and extensive environmental data submissions to the International Seabed Authority. Notable appointments included Silicon Valley investor Steve Jurvetson joining as Vice Chairman. TMC's geopolitical engagements involve discussions with the Pentagon and Congress about nodule processing and refining in the U.S.

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TMC's subsidiary, NORI, submitted a vast environmental dataset to the International Seabed Authority, detailing findings from numerous campaigns conducted over a decade. The dataset includes extensive benthic and pelagic biological occurrences, seafloor images, and time-series data. This submission is part of a broader dataset in the Clarion Clipperton Zone, forming the basis of an Environmental Impact Assessment for an exploitation contract application.

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The Metals Company (Nasdaq: TMC) will host a conference call on Monday, May 13, 2024, to discuss first quarter financial results and recent corporate developments. The call will include an audio-only dial-in option and a virtual webcast with slides.

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TMC and SGS have successfully produced the world's first nickel sulfate from deep-seafloor polymetallic nodules, showcasing TMC's potential in the battery market. The collaboration with industry leaders has led to the development of an efficient flowsheet design that processes high-grade nickel matte directly to nickel sulfate, offering an environmentally friendly alternative to traditional nickel sources. TMC's exploration rights to large nickel deposits could reduce reliance on rainforest-sourced nickel laterites, benefiting ecosystems and local communities.
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TMC, the metals company Inc., appoints Steve Jurvetson as Vice Chairman and Special Advisor to the CEO. Jurvetson, a renowned investor, brings extensive experience in technology investments and successful IPOs. His role will help TMC transition into commercial production of battery metals from seafloor nodules.
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TMC the metals company Inc. provides a corporate update and financial results for Q4 2023 and FY 2023. The company reported a net loss of $33.5 million for Q4 and $73.8 million for FY 2023, with total cash on hand of $6.8 million at December 31, 2023. Operational highlights include the expected timeline to first production in 2026 and key research campaigns evaluating seafloor ecosystem recovery. TMC also shared findings on environmental impacts, produced nickel sulfate from nodules, and signed an MoU with PAMCO. Industry updates include developments at the International Seabed Authority and U.S. Congress initiatives. Financially, TMC reported decreased exploration and evaluation expenses in 2023 compared to 2022, with a net loss improvement year over year.
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The Metals Company (TMC) to host a conference call to discuss Q4 and full-year financial results and corporate updates. The call will take place on March 25, 2024, at 4:30 p.m. ET. Investors can register for the audio-only dial-in or virtual webcast with slides.
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Former U.S. government officials and military officers, including Hillary Clinton and Leon Panetta, urge Senate to ratify UNCLOS for U.S. to join International Seabed Authority. TMC, an explorer of critical battery metals, supports the call amid concerns of China and Russia exploiting seabed resources.
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The Responsible Use of Seafloor Resources Act (RUSRA) aims to support the collection of polymetallic nodules for critical minerals, endorsed by TMC the metals company Inc. The bill addresses the need for U.S. competitiveness in clean energy technologies and national defense while reducing over-dependence on adversarial nations.
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FAQ

What is the current stock price of TMC the metals company (TMC)?

The current stock price of TMC the metals company (TMC) is $0.8022 as of December 2, 2024.

What is the market cap of TMC the metals company (TMC)?

The market cap of TMC the metals company (TMC) is approximately 265.7M.

What does TMC The Metals Company Inc. do?

TMC is a deep-sea minerals exploration company engaged in collecting, processing, and refining polymetallic nodules found on the seafloor in the Clarion Clipperton Zone.

Where does TMC operate?

TMC operates in Nauru, Singapore, Tonga, and North America.

What are polymetallic nodules?

Polymetallic nodules are mineral deposits found on the seafloor, rich in essential metals such as nickel, cobalt, copper, and manganese.

Why are polymetallic nodules important?

These nodules contain critical metals crucial for producing electric vehicle batteries and clean energy technologies.

What is the Clarion Clipperton Zone (CCZ)?

The CCZ is a geological submarine fracture zone in the Eastern Pacific Ocean, spanning approximately 4.5 million square kilometers.

What recent legislation supports TMC's work?

The Responsible Use of Seafloor Resources Act (RUSRA) supports international governance of seafloor resource exploration and responsible polymetallic nodule collection.

How does TMC contribute to environmental sustainability?

TMC collaborates with scientists to assess and mitigate the environmental impacts of deep-sea mining and aims to trace, recover, and recycle the metals they supply.

What are TMC's future projects?

TMC is studying the feasibility of establishing a domestic refinery for nodule-derived products in the U.S. and continues to submit environmental data for regulatory assessment.

How does TMC support U.S. national security?

By providing a stable supply of critical minerals, TMC helps reduce the U.S.'s dependence on adversarial nations, supporting national security and clean energy transitions.

Where can I find more information about TMC?

More information is available on TMC's official website at www.metals.co.

TMC the metals company Inc.

Nasdaq:TMC

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265.74M
171.53M
52.18%
5.74%
3.3%
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