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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.
The Metals Company (Nasdaq: TMC) announced it will host a conference call on Thursday, November 14, 2024, to discuss third quarter financial results and recent corporate developments.
The call will take place at 4:30 p.m. ET. Participants can register for the audio-only dial-in or virtual webcast with slides. The replay will be available on the company’s website under the ‘Investors’ section approximately two hours after the event.
TMC and PAMCO have achieved a world-first breakthrough in commercial-scale processing of polymetallic nodules, successfully producing calcine from a 2,000-tonne sample collected during TMC subsidiary Nauru Ocean Resources Inc.'s 2022 test mining. The process took place at PAMCO's Hachinohe Rotary Kiln Electric-Arc Furnace facility in Japan.
Approximately 1,200 tonnes of nodules were fed into the kiln at up to 60 tonnes per hour, producing roughly 500 tonnes of calcine. PAMCO plans to commence the next phase, smelting the calcine into a high-grade nickel-copper-cobalt alloy and manganese silicate in the coming months.
This commercial-scale campaign aims to collect and analyze process data and operational experience in preparation for expected definitive processing agreements between the parties.
TMC the metals company Inc. (Nasdaq: TMC) provided a corporate update and financial results for Q2 2024. Key highlights include:
- Current liquidity of $48.3 million from credit facilities
- Increased borrowing capacity by $7.5 million
- $12.1 million cash used in operations
- Net loss of $20.2 million ($0.06 per share)
Operational achievements:
- Published third annual Impact Report
- Produced world's first cobalt sulfate from seafloor polymetallic nodules
- Added Steve Jurvetson and Brendan May to the Board of Directors
Industry updates include progress on ISA Mining Code negotiations and increased focus on seafloor resources by major economies. TMC remains optimistic about the industry's future despite recent share price performance.
The Metals Company (Nasdaq: TMC), a company exploring lower-impact battery metals from seafloor polymetallic nodules, has announced a conference call scheduled for Wednesday, August 14, 2024, at 4:30 p.m. ET. The call will provide an update on second quarter 2024 financial results and recent corporate developments. Interested parties can register for the audio-only dial-in or access a virtual webcast with slides. A replay of the webcast will be available on the company's website approximately two hours after the event, under the 'Investors' tab in the 'Media' > 'Events and Presentations' section.
TMC, in collaboration with SGS, has successfully produced the world's first cobalt sulfate from deep-seafloor polymetallic nodules. This was achieved through TMC's efficient hydrometallurgical flowsheet design, which processes high-grade nickel-copper-cobalt matte directly to high-purity cobalt sulfate without producing cobalt metal and generates fertilizer byproducts instead of solid waste. This milestone follows TMC’s recent production of nickel sulfate and aims to decrease reliance on land-based cobalt deposits. TMC's projects are deemed the largest undeveloped nickel sources, capable of meeting the needs of 280 million electric vehicles. With increasing demand for critical battery metals, there is heightened interest in marine minerals. In May, Congress allocated $2 million to explore domestic nodule refining capacity, and in March, legislation was introduced to support seafloor nodule collection and processing. TMC also signed an MOU with Pacific Metals for a feasibility study on processing polymetallic nodules.
The Metals Company (TMC) has appointed Brendan May, a prominent sustainability strategist, to its Board of Directors. May, founder of the global consultancy Robertsbridge and former CEO of the Marine Stewardship Council, brings over 25 years of sustainability experience. His appointment aims to aid TMC's transition into commercial production of deep-seafloor polymetallic nodules, essential for the energy transition and global development. CEO Gerard Barron highlighted May's ability to challenge environmental and company positions, fostering better sustainability outcomes. May emphasized the importance of data-driven approaches to address the nuanced and polarizing issues of nodule harvesting. This appointment follows the April addition of Silicon Valley investor Steve Jurvetson to the TMC Board.
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.
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.
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.
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.
