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TMC the metals company Inc. - TMC STOCK NEWS

Welcome to our dedicated page for TMC the metals company news (Ticker: TMC), a resource for investors and traders seeking the latest updates and insights on TMC the metals company stock.

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.

News

Pentagon to Deliver Report on Domestic Processing of Seafloor Nodules by March 1 as President Biden Signs NDAA

Rhea-AI Summary
TMC the metals company (Nasdaq: TMC) welcomes the passage of the 2024 National Defense Authorization Act, which directs the Department of Defense to submit a report assessing the domestic processing of seafloor polymetallic nodules by March 1, 2024. The Act aims to establish a secure supply chain of critical and strategic minerals and materials, reducing reliance on sources from foreign adversaries. TMC has received support from congressional leaders and former military leaders, urging the Biden Administration to assess domestic processing of seafloor polymetallic nodules to secure key energy transition metals and close national security vulnerabilities.
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TMC Subsidiary NORI Completes Key Offshore Research Campaign, Evaluating Seafloor Ecosystem Function a Year Post Nodule Collection Test

Rhea-AI Summary
Nauru Ocean Resources Inc. (NORI) conducted a successful offshore scientific research campaign to assess seafloor impacts and recovery rates for potential polymetallic nodule collection operations in the Clarion Clipperton Zone (CCZ). The company, under The Metals Company (Nasdaq: TMC), overcame illegal disruptions from Greenpeace International to gather essential environmental data, spending ~$150 million on cumulative Environmental and Social Impact Assessments (ESIAs) over the last 11 years. The results of the latest campaign will inform NORI's application to the International Seabed Authority (ISA) for a commercial exploitation contract, with plans to submit following the July 2024 meeting of the ISA.
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Thirty-One Members of Congress Call Upon Pentagon to Develop Plan for Processing Deep-Sea Polymetallic Nodules

Rhea-AI Summary
TMC the metals company Inc. (Nasdaq: TMC) is an explorer of the world’s largest estimated undeveloped source of critical battery metals. The company is involved in deep-sea polymetallic nodule collection and processing, with a focus on securing key energy transition metals and closing national security vulnerabilities. TMC has received support from Members of Congress, including the House Armed Services Committee and former Military leaders, as well as bipartisan coalitions, urging the U.S. Government to assess domestic processing of seafloor polymetallic nodules.
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Dutch Court Orders Greenpeace Protesters Off NORI Research Vessel, Greenpeace Complies

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TMC The Metals Company Inc. (TMC) announced that the District Court of Amsterdam has ordered Greenpeace International to immediately disembark from the research vessel MV Coco, which is conducting environmental and scientific studies as part of its subsidiary Nauru Ocean Resources Inc (NORI)’s Environmental and Social Impact Assessment. TMC CEO & Chairman Gerard Barron commented on the court opinion and stated that while they respect Greenpeace’s right to peaceful protest, their priority is to ensure the safe continuance of their legally-mandated operations and the safety of all involved. The court-ordered penalties were issued to compel Greenpeace to comply with the order, and TMC and NORI retain their legal rights to pursue compensation for any financial losses incurred due to Greenpeace’s actions. TMC remains dedicated to collaboration and dialogue with all stakeholders, including environmental groups, as they continue their pioneering work to collect and share important data with the world to enable informed decision-making.
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New Benchmark Study Highlights Impacts of Nickel and Cobalt Mining on Critical Forested Carbon Sinks Amid Battery Metals Boom

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TMC the metals company Inc. (TMC) has announced the completion of a study by Benchmark Mineral Intelligence on the impact of terrestrial cobalt mining in the Democratic Republic of Congo (DRC) and nickel mining in Indonesia on carbon sinks. The study found that 1 kg of nickel mined in Sulawesi removes forests containing carbon stock equivalent to 7.0 and 9.4 kg of CO2e, and 1 kg of cobalt mined in Katanga removes 3.6 kg of CO2e. Mining activities cause carbon sequestration services loss of 4.8g and 6.5g of CO2e respectively for nickel, and 9.3g of CO2e for cobalt per year.
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U.S. Senators Push for UNCLOS Ratification as Members of Congress Call for ISA to Adopt Seafloor Mining Regulations

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TMC the metals company Inc. (TMC) commends a bipartisan resolution urging the U.S. Senate to ratify the UN Convention on the Law of the Sea (UNCLOS). The company acknowledges the initiative to assert a leadership role in governing the high seas and shore up supply chains for critical battery materials. TMC is an explorer of the world’s largest estimated undeveloped source of critical battery metals, including cobalt, nickel, and manganese.
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TMC and PAMCO Sign Binding MOU to Complete Feasibility Study to Process Polymetallic Nodules into Battery Metal Feedstocks

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TMC - The Metals Company Inc. (Nasdaq: TMC) has signed a binding MOU with Pacific Metals Co Ltd (PAMCO) to process 1.3 million tonnes of wet polymetallic nodules per year at PAMCO's Hachinohe smelting facility. This is part of the NORI-D Project Zero development, aligning with TMC's capital-light strategy. PAMCO will undertake a pilot demonstration on a 2,000-tonne PMN sample to confirm commercial operating parameters and engineer additional equipment. The parties aim to finalize definitive processing agreements in Q3 2024.
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The Metals Company Provides Third Quarter 2023 Corporate Update

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TMC the metals company Inc. (Nasdaq: TMC) provided a corporate update and financial results for Q3 2023. Financial highlights include a net loss of $12.5 million and total cash of $22.5 million. CEO Gerard Barron commented on the focus on moving from exploration to exploitation phase and targeting commercial production as early as Q4 2025.
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Researchers to Return to the Site of NORI’s Nodule Collection System Test to Assess Seafloor Ecosystem Function A Year After the Test

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The Metals Company (Nasdaq: TMC) announces an upcoming offshore campaign to assess the environmental impact of proposed polymetallic nodule collection operations, with a focus on ecosystem recovery and functioning. The campaign aims to support NORI's application for a commercial exploitation contract. The company has spent approximately $150 million on ESIA over the last 11 years, with the campaign expected to commence in Q4 2023.
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The Metals Company Announces Third Quarter 2023 Corporate Update Conference Call for Thursday, November 9, 2023

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The Metals Company (Nasdaq: TMC) will host a conference call on November 9, 2023, to provide an update on third quarter financial results and recent corporate developments. The call will be held at 4:30 p.m. ET and can be accessed via audio-only dial-in or virtual webcast with slides. The webcast will be available for replay on the company's website.
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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 $0.9175 as of November 22, 2024.

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

The market cap of TMC the metals company (TMC) is approximately 301.5M.

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.

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TMC the metals company Inc.

Nasdaq:TMC

TMC Rankings

#3544 Ranked by Market Cap
N/A Ranked by Dividends

TMC Stock Data

301.50M
153.91M
52.18%
5.74%
3.3%
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