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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.
TMC the metals company (Nasdaq: TMC) has announced through its subsidiary NORI the submission of over 270,000 benthic biological occurrences to the International Seabed Authority's DeepData catalogue. This data comes from 17 offshore environmental campaigns conducted over the last decade, forming part of a comprehensive dataset aimed at supporting TMC's Environmental Impact Statement for the NORI-D Nodule Project. The dataset is expected to enhance understanding of biodiversity and support informed decision-making regarding nodule collection operations. Additional data is to be shared in the coming months, with numerous papers expected to be published from this research.
TMC the metals company Inc. (Nasdaq: TMC) provided its Q4 and FY 2022 corporate update, reporting a net loss of $109.6 million for Q4 and $171 million for the year. Loss per share was $0.41 for Q4 and $0.71 for FY 2022. Despite these losses, TMC highlighted successful trials of its nodule collection technology and significant progress in its NORI-D Project, including the collection of over 3,000 tonnes of nodules. TMC secured a $25 million credit facility and entered an MoU with PAMCO for processing nodules. The company holds approximately $46.8 million in cash, indicating sufficient liquidity for operations in the next year.
TMC the metals company announced the completion of a lifecycle assessment (LCA) for its NORI-D Polymetallic Nodule Project, reviewed by Benchmark Mineral Intelligence. The LCA, which compares the environmental impacts of extracting battery metals from seabed nodules versus land-based sources, indicates that TMC's method outperforms traditional mining in most environmental impact categories. Key findings suggest a 70-80% reduction in emissions, particularly in nickel production. This assessment aims to reveal impact hotspots and improve sustainability in the context of rising global demand for battery metals, essential for the energy transition.
TMC has signed a non-binding MOU with Pacific Metals Co Ltd (PAMCO) to evaluate processing 1.3 million tonnes of wet polymetallic nodules annually starting in 2025. This initiative aligns with TMC’s capital-light strategy aimed at commercial production by late 2024, utilizing existing assets requiring minimal changes. PAMCO will analyze a 22-tonne PMN sample collected in November 2022 for processing viability at its Hachinohe facility, producing nickel-copper-cobalt alloy and manganese silicate. The companies aim to establish a binding agreement for toll-processing in 2023, reinforcing their commitment to sustainable practices and efficient resource management.
The Metals Company (TMC) announced a conference call scheduled for March 23, 2023, at 4:30 p.m. ET to discuss its fourth quarter financial results and recent corporate developments. Investors can register for audio-only dial-in or virtual webcast options. TMC focuses on sourcing lower-impact battery metals from seafloor polymetallic nodules, aiming to support the clean energy transition while minimizing environmental impacts. The company holds exploration rights for three areas in the Clarion-Clipperton Zone of the Pacific Ocean, under the supervision of the International Seabed Authority.
The Metals Company (Nasdaq: TMC) announced a conference call on March 23, 2023, at 4:30 p.m. ET to discuss their fourth quarter financial results and recent corporate developments. The call will provide insights into their strategies as an explorer of lower-impact battery metals from seafloor polymetallic nodules, supporting clean energy transitions. The event can be accessed via an audio-only dial-in or a virtual webcast, both of which require registration. The Metals Company operates under a dual mission to minimize environmental impact while supplying essential metals for sustainable energy.
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