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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 International Seabed Authority (ISA) has completed its review of the Environmental Impact Statement (EIS) for The Metals Company's (TMC) subsidiary, Nauru Ocean Resources Inc. (NORI). This approval allows NORI to conduct pilot collection system trials in the Clarion Clipperton Zone. These trials are set to begin later this month and will include independent monitoring by various research institutions. Approximately 3,600 tonnes of polymetallic nodules are expected to be collected. This marks the first such trials in the CCZ since the 1970s.
TMC the metals company reported a net loss of $12.4 million for Q2 2022, with a loss per share of $0.05. The company holds approximately $46.3 million in cash and has initiated a private placement financing for 38 million shares at $0.80 per share, aiming for gross proceeds of $30.4 million. With anticipated proceeds, TMC expects to sustain operations beyond the July 2023 deadline set by the International Seabed Authority for exploitation regulations. Recent pilot collection system trials were successful, paving the way for future testing in the NORI Area D.
TMC the metals company Inc. (Nasdaq: TMC) announced a PIPE financing of $30.4 million, primarily from existing shareholders and insiders, to purchase common shares at $0.80 per share. The company expects $30 million in net proceeds will sustain operations for at least the next year, critical as the International Seabed Authority finalizes exploitation regulations. CEO Gerard Barron acknowledged strong demand for critical minerals, but noted inflation's impact on offshore costs. The transaction aims to support milestones preceding the anticipated NORI-D application submission to the ISA.
The Metals Company (TMC) announced a collaboration with Australia’s CSIRO and a consortium of research institutions to develop an ecosystem-based management and monitoring plan (EMMP) for its deep-sea polymetallic nodule collection operations in the Clarion Clipperton Zone. This research will utilize TMC’s extensive environmental baseline data to establish indicators and tolerance limits aimed at minimizing ecological impacts. The EMMP is expected to inform TMC's Adaptive Management System, enhancing operational efficiencies as the company prepares for commercial operations starting in 2024.
The Metals Company (Nasdaq: TMC) has successfully conducted deep-water trials for its polymetallic nodule collector vehicle and riser system. Following these advancements, the company plans to participate in several key conferences in June 2022, including the Benchmark Mineral Intelligence Battery Gigafactories USA 2022 and the PDAC Convention. These events will feature discussions on nickel and cobalt, essential battery metals, with participation from notable executives like Craig Shesky and Gerard Barron. The company's mission focuses on providing sustainable battery metals with minimal environmental impact.
TMC the metals company Inc. (TMC) released its inaugural Impact Report, focusing on its mission to operate sustainably while unlocking high-grade battery metals from seafloor polymetallic nodules in the Clarion Clipperton Zone (CCZ). The report outlines TMC's governance, stakeholder engagement, and environmental measures, emphasizing the necessity of these metals for the energy transition. TMC aims to create a circular metals economy and has made strides in environmental knowledge, operational transparency, and gender parity within its workforce. The report serves as the company's Communication of Progress for 2021.
TMC the metals company Inc. (Nasdaq: TMC) has successfully completed tests of a riser system and flexible jumper hose, pivotal for its pilot nodule collection system in collaboration with Allseas Group. Deployed from the Hidden Gem vessel to depths of 745 meters, these systems are set to be integral in future trials at TMC's NORI-D contract area, including a 4-kilometer riser deployment. This pilot will serve as a foundation for TMC’s first commercial production system, addressing the increasing demand for critical battery metals.
TMC the metals company reported a first-quarter 2022 net loss of $21.1 million, or $0.09 per share, improved from a net loss of $55.7 million in Q1 2021. Cash reserves stood at $69.0 million, sufficient for over 12 months of operations. The company is advancing partnerships, including a potential nodule processing plant in India with Epsilon Carbon. Significant progress was made with pilot nodule collection systems, aiming for a targeted 1.3 Mtpa capacity by Q4 2024. TMC's NORI and TOML projects rank among the largest undeveloped nickel projects globally.
TMC the metals company Inc. (Nasdaq: TMC) successfully conducted initial deep-water trials for its polymetallic nodule collector vehicle in the Atlantic Ocean. This marks a significant milestone as the vehicle was deployed to a depth of 2,470 meters, where it underwent rigorous testing, confirming its operational capabilities under extreme conditions. Upcoming trials will involve deploying a four-kilometer-long riser along with a jumper hose to connect the collector vehicle. These tests are part of TMC's efforts to collect nodules rich in critical metals for battery production, aiding the clean energy transition.
The Metals Company (TMC) announced results from a study by SINTEF showing that its nodule-derived manganese silicate can serve as an effective substitute for traditional manganese ores in steelmaking.
This product may improve production costs and reduce CO2 emissions, with potential value-in-use gains of 7% to 17% depending on carbon tax regimes. TMC estimates that this manganese silicate could contribute nearly 30% of future revenues, highlighting its significant role in the steelmaking supply chain.
