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. (Nasdaq: TMC) generates frequent news as it advances deep-sea polymetallic nodule projects and related regulatory, technical and financing milestones. The company describes itself as a developer and explorer of lower-impact critical metals from seafloor nodules, with a focus on supplying nickel, copper, cobalt and manganese for energy, defense, manufacturing and infrastructure.
News about TMC often covers quarterly corporate updates, where the company reports operating losses typical of an exploration-stage business, cash balances, exploration and evaluation spending, and general and administrative expenses. These updates also summarize progress on environmental studies, technical trials and regulatory processes, including applications under the U.S. Deep Seabed Hard Mineral Resources Act of 1980 (DSHMRA) and interactions with agencies such as NOAA.
Another major category of TMC news relates to technical and economic studies. The company has announced a Pre-Feasibility Study for its NORI-D Project and an Initial Assessment for additional NORI and TOML areas, both prepared under SEC Regulation S-K Subpart 1300. Press releases detail resource estimates, projected production profiles, cost assumptions and valuation metrics, as well as the involvement of independent Qualified Persons.
Investors following TMC’s news can also expect announcements on sponsorship agreements with the governments of Nauru and Tonga, strategic investments such as the equity placement with Korea Zinc, board appointments, and processing milestones with partners like PAMCO. Industry and policy developments, including executive orders and proposed regulatory changes affecting seabed minerals, feature prominently in the company’s communications.
This news page aggregates these items so readers can track TMC’s exploration progress, regulatory pathway, financing events and technical milestones in one place.
The Metals Company (NASDAQ: TMC) has appointed Grant Lindner as Project Director for its NORI-D Project, which aims to supply battery metals essential for the clean energy transition. Lindner, with over 25 years of experience, previously held senior roles at BHP and Bechtel, managing significant resource projects. Anthony O'Sullivan, the current Chief Development Officer, resigned for personal and health reasons but will remain during a twelve-month transition period.
This strategic move is expected to strengthen TMC's capability in delivering high-quality project applications.
TMC the metals company has successfully completed its initial pilot collection run of polymetallic nodules in the Clarion Clipperton Zone, collecting approximately 14 tonnes. This marks the first such test since the 1970s. The pilot collector vehicle operated effectively, demonstrating resilience in deep-sea conditions. Concurrent environmental monitoring is underway, collecting data to support an application for an exploitation contract with the International Seabed Authority, expected in the second half of 2023. This pioneering advancement highlights TMC's commitment to sustainable resource extraction.
The Metals Company (TMC) has advanced its environmental program with NORI entering a new phase focused on monitoring the environmental impacts of its integrated nodule collection system trials in the NORI-D area of the Clarion Clipperton Zone (CCZ). A multidisciplinary team of independent scientists will conduct these studies using advanced technology to collect critical data for an exploitation contract application to the International Seabed Authority, expected in late 2023. This marks the first comprehensive testing of a nodule collection system in the CCZ since the 1970s.
The Metals Company (NASDAQ: TMC) announced the appointment of Andrew C. Greig to its Board of Directors, effective September 29, 2022, following the departure of Gina Stryker. Greig brings 35 years of leadership experience, having served as President of Bechtel’s Mining and Metals unit. He is expected to enhance TMC's strategic direction in its mission to supply lower-impact battery metals. Additionally, Sheila Khama will join the Audit Committee, bolstering corporate governance expertise.
The Metals Company (TMC) and UAW have signed a labor neutrality agreement focused on strengthening the critical mineral supply chain for electric vehicle batteries. This partnership aims to support sustainable production while ensuring good-paying union jobs in the U.S. TMC operates with a commitment to environmental protection, processing battery metals from polymetallic nodules found on the seafloor, enough to potentially electrify 280 million vehicles. This agreement underscores the importance of a strong U.S. supply chain for clean energy and aims to secure workers’ rights in the evolving automotive landscape.
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.
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