Oleblue
1 주 전
https://mailchi.mp/9fcc8bf9569b/tmc_mar25_update-12885472?e=d301df9fff
Dear stakeholders,
Over the last decade, we’ve invested over half a billion dollars to understand and responsibly develop the nodule resource in our contract areas. We built the world’s largest environmental dataset on the CCZ, carefully designed and tested an offshore collection system that minimizes the environmental impacts and followed every step required by the International Seabed Authority. But, despite collaborating in good faith with the ISA for over a decade, it has not yet adopted the Regulations on the Exploitation of Mineral Resources in the Area in breach of its express treaty obligations under UNCLOS and the 1994 Agreement.
We believe we have sufficient knowledge to get started and prove we can manage environmental risks. What we need is a regulator with a robust regulatory regime, and who is willing to give our application a fair hearing. This is why we’ve formally initiated the process of applying for licenses and permits under the existing U.S. seabed mining code.
We invite you to read our CEO’s statement on this exciting new regulatory pathway and look forward to providing further updates next month.
Best regards,
The Metals Company
The Metals Company to Apply for Permits under Existing U.S. Mining Code for Deep-Sea Minerals in the High Seas in Second Quarter of 2025
Our subsidiary The Metals Company USA LLC (“TMC USA”) has formally initiated a process with NOAA under the U.S. Department of Commerce to apply for exploration licenses and commercial recovery permits under existing U.S. legislation, the Deep Seabed Hard Mineral Resources Act of 1980 (DSHMRA). Following extensive legal diligence on DSHMRA, NOAA’s implementing regulations and other applicable environmental protection legislation, the Company strongly believes that the U.S. seabed mining code offers the greatest probability of securing a permit for commercial recovery of deep-sea mineral resources in a timely manner.
Read the Press Release
TMC Announces Fourth Quarter and Full Year 2024 Results
On March 27, we provided a corporate update and fourth quarter and full year financial results for the period ended December 31, 2024.
Read the Press Release
What is the Deep Sea Hard Mineral Resources Act (DSHMRA)?
The U.S. has had a legal path towards deep-sea mining since 1980—long before the ISA existed. DSHMRA and NOAA’s implementation regulations not only predate the ISA, but helped shape the ISA’s draft mining code that remains unadopted after 14 years of negotiations and has been delayed three times.
What research has the National Oceanic and Atmospheric Administration conducted in the CCZ?
Since the 1970s, the CCZ has seen billions in investment and hundreds of research campaigns. Following three commercial mining tests by U.S. companies, NOAA prepared the first Programmatic EIS in 1981 based on its research in the area. By 1995, NOAA reported to Congress that, aside from verifying plume behavior in future tests, nearly all environmental concerns about deep-sea mining had been addressed.
Since pioneering environmental assessments of potential nodule collection, NOAA has been joined by multiple other research institutions in conducting seafloor disturbance experiments using equipment designed for maximum impact. Based upon these studies, which revisited test sites repeatedly over 40 years, we now have extensive data showing that deep-sea life, which is mostly microbial, will likely recover within 50 years. Emerging data based upon tests of modern day mining equipment shows it could be even faster.
Over more than a decade, we’ve repeated much of NOAA’s research in our NORI and TOML areas, and then some! Our dataset is orders of magnitude larger, our collector's footprint much lighter, and our impact modelling far more sophisticated than in the '70s.
But the conclusions are the same: impacts are manageable, and recovery is real.
New Nature Paper Based Upon 1970s Test Mining Finds Near-Total Recovery for Various Fauna After 44 Years
While activists continue to spread baseless claims that nodule collector robots will devastate ecosystems, a new study published in Nature proves otherwise—showing that even with outdated, far more disruptive technology, recovery is not only possible but likely, within decades.
Over 40 years ago, the OMCO consortium conducted test mining trials with a robotic collector using an “Archimedes Screw” propulsion system that disturbed up to 80 centimeters of sediment, raking the seafloor to collect nodules. 44 years later, scientists report near-total recovery in regions affected by sediment plumes which had “no detectable or slightly positive biological impacts”.
Recovery of sediment-dwelling macrofauna and foraminifera in both the mining track and plume areas, with densities statistically comparable to undisturbed control sites
Recolonization of xenophyophores, giant, single-celled organisms that build external tests and are known to promote biodiversity by providing hard-substrate habitat. Their presence marks a critical step in ecological succession and the return of structural complexity
While sessile megafauna such as sponges were scarce in track areas where nodules were completely removed, as was expected, they were observed attached to nodules left behind by the 1979 collector. This suggests a promising mitigation pathway of intentional retention of some nodules on the seafloor to support recolonization by substrate reliant organisms. We expect that around 30% of our contract areas will remain untouched
Plume-affected area showed no long-term negative effects on faunal abundance and even higher densities of some megafaunal groups compared to both disturbed and undisturbed areas, highlighting the limited residual impact of sediment redeposition
Fast forward to 2022, and nodule collection tech has come along way. Our own tracked collector disturbed just the top 3 centimeters of sediment during test mining and NORI and MIT data shows the plume stayed low and settled fast, dispelling activist speculation it could travel tens of thousands of kms.
While the Nature paper noted recovery within four decades, our preliminary data shows we can do much better thanks to the lower-impact footprint of our vehicle. 12 months after test mining, we had already found that density of foraminifera had recovered to 30% of background levels, and diversity to within 50%.
As the researchers note, “efforts to reduce the direct collector impact could be effective in limiting the overall ecological effects.” We agree, and have observed this very fact. Just don’t expect the media to report on the fruits of our labor.
Read the Study
TMC and PAMCO Successful Smelting Campaign
We recently announced that PAMCO had successfully smelted 450 tonnes of calcine into 35 tonnes of Ni-Cu-Co alloy and 320 tonnes of Mn silicate products, during a commercial-scale campaign to process a 2,000-tonne sample of deep-seafloor polymetallic nodules at our partner PAMCO’s Rotary Kiln Electric-Arc Furnace facility in Hachinohe, Japan.
Roland Berger: Deep-sea mining – A Promising Critical Mineral Solution
A new report by consultancy firm Roland Berger finds deep-sea mining “offers major advantages over terrestrial mining “from a strategic, economic and environmental perspective. With deep-sea minerals expected to have a significant impact on supply and demand for numerous minerals, the report argues “countries and companies dependent on critical minerals should review their stance on deep-sea mining and consider stronger engagement to de-risk their supply chains."
Read the Paper
NEW YORK TIMES
NYTimes quotes TMC’s CEO Gerard Barron:
“The United States has had the legal framework and regulations for issuing exploration licenses and commercial recovery permits for deep seabed minerals in international waters,” Mr. Barron said Thursday. “Now there is political will to put existing authorities to use.”
Read the News
REUTERS
Writing in Reuters, Ernie Scheyder notes TMC’s forthcoming applications under the existing U.S. seabed mining code in Q2 2025. Given NOAA's pioneering role in environmental research and regulations for the industry, we believe the administration is well placed to ensure timely and responsible development of these lower-impact metals.
Read the News
NEW YORK TIMES
Since 1989, the U.S. has maintained a seabed mining code allowing for the exploration and commercial recovery of nodules in international waters, and now there is the political will to use it. We’re encouraged by the Department of Commerce’s recognition, as reported by the New York Times’ Eric Lipton, that deep-sea mining is a high seas freedom enjoyed by all nations.
"The Trump administration’s Commerce Department, in a statement to The New York Times late Friday, confirmed that it disagreed with the Seabed Authority’s interpretation of international law."
"'Companies can apply for exploration licenses and commercial recovery permits for deep-sea mining in ocean areas beyond national jurisdiction,' Maureen O’Leary, a department spokeswoman said, citing a 1980 federal law, the Deep Seabed Hard Mineral Resources Act. It has never previously been used to authorize industrial-scale ocean mining."
"Ms. O’Leary added that the U.S. subsidiary of The Metals Company had started consulting with the Commerce Department over deep-sea mining plans. 'The process ensures a thorough environmental impact review, interagency consultations and opportunity for public comment.'"
Read the News
Gerard Barron Speaks to Mining.com?
Gerard recently sat down with Devan Murugan at Mining.com to discuss growing support for deep-sea minerals in Washington and the roadmap ahead to unlocking the planet’s largest source of battery metals.
During the chat, Gerard spoke to the transformational nature of the nodule resource: "we sit on such an enormous undeveloped asset. We don’t get fairly appreciated for the value of that asset. We have 1.6 billion tonnes of these polymetallic nodules like the one I have in my hand on two of our license areas. We are talking about a resource that is approaching a trillion dollars of value."
If you'd like to keep up with Gerard and his latest interviews, be sure to give his social channels a follow.
This document contains links to third-party websites that are not owned or controlled by The Metals Company. The Metals Company has no control over, and assumes no responsibility for the content, privacy policies, or practices of any third-party websites, and does not adopt the disclosure on these websites as its own. You acknowledge and agree that The Metals Company shall not be responsible or liable, directly, or indirectly, for any damage or loss allegedly caused by any content available on or through third-party websites, including any statements or information used or relied upon from these third-party websites. We strongly advise you to read the terms and conditions and privacy policies of any third-party websites that you visit.
abew4me
11 월 전
NEW YORK, May 13, 2024 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of critical battery metals, today announced that its subsidiary NORI has made a second submission of key environmental data from all prior environmental baseline campaigns conducted in the NORI-D exploration area up to January 2022 to DeepData, an open database of contractor data managed by the International Seabed Authority (ISA).
The submission of this massive batch of data, which includes analysis of an extensive set of geochemical and biological samples from across the water column, follows NORI’s decade-long research efforts to define the polymetallic nodule resource and develop an environmental baseline for its NORI-D exploration area, as part of its Environmental and Social Impact Assessment (ESIA) for the NORI-D Nodule Project. Since 2012, the Company has collaborated with leading industry experts and independent scientists from marine research institutions from around the world on its ESIA, gathering data throughout 22 offshore campaigns.
Dr Michael Clarke, Environmental Manager at The Metals Company, said: “This accumulation of baseline data over the last decade represents the most comprehensive dataset ever collected in the CCZ. When combined and compared with the wealth of data gathered during our 2022 test mining and post-disturbance monitoring campaigns, we believe preliminary analysis is demonstrating that much of the conjecture around environmental impacts of nodule collection is not supported by the science. We are looking forward to submitting the Environmental Impact Statement to the ISA and publishing the dozens of academic papers that will result from this work. When this information becomes available, I am confident that objective stakeholders will clearly see that deep-sea nodule collection is a far less impactful way to source critical metals than mining on land.”
This year's ISA data submission highlights include:
Over 12,000 seafloor images from Remotely Operated Vehicle (ROV) operations, leading to:
Annotation and identification of over 30,000 megafauna and xenophyophores occurrences by the UK National Oceanography Centre.
More than 2,000 gelatinous nekton identified by JAMSTEC from high-definition ROV video transects conducted from surface to seafloor.
Data from over 50 deployments of MOCNESS nets, yielding:
Almost 3,000 samples of pelagic biota (micronekton).
World-first samples from depths exceeding 4,000 meters.
Extensive zooplankton samples from 1,500 meters to characterize zooplankton communities.
Three-year data collection from oceanographic moorings providing insights into particulate organic carbon flux in the Eastern CCZ.
Over the coming months, NORI will continue working with research teams to fully collate and categorize the hundreds of terabytes of data and thousands of biological samples that have been collected to date. NORI expects numerous further papers to be published in peer-reviewed journals in the coming months and years, adding significantly to society’s understanding of the deep sea.
Since the late 1960s, over 300 hundred offshore campaigns have been conducted in international waters, with over $2 billion invested in environmental baseline and impact studies and technology development, with most of the capital invested by private companies. To address knowledge gaps, governments and contractors like NORI have spent over 9,000 days – the equivalent of almost 25 years – at sea, assessing the deep-sea environment, research and investment which has accelerated significantly since the establishment of the ISA’s exploration regime.
About The Metals Company
The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the global energy transition with the least possible negative impacts on planet and people and (2) trace, recover and recycle the metals we supply to help create a metals commons that can be used in perpetuity. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga. More information is available at www.metals.co.
Contacts
Media | media@metals.co
Investors | investors@metals.co
Forward Looking Statements
This press release contains “forward-looking” statements and information within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “may,” “plans,” “possible,” “potential,” “will” and variations of these words or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements with respect to the potential impact of the Company’s potential commercial operations, the Company’s expectations with respect to its submission of environmental data, its ESIA, its Environmental Impact Statement, its continued work to collate and categorize its environmental data and future publications and papers. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things: the Company’s strategies and future financial performance; the ISA's ability to timely adopt the Mining Code and/or willingness to review and/or approve a plan of work for exploitation under the United Nations Convention on the Laws of the Sea (UNCLOS); the Company’s ability to obtain exploitation contracts or approved plans of work for exploitation for its areas in the Clarion Clipperton Zone; regulatory uncertainties and the impact of government regulation and political instability on the Company’s resource activities; changes to any of the laws, rules, regulations or policies to which the Company is subject, including the terms of the final Mining Code, if any, adopted by ISA and the potential timing thereof; the impact of extensive and costly environmental requirements on the Company’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the Clarion Clipperton Zone and recovery rates of impacted ecosystems; the Company’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; the Company’s ability to successfully enter into binding agreements with Allseas Group S.A. and other parties in which it is in discussions, if any, including Pacific Metals Company of Japan; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that the Company may recover; risks associated with collective, development and processing operations, including with respect to the development of onshore processing capabilities and capacity and Allseas Group S.A.’s expected development efforts with respect to the Project Zero offshore system; the Company’s dependence on Allseas Group S.A.; fluctuations in transportation costs; fluctuations in metals prices; testing and manufacturing of equipment; risks associated with the Company’s limited operating history, limited cash resources and need for additional financing and risk that such financing may not be available on acceptable terms, or at all; risks associated with the Company’s intellectual property; Low Carbon Royalties’ limited operating history and other risks and uncertainties, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statements, that are described in greater detail in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 25, 2024, as amended. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4c7dc023-c274-4f61-a299-575ebd193951
https://www.globenewswire.com/NewsRoom/AttachmentNg/f51a7757-3ffd-404f-a339-8979af5d7686
abew4me
11 월 전
Wow...once again, the volume of today's trading has surpassed 1 million shares, and we still have 4 hours of trading to go.
There's an old saying: "volume before price". Let's see what happens after Monday's announcement.
The Metals Company Announces First Quarter 2024 Corporate Update Conference Call for Monday, May 13, 2024
NEW YORK, May 06, 2024 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) ("TMC" or "the Company"), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that it will host a conference call on Monday, May 13, 2024, to provide an update on first quarter financial results and recent corporate developments.
First Quarter 2024 Conference Call Details
Date: Monday, May 13, 2024
Time: 4:30 p.m. ET
Audio-only Dial-in: Register Here
Virtual webcast with slides: Register Here
The virtual webcast will be available for replay in the 'Investors' tab of the Company's website under 'Investors' > 'Media' > 'Events and Presentations', approximately two hours after the event.
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