Mentioned:
TMC -14.61% TMCR -9.69%

The Metals Company has major ambitions for the future of deep sea mining. Which is exactly why they’ve just struck a new deal with an offshore engineering giant.

What’s happening:

  • The Metals Company (NASDAQ: TMC) and offshore engineering giant Allseas have entered into a agreement to develop and operate a commercial nodule collection system to operate in the Clarion Clipperton Zone of the Pacific Ocean

Why it matters:‍

  • The Metals Company has publicly stated that they expect this to be the world’s first ever commercial nodule production system

Going deeper:‍

  • Allseas has committed to funding a significant portion of the costs around deploying the nodule production system and plans to recover their investment through future nodule production revenue from The Metals Company
  • The Metals Company also just notably received clearance from the National Oceanic and Atmospheric Administration to advance their permit for full scale commercial recovery in the Clarion Clipperton Zone

The intrigue:‍

‍