Mentioned:
The United States of America is beginning to embrace deep sea mining. And The Metals Company wants to be on the leading edge of it.
What’s happening:
- The Metals Company (NASDAQ: TMC) has officially submitted two applications for exploration licenses to the National Oceanic and Atmospheric Administration and an application for a commercial recovery permit under the Deep Seabed Hard Minerals Act
Why it matters:
- This is the first time ever that a publicly traded company has applied for a commercial recovery permit for deep sea minerals in the high seas under United States regulations
Going deeper:
- American President Donald Trump just recently signed a new executive order focused on accelerating permitting for securing seabed minerals, which is widely considered to be a pivotal paradigm shift for deep sea mining at the federal level
- The Metals Company has publicly stated that their exploration plans in the Clarion Clipperton Zone in the Central Pacific Ocean contains 1.6M wet tonnes of polymetallic nodules that have already been identified and could possibly contain another 500M wet tonnes of polymetallic nodules if explored further
- The existing polymetallic nodules in the Clarion Clipperton Zone have shown extremely high deposits of important critical minerals, including nickel, copper, cobalt and manganese
The intrigue:
- The Metals Company previously made history when they became the first public company to ever successfully produce collate sulphate from the mining and extraction of deep sea polymetallic nodules
