Tuesday, September 13, 2022 11:47:50 AM
The Metals Company (Nasdaq: TMC) (the “Company” or “TMC”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that the International Seabed Authority has completed its review of the Environmental Impact Statement (EIS) and Environmental Monitoring and Management Plan (EMMP) submitted by its subsidiary, Nauru Ocean Resources Inc (NORI), and recommended that it proceed with its forthcoming collector test.
The conclusion of the International Seabed Authority’s review process allows NORI to proceed with its planned integrated pilot collection system trials in its NORI-D exploration contract area in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean. NORI’s offshore strategic partner Allseas will test a system consisting of a prototype nodule collector at the seafloor and the riser system to bring nodules to the surface production vessel, Hidden Gem. Approximately 3,600 tonnes of polymetallic nodules are expected to be collected during the trial beginning later this month with an expected conclusion in the fourth quarter of 2022.
The trials will be monitored by independent scientists from a dozen leading research institutions around the world who will analyse the environmental impacts of both the pilot nodule collector vehicle and the nodule riser system. The data collected, together with many terabytes of existing baseline data collected by NORI throughout 16 offshore campaigns, will form the basis of NORI’s application to the International Seabed Authority for an exploitation contract.
Gerard Barron, CEO and Chairman of The Metals Company, commented: “Our team has worked tirelessly to produce an EIS, EMMP and integrate constructive feedback and recommendations from the ISA’s Legal and Technical Commission. With this green light from the ISA, the team of world-class engineers from Allseas and scientists from some of the world’s leading deep-sea research institutions that we’ve brought together can begin technology trials and our impact monitoring campaign. We have a couple of exciting and no doubt challenging months ahead of us. The environmental and operational data and insights from these trials will be an important step in ensuring the safe and efficient collection of polymetallic nodules to supply critical battery materials for the clean energy transition.”
Following the submission of its EIS to the International Seabed Authority in July 2021, the Republic of Nauru, the sponsoring state of NORI, undertook an open stakeholder consultation program to solicit comments and feedback. Based upon this feedback and with over 600 comments received, an updated EIS was submitted to the ISA in March 2022. Barron added: “I would like to thank the ISA’s Legal and Technical Commission for their detailed review and feedback which, together with stakeholder comments, has improved the EIS and demonstrates the robustness of the ISA’s regulatory review process.”
Previously, TMC and Allseas announced successful trials of the nodule collector vehicle in deep-water in the Atlantic [see video] as well as harbor wet-test commissioning and shallow-water drive tests in the North Sea.
Development of technologies to collect polymetallic nodules first began in the 1970s when oil, gas and mining majors including Shell, Rio Tinto (Kennecott) and Sumitomo successfully conducted pilot test work in the CCZ, collecting over fifteen hundred tons of nodules. More recently, contractors BGR and GSR conducted several trials of prototype nodule collector vehicles in deep water, and NORI’s forthcoming tests mark the first time this century that an integrated collection system – including a nodule riser – would be trialled in the CCZ.
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 clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. 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 Info
Media | media@metals.co
Investors | investors@metals.co
https://metals.co/
futr
Recent TMC News
- World First: TMC and PAMCO Achieve Breakthrough in Commercial-Scale Processing of Polymetallic Nodules, Successfully Producing Calcine • GlobeNewswire Inc. • 09/09/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/16/2024 08:18:24 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 08:39:12 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2024 08:27:28 PM
- The Metals Company Provides Second Quarter 2024 Corporate Update • GlobeNewswire Inc. • 08/14/2024 08:05:00 PM
- The Metals Company Announces Second Quarter 2024 Corporate Update Conference Call for Wednesday, August 14, 2024 • GlobeNewswire Inc. • 08/08/2024 12:05:00 PM
- TMC and SGS Produce World-First Cobalt Sulfate from Deep-Seafloor Polymetallic Nodules • GlobeNewswire Inc. • 06/12/2024 12:00:00 PM
- The Metals Company Welcomes Prominent Sustainability Strategist Brendan May to its Board of Directors • GlobeNewswire Inc. • 06/03/2024 12:00:00 PM
- TMC Commends U.S. House of Representatives for Allocating Defense Funding to Assess the Feasibility of Domestic Nodule Refining Capacity • GlobeNewswire Inc. • 05/23/2024 01:05:32 PM
- TMC Announces First Quarter 2024 Results • GlobeNewswire Inc. • 05/13/2024 08:05:33 PM
- TMC Subsidiary Submits Its Largest Deep-Sea Environmental Data Set Yet to International Seabed Authority • GlobeNewswire Inc. • 05/13/2024 02:12:26 PM
- The Metals Company Announces First Quarter 2024 Corporate Update Conference Call for Monday, May 13, 2024 • GlobeNewswire Inc. • 05/06/2024 08:30:35 PM
- TMC & SGS Produce World-First Nickel Sulfate from Deep-Seafloor Polymetallic Nodules • GlobeNewswire Inc. • 04/23/2024 12:00:41 PM
- Steve Jurvetson, a Renowned Silicon Valley Investor, Joins TMC’s Board of Directors as Vice Chairman and Special Advisor to the CEO • GlobeNewswire Inc. • 04/10/2024 12:30:00 PM
- TMC Announces Fourth Quarter and Full Year 2023 Results • GlobeNewswire Inc. • 03/25/2024 08:05:24 PM
- The Metals Company Fourth Quarter and Full Year 2023 Corporate Update Conference Call for Monday, March 25, 2024 • GlobeNewswire Inc. • 03/18/2024 08:05:24 PM
- TMC Applauds ~350 Former U.S. Political and Military Leaders Urging Senate to Ratify Law of the Sea for Deep-Sea Mine Sites "Each Containing a Trillion Dollars in Value" • GlobeNewswire Inc. • 03/14/2024 12:00:00 PM
- TMC Commends U.S. Congress on Bill to “Provide Financial, Diplomatic, or Other Forms of Support for Seafloor Nodule Collection, Processing and Refining” and Advancing International Regulations for Seafloor Resources • GlobeNewswire Inc. • 03/13/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 02:38:25 AM
- Pentagon to Deliver Report on Domestic Processing of Seafloor Nodules by March 1 as President Biden Signs NDAA • GlobeNewswire Inc. • 01/03/2024 01:30:29 PM
- TMC Subsidiary NORI Completes Key Offshore Research Campaign, Evaluating Seafloor Ecosystem Function a Year Post Nodule Collection Test • GlobeNewswire Inc. • 12/28/2023 01:00:37 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/22/2023 09:12:21 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 12/21/2023 09:58:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/21/2023 09:57:04 PM
- TMC Subsidiary NORI Shares Preliminary Findings on Environmental Impacts of Pilot Nodule Collection System Test • GlobeNewswire Inc. • 12/14/2023 01:00:39 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM