International Seabed Authority

TMC Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Monday, March 25, 2024
Letter, The Metals Company, Exercise, UNCLOS, Environmental issues, Domestic, International Seabed Authority, Breakthrough, The Hidden Gem, Council, Memorandum of understanding, Representative, Legislation, ISA, Mining Code, Seabed, Manganese, Hand, Senate, State, CCZ, Hidden, National security, Research, LTIP, House, Louisiana House of Representatives, Pentagon, Engineering, Government, TMC, National Defense Authorization Act, EDT, Nickel, Sea, Bangladesh Technical Education Board, Ecosystem, Data, Collection, Total

NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and fourth quarter and full year financial results for the period ending December 31, 2023.

Key Points: 
  • NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and fourth quarter and full year financial results for the period ending December 31, 2023.
  • Meanwhile, two new applications for deep-sea mineral exploration have recently been submitted to the ISA by the government of India.
  • Exploration and evaluation expenses during the quarter ended December 31, 2023 were $26.7 million compared to $81.8 million for the quarter ended December 31, 2022.
  • We will hold a conference call today at 4:30 p.m. EDT to provide an update on recent corporate developments, fourth quarter and full year 2023 financial results and upcoming milestones.

Next Gen Batteries and Dubious Economics Are Reshaping the Deep Sea Mining Debate

Retrieved on: 
Wednesday, March 27, 2024
ISA, EV, Climate change, Environment, Biophysical environment, Recycling, DSM, Gold, Policy, University, International Seabed Authority, Renewable energy, Economics, Mining

A special event on March 25, hosted by the Blue Climate Initiative, attended by 25 different country delegations, brought key voices to Kingston to address how the next generation of electric vehicle (EV) batteries and the dubious economics of deep-sea mining (DSM) are reshaping the debate over this controversial industry.

Key Points: 
  • A special event on March 25, hosted by the Blue Climate Initiative, attended by 25 different country delegations, brought key voices to Kingston to address how the next generation of electric vehicle (EV) batteries and the dubious economics of deep-sea mining (DSM) are reshaping the debate over this controversial industry.
  • He said these new batteries have undercut the argument that we need to rush to mine the sea:
    "Deep seabed mining is fool's gold and profiteering by the few.
  • He noted:
    Bobbi-Jo Dobush of The Ocean Foundation, said that the business case for deep-sea mining simply does not add up.
  • He said:
    "Deep-sea mining will neither contribute to solving climate change nor will it stop the extinction of species.

Deep Sea Mining Industry Leader Peter Jantzen Joins Impossible Metals as Chief Revenue Officer

Retrieved on: 
Monday, March 4, 2024
Technology, Professional Services, Mining, Minerals, Environmental, Social and Governance (ESG), Natural Resources, Artificial Intelligence, Alternative Energy, Environment, Energy, Hardware, Sustainability, Impossible, International Seabed Authority, Annual report, Metal

Peter founded the deep sea mining company Blue Minerals, which received sponsorship from Jamaica and successfully applied for and received an exploration permit from the International Seabed Authority in 2021.

Key Points: 
  • Peter founded the deep sea mining company Blue Minerals, which received sponsorship from Jamaica and successfully applied for and received an exploration permit from the International Seabed Authority in 2021.
  • “With 14 years in deep-sea mining and success at Blue Minerals, Peter brings valuable expertise to Impossible Metals,” said Oliver Gunasekara, CEO and Co-Founder of Impossible Metals.
  • “I was instantly attracted to Impossible Metals’ advanced technology, which leverages AI to selectively harvest polymetallic nodules, preserving the marine habitat,” said Peter Jantzen.
  • “Peter was instrumental in developing the relationship between Jamaica and Blue Minerals Jamaica Ltd. in the pursuit of Jamaica’s deep seabed mining opportunity.

The Metals Company Provides Third Quarter 2023 Corporate Update

Retrieved on: 
Thursday, November 9, 2023
Environmental issues, AMS, Attention, Digital twin, International Seabed Authority, Engineering, Kongsberg Digital, Collection, Exercise, Texas Gulf Coast, Allseas, PFS, House, Letter, Council, TMC, Project Zero, EIS, ISA, AI, VWAP, ESG, Rare-earth element, Cryptocurrency, Security (finance), Renewable energy

NEW YORK, Nov. 09, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the third quarter ending September 30, 2023.

Key Points: 
  • NEW YORK, Nov. 09, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the third quarter ending September 30, 2023.
  • The offshore EIS process is generating very encouraging insights based on last year's nodule collection test which are informing our designs and plans.
  • TMC reported net loss of approximately $12.5 million, or $0.04 per share for the quarter ended September 30, 2023, compared to net loss of $27.9 million, or $0.12 per share, for the quarter ended September 30, 2022.
  • ET to provide an update on recent corporate developments, third quarter 2023 financial results and upcoming milestones.

The Symposium on Global Maritime Cooperation and Ocean Governance 2023 Concluded in Sanya

Retrieved on: 
Friday, November 10, 2023
Belt, United, United Nations Ocean Conference, Convention, Natural Resources, UN, National Committee, Authority, International Seabed Authority, Diplomatic rank, Mining, Foreign Affairs, Conference, State Oceanic Administration, Symposium, Partnership, Communication, Politburo, United Nations, Shipbuilding, Pacific Ocean

SANYA, China, Nov. 10, 2023 /PRNewswire/ -- On November 8, 2023, The Symposium on Global Maritime Cooperation and Ocean Governance 2023 opened in Sanya, Hainan Province.

Key Points: 
  • SANYA, China, Nov. 10, 2023 /PRNewswire/ -- On November 8, 2023, The Symposium on Global Maritime Cooperation and Ocean Governance 2023 opened in Sanya, Hainan Province.
  • The symposium is co-hosted by Huayang Center for Maritime Cooperation and Ocean Governance, China Oceanic Development Foundation and National Institute for South China Sea Studies.
  • Secretary-General of the second United Nations Ocean Conference, and Stephen A. Orlins, President of the National Committee on U.S.-China Relations, deliver special remarks.
  • Saia Moehau said The Pacific China Friendship Association supports the implementation of the "the Belt and Road" initiative to promote global ocean governance cooperation, and suggests that the Symposium on Global Maritime Cooperation and Ocean Governance establish a partnership with the Pacific China Friendship Association to promote the blue economy through the Pacific Ocean space planning.

The Symposium on Global Maritime Cooperation and Ocean Governance 2023 Concluded in Sanya

Retrieved on: 
Friday, November 10, 2023
Belt, United, United Nations Ocean Conference, Convention, Natural Resources, UN, National Committee, Authority, International Seabed Authority, Diplomatic rank, Mining, Foreign Affairs, Conference, State Oceanic Administration, Symposium, Partnership, Communication, Politburo, United Nations, Shipbuilding, Pacific Ocean

SANYA, China, Nov. 9, 2023 /PRNewswire/ -- On November 8, 2023, The Symposium on Global Maritime Cooperation and Ocean Governance 2023 opened in Sanya, Hainan Province.

Key Points: 
  • SANYA, China, Nov. 9, 2023 /PRNewswire/ -- On November 8, 2023, The Symposium on Global Maritime Cooperation and Ocean Governance 2023 opened in Sanya, Hainan Province.
  • The symposium is co-hosted by Huayang Center for Maritime Cooperation and Ocean Governance, China Oceanic Development Foundation and National Institute for South China Sea Studies.
  • Secretary-General of the second United Nations Ocean Conference, and Stephen A. Orlins, President of the National Committee on U.S.-China Relations, deliver special remarks.
  • Saia Moehau said The Pacific China Friendship Association supports the implementation of the "the Belt and Road" initiative to promote global ocean governance cooperation, and suggests that the Symposium on Global Maritime Cooperation and Ocean Governance establish a partnership with the Pacific China Friendship Association to promote the blue economy through the Pacific Ocean space planning.

Researchers to Return to the Site of NORI’s Nodule Collection System Test to Assess Seafloor Ecosystem Function A Year After the Test

Retrieved on: 
Wednesday, November 8, 2023
Science, Social impact assessment, ISA, Clipperton Fracture Zone, Environmental resource management, Biota, International Seabed Authority, Research, Engineering, ESIA, Allseas, TMC, The Metals Company, Global Monitoring Plan, Specialization, Dredging, Rare-earth element

The upcoming offshore campaign is the latest in The Metals Company subsidiary NORI’s Environmental and Social Impact Assessment (ESIA) to characterise the potential impacts of proposed polymetallic nodule collection operations.

Key Points: 
  • The upcoming offshore campaign is the latest in The Metals Company subsidiary NORI’s Environmental and Social Impact Assessment (ESIA) to characterise the potential impacts of proposed polymetallic nodule collection operations.
  • Scientists from several leading marine research institutions will undertake an array of studies on the site of last year’s nodule collection system test to gather further environmental data on ecosystem recovery and functioning.
  • The Company expects to commence the campaign in Q4 2023.
  • Specialized research teams will use an array of boxcore and multi-core samplers as well as various benthic lander systems to assess impacts to biota and ecosystem function on the seafloor in NORI-D.

Next Generation EV Batteries Eliminate the Need for Deep Sea Mining

Retrieved on: 
Monday, October 30, 2023
BYD, EV, Ford, Mining, Sustainability, Life, Metal, Pressure, Copper, Rowland, International Seabed Authority, Tesla, Nickel, BCI, Multimedia, Cobalt, Manganese, Environment, LFP, Campus of the University of California, Berkeley, James, Mineral, University, Volkswagen, SAN, Climate change, Rare-earth element, Rivian

"The rapid market adoption of these next generation batteries that don't use deep sea metals is transformational," said Jeanne Everett, Director of Operations of the Blue Climate Initiative.

Key Points: 
  • "The rapid market adoption of these next generation batteries that don't use deep sea metals is transformational," said Jeanne Everett, Director of Operations of the Blue Climate Initiative.
  • "These next generation batteries have swept the market and already represent a third of the global EV battery market.
  • As a result, deep sea mining of these metals is neither necessary, economically advantageous, or environmentally advisable."
  • Rowland added "Efforts to promote the mining of these metals in the deep ocean now serve neither manufacturers nor consumers, but only enterprises that have been established for the express purpose of deep sea mining."

The Metals Company Announces Investor Conference Schedule Through End of 2023

Retrieved on: 
Friday, September 8, 2023
International Seabed Authority, Mining Code, The Metals Company, Organization, TMC, ISA, Lotte New York Palace Hotel, Rare-earth element, Cryptocurrency

NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, intends to participate at the following in-person conferences being held by leading organizations and financial institutions during the third and fourth quarters of 2023.

Key Points: 
  • NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, intends to participate at the following in-person conferences being held by leading organizations and financial institutions during the third and fourth quarters of 2023.
  • On August 14, TMC announced a Registered Direct Offering at a price of $2.00, a premium of 82% to the TMC closing share price on August 11
    On August 1, TMC provided a corporate update on expected development timeline, production capacity and application costs for its NORI-D Nodule Project following the recent International Seabed Authority (ISA) Council decisions on a roadmap to deliver final rules, regulations and procedures, also known as the Mining Code
    In July, the International Seabed Authority defined a roadmap to adopting final regulations for exploitation and TMC subsidiary Nauru Ocean Resources Inc. (NORI) intends to submit an application to the ISA for an exploitation contract for NORI Area D following the July 2024 meeting of the ISA.
  • Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025
    Location: Lotte New York Palace Hotel, New York, NY

The Metals Company Provides Second Quarter 2023 Corporate Update and Commentary on ~$27 Million Capital Raise at $2.00 Per Share with Potential Upsizing to $38 Million

Retrieved on: 
Monday, August 14, 2023
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Chairman and CEO Gerard Barron and CFO Craig Shesky along with several TMC board members also participated in the transaction.

Key Points: 
  • Chairman and CEO Gerard Barron and CFO Craig Shesky along with several TMC board members also participated in the transaction.
  • Exploration evaluation expenses during the quarter ended June 30, 2023 were $8.1 million compared to $10.2 million for the quarter ended June 30, 2022.
  • General and administrative expenses were $5.1 million for the quarter ended June 30, 2023 compared to $8.1 million for the quarter ended June 30, 2022.
  • ET to provide an update on recent corporate developments, first quarter financial results and upcoming milestones.