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 it has successfully
collected an initial batch of seafloor polymetallic nodules, and
transported them up a 4km-long riser system to the surface, in what
represents the first integrated system test conducted in the
Clarion Clipperton Zone of the Pacific Ocean since the 1970s.
Having successfully completed at-sea construction of the riser
system and its integration with the flexible jumper hose and pilot
nodule collector vehicle, the dedicated team of 130 crew and
engineers aboard the Hidden Gem commenced initial nodule collection
runs, driving the pilot collector 147 meters in one hour on a
pre-determined path and collecting 14 tonnes of nodules. From
inside the collector nodules were channeled to the jumper hose and
into the riser where they were lifted on compressed air in a
12-minute-trip from seafloor to the Hidden Gem, where the return
water was discharged to the midwater column at depth. To date on
the current campaign the collector vehicle has successfully been
test-driven approximately 18.1km within NORI-D.
Meanwhile, aboard a dedicated 103-meter-long monitoring
vessel, expert industry contractors and independent scientists
from leading research institutions from around the world are
conducting a complex monitoring program to assess the environmental
impacts of the collector system trials using an array of over 50
subsea sensors and monitoring stations. The assets are designed to
record any changes in the marine environment that may occur during
testing of the collector system. The state-of the-art technology
that TMC subsidiary NORI has applied to this monitoring effort
includes over 20 strategically positioned sediment collection
stations; acoustic moorings and landers to measure sound
propagation; two Autonomous Underwater Vehicles (AUVs) conducting
underwater mapping; two Remotely Operated Vehicles (ROVs)
collecting water samples in the plume; optical backscatter and
laser diffraction sensors to measure sediment particle settling
velocity; trace metal samplers; seven fixed landers equipped
with Acoustic Doppler Current Profilers (ADCPs) and
conductivity, temperature, and depth (CTD) sensors. NORI
expects the findings from the data being collected will be
published in scientific literature next year.
Gerard Barron, CEO & Chairman of The Metals Company said:
“With the first nodules making their way from seafloor to surface
using an integrated pilot collection system, we find ourselves at a
historic moment in the development of this industry. Once again,
our strategic partner Allseas have shown why they’re the best in
the business when it comes to pioneering offshore engineering and
operations. This is just the beginning, and we look forward to
sharing more news as the trials and impact monitoring continue this
quarter.”
Upon completion of the trials, which require the coordination of
250 people across three vessels, the research teams will undertake
post-collection surveys to compare the status of the environment
before and after the test. 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,
which the Company expects to submit in the second half of 2023.
In September 2022, NORI announced that it received the ISA’s
recommendation to commence its pilot nodule collection system
trials in the CCZ after its review of the Collector Test
Environmental Impact Statement (EIS) and Collector Test
Environmental Monitoring and Management Plan (EMMP). While several
ISA contractors including BGR and GSR have successfully conducted
trials of prototype nodule collectors in recent years, NORI’s tests
will mark the first time an integrated nodule collection system —
including nodule riser — has been tested in the Clarion Clipperton
Zone since the 1970s, when oil, gas, mining and industrial majors
including Shell, BP, Rio Tinto (Kennecott), US Steel, INCO (Vale)
and Sumitomo successfully conducted pilot test work, collecting
over 1,500 tons of nodules.
In May 2022, TMC and Allseas announced successful trials of the
nodule collector vehicle in deep-water in the Atlantic as well as
harbor wet-test commissioning and shallow-water drive tests in the
North Sea.
A video accompanying this announcement is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/453aa06e-2539-4e43-a8f9-36c837e78cd0
About The Metals CompanyThe 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
Forward Looking Statements
Certain statements made in this press release are not historical
facts but are forward-looking statements for purposes of the safe
harbor provisions under The Private Securities Litigation Reform
Act of 1995. Forward-looking statements generally are accompanied
by words such as “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “plan,”
“predict,” “potential,” “seem,” “seek,” “future,” “outlook” and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. The
forward-looking statements contained in this press release include,
without limitation, statements regarding the publication of data
from monitoring of the pilot collection system testing in the CCZ,
TMC’s pilot collection testing in the CCZ, and the timing and
content of an application to the ISA for an exploitation contract
as well as the design, use and accuracy of any technology developed
by TMC and its partners, agents and/or service providers to support
its operations. These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from those discussed in the
forward-looking statements. Most of these factors are outside TMC’s
control and are difficult to predict. Factors that may cause such
differences include, but are not limited to: the successful and
timely completion of the ongoing pilot testing of TMC’s collection
system in the CCZ; regulatory uncertainties and the impact of
government regulation and political instability on TMC’s resource
activities; changes to any of the laws, rules, regulations or
policies to which TMC is subject; the impact of extensive and
costly environmental requirements on TMC’s operations;
environmental liabilities; the impact of polymetallic nodule
collection on biodiversity in the CCZ and recovery rates of
impacted ecosystems; TMC’s ability to develop minerals in
sufficient grade or quantities to justify commercial operations;
the lack of development of seafloor polymetallic nodule deposit;
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 TMC may recover; risks
associated with collection, development and processing polymetallic
nodules; risks associated with TMC’s limited operating history; the
impact of the COVID-19 pandemic; risks associated with TMC’s
intellectual property and the validity, use and ownership of any
new technology or intellectual property subsisting therein; TMC’s
ability to raise additional funds; and other risks and
uncertainties indicated from time to time in the Company’s Form
10-K, dated and filed with the U.S. Securities and Exchange
Commission (SEC) on March 25, 2022 as well as the Company’s Form
10-Q filed with the SEC on August 15, 2022, including those under
“Risk Factors” therein, and in TMC’s other future filings with the
SEC. TMC cautions that the foregoing list of factors is not
exclusive. TMC cautions readers not to place undue reliance upon
any forward-looking statements, which speak only as of the date
made. TMC does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions, or circumstances
on which any such statement is based except as required by law.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/23557e1b-e22c-43a3-8f9e-0db3d71bdcd6
https://www.globenewswire.com/NewsRoom/AttachmentNg/8c4fc19a-7c78-42e7-b3b7-2be0be1579f5
https://www.globenewswire.com/NewsRoom/AttachmentNg/3045ee04-ac14-41ee-8076-e559688a6d71
https://www.globenewswire.com/NewsRoom/AttachmentNg/16ab0260-77be-457c-9e45-8cdf4924458c
https://www.globenewswire.com/NewsRoom/AttachmentNg/db487784-f0a0-46c7-bc54-4bb2aa333dfa
A video accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/453aa06e-2539-4e43-a8f9-36c837e78cd0
TMC the Metals (NASDAQ:TMC)
Historical Stock Chart
From Apr 2024 to May 2024
TMC the Metals (NASDAQ:TMC)
Historical Stock Chart
From May 2023 to May 2024