International Seabed Authority

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

Retrieved on: 
Monday, March 4, 2024

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

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

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

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

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

"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

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

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.

TMC Announces Corporate Update on Expected Timeline, Application Costs and Production Capacity Following Part II of the 28th Session of the International Seabed Authority

Retrieved on: 
Tuesday, August 1, 2023

Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025.

Key Points: 
  • Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025.
  • The Company estimates that it will require $60 to 70 million of additional cash to submit an application for an exploitation contract following the July 2024 meeting of the ISA.
  • TMC had $20M cash on hand and an undrawn $25M unsecured credit facility as of June 30th 2023.
  • Assuming a one-year review process for an application, NORI expects to be in production in the fourth quarter of 2025.

Congressional Leaders Urge President Biden and the Department of Defense to Consider Polymetallic Nodules for U.S. Critical Mineral Supplies and National Security

Retrieved on: 
Monday, July 31, 2023

In a letter to President Biden and the Pentagon, nine members of Congress urged the Administration to “keep all options on the table, including deep-sea opportunities, in assessing polymetallic nodules as a viable resource to secure critical minerals and close national security vulnerabilities.”

Key Points: 
  • In a letter to President Biden and the Pentagon, nine members of Congress urged the Administration to “keep all options on the table, including deep-sea opportunities, in assessing polymetallic nodules as a viable resource to secure critical minerals and close national security vulnerabilities.”
    The news comes as American and allied auto and battery makers struggle to secure supplies of critical battery metals that comply with guidelines for incentives under the Inflation Reduction Act.
  • Additionally, China dominates much of the international critical mineral supply chain on land and is now ramping up focus on seafloor resources known to be the largest estimated source of metals like cobalt, nickel and manganese, presenting a national security vulnerability for the United States…Recently, China has taken aggressive and brazen steps to secure and process seabed resources of polymetallic nodules into strategic planning for national security.
  • Currently, Chinese companies hold 5 out of 31 International Seabed Authority (ISA) contracts for exploration and development – more than any other country.”
    In March, China’s state-owned newspaper China Daily recognized TMC’s leadership position in the industry and announced its intention to invest further into the development of technologies to responsibly and economically recover seafloor polymetallic nodules.
  • In reply, Secretary Granholm confirmed, “Ongoing R&D on critical battery minerals processing through the DOE Office of Science and the Advanced Manufacturing Office is applicable to potential U.S. domestic processing and refining of metallic marine nodules...DOE is continuing to work with interagency partners to consider all potential sources of critical minerals for the supply chain including the role that seabed nodules could play in the future.”