Clipperton Fracture Zone

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of TMC the metals company Inc. - TMC

Retrieved on: 
Monday, April 8, 2024
Carbon, Pacific Ocean, TMC, Partnership, Sale, LLP, News, Bank statement, LCR, Pomerantz, Clipperton Fracture Zone

NEW YORK, April 08, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of TMC the metals company Inc. (“TMC” or the “Company”) (NASDAQ: TMC).

Key Points: 
  • NEW YORK, April 08, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of TMC the metals company Inc. (“TMC” or the “Company”) (NASDAQ: TMC).
  • The investigation concerns whether TMC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • In February 2023, TMC and its wholly-owned subsidiary, Nauru Ocean Resources Inc. (“NORI”), entered into a strategic partnership with Low Carbon Royalties Inc. (“LCR”).
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of TMC the metals company Inc. - TMC

Retrieved on: 
Sunday, March 31, 2024
Carbon, Prior, Pacific Ocean, TMC, Partnership, Sale, LLP, News, Bank statement, LCR, Pomerantz, Clipperton Fracture Zone

NEW YORK, March 31, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of TMC the metals company Inc. (“TMC” or the “Company”) (NASDAQ: TMC).

Key Points: 
  • NEW YORK, March 31, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of TMC the metals company Inc. (“TMC” or the “Company”) (NASDAQ: TMC).
  • The investigation concerns whether TMC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • In February 2023, TMC and its wholly-owned subsidiary, Nauru Ocean Resources Inc. (“NORI”), entered into a strategic partnership with Low Carbon Royalties Inc. (“LCR”).
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

TMC Subsidiary NORI Completes Key Offshore Research Campaign, Evaluating Seafloor Ecosystem Function a Year Post Nodule Collection Test

Retrieved on: 
Thursday, December 28, 2023
Biophysical environment, ROV, Collection, Research, Acquisition, Social impact assessment, Greenpeace, Biota, ESIA, Clipperton Fracture Zone, TMC, The Metals Company, CCZ, Rare-earth element

NEW YORK, Dec. 28, 2023 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced the conclusion of its latest offshore scientific research campaign to assess seafloor impacts and recovery rates twelve months after the pilot nodule collection system test conducted by its NORI subsidiary.

Key Points: 
  • NEW YORK, Dec. 28, 2023 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced the conclusion of its latest offshore scientific research campaign to assess seafloor impacts and recovery rates twelve months after the pilot nodule collection system test conducted by its NORI subsidiary.
  • The team selected 19 sampling stations in the locality of last year’s nodule collection system test and conducted 39 multicore deployments, recovering 395 individual core samples.
  • Additionally, using a remotely operated vehicle (ROV), the research team deployed innovative seafloor lander systems that are capable of measuring seafloor oxygen fluxes using eddy covariance methods.
  • This new information provides an insight as to the scale of seabed disturbance from nodule collection and how the benthic communities respond over time.

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.

The Metals Company Releases Second Annual Impact Report

Retrieved on: 
Tuesday, October 31, 2023
Benchmark, Benchmark Mineral Intelligence, EIS, Disclosure, Progress, Cobalt, CCZ, GRI, AI, Handbook, STEM, Communication, Social impact assessment, KPI-driven code analysis, SINTEF, Thought, Metal, Carbon, University, CO2, Task Force on Climate Related Financial Disclosures, TMC, The Metals Company, Map, Digital twin, Data collection, ESG, Clipperton Fracture Zone, Copper, Nickel, Research, Manganese, Blue economy, The Blue Economy, Task force, Outline, Sustainability accounting, CSIRO, Sustainable Development Goals, Climate, SIA, USP, Kongsberg Digital, Alloy, EIA, Renewable energy, Mining

With our second Impact Report, we detail how we can responsibly tap the planet's largest source of key battery materials to supply the energy transition while minimizing its environmental, climate and social impacts.

Key Points: 
  • With our second Impact Report, we detail how we can responsibly tap the planet's largest source of key battery materials to supply the energy transition while minimizing its environmental, climate and social impacts.
  • Benchmark’s LCA shows the NORI-D Project model performed better in almost every impact category analyzed than all the land-based routes analyzed.
  • TMC’s 2022 Impact Report was prepared using the Global Reporting Initiative (GRI) Standards as guidance.
  • To access TMC’s 2022 Impact Report, click here .

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
Agreement, The Hidden Gem, LTC, Project Zero, Clipperton Fracture Zone, AMS, United Nations Convention on the Law of the Sea, United Nations Convention, Paragraph, EIS, Environmental resource management, Section 1, Water, Sanitation and Hygiene Monitoring Program, Part, International Seabed Authority, Mining Code, Radio Technical Commission for Maritime Services, Implementation, Environmental monitoring, ATM, Regeneration, TMC, Party, Data, Council, Motivation, Hand, Rare-earth element, Property management, Natural gas, Life insurance, Bank, Risk management, Security (finance), UNCLOS, Allseas

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.

Biodiversity Data from NORI-D Exploration Area Now Available on UNESCO’s Ocean Biodiversity Information System, Increases Biodiversity Records for the Clarion-Clipperton Zone by About 150%

Retrieved on: 
Monday, July 3, 2023
OBIS, Taste, International Seabed Authority, Metal, Clipperton Fracture Zone, Record, Research, The Metals Company, Biodiversity, CCZ, TMC, Data, Environmental manager, UN, ISA, Biophysical environment, Social impact assessment, Environment, Seaweed, Music, ESIA

The ISA-node provides access to a wealth of information on the deep-sea and biological resources in the global commons for all society to use.

Key Points: 
  • The ISA-node provides access to a wealth of information on the deep-sea and biological resources in the global commons for all society to use.
  • In a week since the publication on OBIS, the NORI-D biodiversity records have been downloaded 67 times, and the total number of occurrence records downloaded exceeds 4.4 million.
  • OBIS holds the world’s largest scientific knowledge base on the diversity, distribution and abundance of all marine organisms.
  • NORI expects numerous further papers to be published in peer-reviewed journals in the coming months and years, adding significantly to society’s understanding of the deep sea.

The Metals Company Provides Q1 2023 Corporate Update

Retrieved on: 
Thursday, May 11, 2023
Benchmark, Argentum, Carbon, International Seabed Authority, Investment, Clipperton Fracture Zone, Science, Mining Code, UNCLOS, Area, Allseas, European, ESG, PMTS, Consultant, Social Security Government Pension Offset, Pacific Ocean, María Conchita Alonso, Data, Nickel, NG, Social, Cobalt, Disclosure, CCZ, LCR, Engineering, Biophysical environment, Condition subsequent, Bechtel, Hand, Mineral Resources Limited, Partnership, Metal, LCA, Benchmark Mineral Intelligence, SOFR, Sale, TMC, Strategic partnership, Memorandum of understanding, Copper, Rare-earth element, Cryptocurrency

NEW YORK, May 11, 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 first quarter ending March 31, 2023.

Key Points: 
  • NEW YORK, May 11, 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 first quarter ending March 31, 2023.
  • Marine minerals are emerging as a strong potential source to help meet growing metals demand.
  • General and administrative expenses were $6.2 million for the quarter ended March 31, 2023 compared to $8.5 million for the quarter ended March 31, 2022.
  • ET to provide an update on recent corporate developments, first quarter financial results and upcoming milestones.

The Metals Company Engages Bechtel to Support NORI’s Commercial Contract Application for NORI–D Nodule Project

Retrieved on: 
Thursday, March 9, 2023
Well, Mining, Science, Metal, Clipperton Fracture Zone, Lifting, Project, Collection, Pacific Ocean, Consultant, The Hidden Gem, Telecommunications, South Korea, Project Zero, The Metals Company, Copper, ISA, Free trade agreement, TMC, Engineering, SINTEF, Nickel, Hatch, CO2, International Seabed Authority, Korea, Rare-earth element, Allseas

Gerard Barron, Chairman and CEO of The Metals Company, said: “We are excited to have a company with the proven capabilities of Bechtel involved in our NORI-D project.

Key Points: 
  • Gerard Barron, Chairman and CEO of The Metals Company, said: “We are excited to have a company with the proven capabilities of Bechtel involved in our NORI-D project.
  • We need to act with urgency but follow the science to ensure our environmental, social and governance responsibilities are integrated into the project.
  • Last year NORI and Allseas announced they had signed a non-binding term sheet to upgrade the pilot collection system into a production-ready commercial system.
  • With their limited impurities, polymetallic nodules could significantly reduce mineral processing waste outputs and TMC has worked with metallurgy process experts Hatch to pioneer a near-zero solid waste nodule processing flowsheet to produce nickel, copper and cobalt feedstocks for battery manufacturers.

Low Carbon Royalties Announces Launch of Funding Vehicle for Low-Carbon Emitting Fuels and Transition Metals Including Initial Royalty Transactions

Retrieved on: 
Tuesday, February 21, 2023
Carbon, Lithium, Cobalt, Agreement, Copper, Arm, Nickel, The Metals Company, Mining, Growth, Manganese, Partnership, Mineral, Pacific Ocean, TMC, Partner (business rank), Clipperton Fracture Zone, LCR, Cryptocurrency, Renewable energy, Music

Low Carbon Royalties provides critical funding to low-carbon emitting energy production and technologies, transition metals and minerals required for energy storage and electrification, and the evolving environmental markets.

Key Points: 
  • Low Carbon Royalties provides critical funding to low-carbon emitting energy production and technologies, transition metals and minerals required for energy storage and electrification, and the evolving environmental markets.
  • If both repurchase transactions are executed, LCR's remaining gross overriding royalty on the NORI project revenue will be 0.5%.
  • Gerard Barron, Chairman and CEO of The Metals Company, said: "NORI and Low Carbon Royalties are a great fit.
  • However, relative to other parts of the value chain, global investment in mining of energy transition metals is lagging.