Fifty years ago, one of the first deep-sea mining prototypes used a churning Archimedes-screw drivetrain that ploughed through the seafloor — leaving furrows as deep as 80 centimeters. 

Fast forward to today. TMC’s offshore nodule collection system was meticulously engineered together with Allseas using learnings from decades of offshore innovation not just to collect nodules, but to minimize impacts to the surrounding ecosystem. Our approach represents a new era of deep-sea design where environmental science directly informs engineering decisions.

By basing engineering decisions upon rigorous environmental research, the result is a nodule collection system designed from the seafloor up to minimize impact while maximizing efficiency. Here’s how that principle shows up in the details.

Collect nodules, not mud: the coanda effect

The Coanda nozzle — first conceived in the 1970s and perfected through modern modeling — leads our system’s interaction with the seafloor, combining efficiency with ecological sensitivity. 

The Coanda design uses curved flow dynamics to create lift, coaxing nodules into the collector without digging or dredging. The result: a dramatic reduction in sediment intake and seafloor impact. 

For Allseas engineers, it was a question of optimization: perfectly spacing and individually articulating the nozzles to ensure that they hover above the seafloor at a distance that maximizes pickup while minimizing the amount of sediment that enters into the collector. For our environment team, it meant a leap forward in controlling the footprint of the operation.

Smarter separation at the source

As that 1970s prototype burrowed its way across the seafloor, it used a rotating collector head that raked the seafloor to gather nodules, and an internal crusher to break them. Though effective at lifting them, the collector’s fixed head and need for deep sinkage for traction entrained large amounts of sticky sediment, repeatedly clogging the crusher, as the nodule-sediment slurry passed through its internal hopper on the way to the surface. 

Today, the hopper inside Allseas’ collector acts as a quiet environmental safeguard. Using differential flow rates and countercurrent washing, it separates most sediment from the nodules and leaves it at the seafloor.

This simple yet elegant gravity-based system ensures that 95–98% of sediment entrained during nodule collection is released out the back of the vehicle to settle at the seafloor, dramatically reducing the amount traveling up the riser to the surface vessel.

Optimized using test mining learnings and data, our next-generation ‘Hopper 2.0’ increases both capacity and separation time, improving sediment settling efficiency and integrating the hopper structure into the collector’s frame to make it stronger and lighter, reducing its footprint.

Calming the current

The water and sediment that comes into the hopper needs to exit the machine. How it exits makes a huge difference.

Allseas designed a diffuser system at the back of the vehicle to slow and direct separated sediment toward the seafloor, enhancing the formation of a gravity-driven sediment flow which, instead of lofting upwards, hugs the seafloor and settles within meters of the collection area.

By tuning the diffuser’s flow rate and outlet geometry, engineers keep this benthic plume localized and predictable — minimizing spread and keeping sediment where it belongs.

Make it float

One of the most visible design features of TMC’s pilot collector is also one of its most important: the bright yellow buoyancy material that reduces the robot’s weight under water.

Allseas incorporated buoyancy modules to make the machine move more lightly across the seafloor, reducing its effective weight from 90 tons in air to only 15 tons underwater. With this weight spread evenly over the surface area of its wide tracks, the vehicle traverses the seabed with minimal pressure without getting bogged down— leaving behind faint ripples just a few centimeters.

From an ecological standpoint, that’s transformative. Microbes — which comprise the vast majority of biomass on the abyssal seafloor — live in the top layers of seabed sediment. By leaving behind faint ripples instead of deep furrows, we give the benthic ecosystem the ability to recover.

Midwater release: less up, less down

While Allseas engineers designed the system to leave most sediment at the seafloor, a small amount of mud and nodule fines do come up the riser with seawater. This return water must be discharged back into the water column. 

For the commercial system, engineers included ‘hydrocyclones’ into the design of the dewatering process to ensure that abraded nodule fragments are recovered and only sediment and water are released. Hydrocyclones act like centrifuges, spinning out heavier particles for cleaner discharge water, further minimizing the mid-water plume.

That water is returned not at the surface — as was contemplated in the 1970s — but at a scientifically-chosen depth of 2,000 meters — well below the productive upper ocean layers where most marine life and fisheries feed and breed. This depth, determined with top pelagic experts including from the University of Hawaii, bypasses 95% of oceanic life. The vessel’s movement transfers down the return pipe causing the outlet to stir the return flow, rapid dilution to background within a few hundred meters and constraining measurable impacts to a very small volume of water right next to the outlet.

Go with the flow: mine planning to reduce impact

During our 2022 pilot trials we observed that, at 4,000 meters depth, ocean currents tend to behave differently. Instead of steady, one-way flows, we saw the deep ocean “sloshing” gently back and forth with the tides.

This finding may allow us to design adaptive mine plans that work with natural currents — directing any residual sediment back into already mined areas.

Moreover, field data from our trials showed the collector can turn and maneuver with ease, enabling an Adaptive Path Mining (APM) approach. Unlike the long straight tracks of earlier designs, APM lets the collector operate within more compact zones while the surface vessel holds position — which could also cut fuel use by up to 30%. That means less carbon, less noise, and less ocean disturbance.

By refining the technology to further confine plumes and optimize the separation of nodules and mud, our next-generation system will gather more nodules, with less impact. 

This is not the 1970s version of deep-sea mining.

It’s a smarter, lighter impact, and more responsible approach — one where engineering precision meets environmental purpose. As Rutger Bosland, our Chief Innovation and Offshore Technology Officer, puts it, “We’ve entered an era of impact-driven design.”

The post Innovation at Depth: How we learned from 1970s prototypes to design efficient nodule collection systems with a lighter touch appeared first on The Metals Company.

After over a decade of research, 22 offshore campaigns, and extensively monitored pilot mining trials, we’ve compiled one of the largest ever deep-sea environmental datasets as part of our Environmental and Social Impact Assessment. This dataset, covering findings from our NORI-D exploration area up to January 2022, includes an unprecedented 32,617 benthic and 42,036 pelagic biological occurrences, world-first MOCNESS net samples of micronekton at 4,000-meter depths, over 12,000 seafloor images, and several years of continuous oceanographic monitoring data from moorings.

Here’s how we’re using our data to tackle the six most common concerns raised about deep-sea mining — and why the facts may surprise you.

1. Seafloor Plumes: how far do they really travel?

The concern: Sediment clouds generated by the collector vehicle could smother ecosystems over thousands of kilometers.

What we found: Our test mining data — which align with those of MIT — show that over 95% of the sediment stirred up by the collector resettles within just 1-2 km, because at these depths sediment particles stick together, settling rapidly. 

We deployed over 50 monitoring assets in the water column and on the seafloor to measure how far the plume spread during test mining, including Remotely Operated Vehicles (ROVs), Autonomous Underwater Vehicles (AUVs), and seafloor landers. These assets were used to measure and document how much sediment was mobilized by the collector vehicle, and where it settled. This intensive 6-month-long study was conducted in partnership with 18 leading marine research institutions and contractors from around the world.

The myth: Dense plumes drifting endlessly across the ocean.

The fact: Real-world data shows localized impact within, and immediately adjacent to, the directly mined area. Watch the video below to learn more.

Resources:

Watch our pilot plume monitoring in action 

Carlos Muñoz-Royo et al., An in situ study of abyssal turbidity-current sediment plumes generated by a deep seabed polymetallic nodule mining preprototype collector vehicle. Sci. Adv. Vol. 8, 38 (2022).

Peacock, T. The GSR Patania II Expedition: Technical Achievements & Scientific Learnings. Global Seabed Mineral Resources (2023).

The Metals Company. TMC Subsidiary NORI Shares Preliminary Findings on Environmental Impacts of Pilot Nodule Collection System Test (2023).

Polymetallic Nodule Research Alliance. Will deep-sea mineral extraction create sediment plumes? (2025).

Test mining data shows the plume stays low and settles fast, with areas most impacted by sediment limited to just a few hundred meters.

2. Midwater Plumes: will they impact fisheries?

The concern: The return water, which contains a small amount of sediment and nodule particles, is piped back into the ocean and could contaminate the food chain, harming tuna and other commercial species.

What we found: Based on our research and in consultation with scientists, we have chose to purposefully return the water at 2,000 meters, much deeper than where tuna and mammals typically live or dive for feeding. During our trials, we found that when we returned this seawater-sediment mixture back into the water column, it created a shallow pancake where sediment concentrations were above the natural range of variation. At 150 meters deep, this pancake showed little vertical movement and, as it spread out horizontally, sediment concentrations diluted to background levels within tens of kilometers and within 2-4 days. Dilution occurs so quickly because of the relatively small amount of sediment the return water contains compared to the vast volume of seawater it is released into, and mixing is accelerated by the continuous horizontal and vertical movement of the riser pipe as our vessel moves forward.

Our test mining models also show that dissolved metals in the plume dilute to ocean background levels within several kilometers, with concentrations that could potentially cause an impact to passing pelagic organisms isolated to a very small volume of water immediately surrounding the outlet of our constantly-moving riser pipe. Importantly, scientific studies from the CCZ confirm that the ocean already contains abundant natural organic molecules that bind up trace metals in forms that marine life cannot absorb, such that any remaining free-ion concentrations are well below harmful levels. Once the plume is diluted, the dissolved metals present no realistic risk to ocean ecosystems.

While test mining campaigns in the 1970s could only rely upon rudimentary methods to monitor the midwater plume, major advancements in subsea robotics and sensors made it possible for the independent academics and engineers we partnered with to image the mid-water plumes and measure its contents.

The myth: Midwater plumes could impact vast volumes of water and poison fisheries.

The fact: The sheer scale of the ocean means sediment concentrations in commercial-scale midwater plumes dilute rapidly within a few kilometers, while trace metal concentrations dilute quickly to background levels and are bound in forms that can’t be absorbed by marine life. It’s also important to acknowledge our partner Allseas, whose engineering has ensured that nearly all sediment remains on the seafloor — thanks to a highly efficient nodule pickup and transport system that brings only a small amount of sediment up the riser. 

Resources:

Polymetallic Nodule Research Alliance. Will deep-sea mineral extraction disrupt fishing? (2025).

International Seabed Authority. Technical Study 33: Potential interactions between fishing and mineral resource-related activities in areas beyond national jurisdiction – a spatial analysis (2023).

New Zealand National Institute of Water and Atmospheric Research (NIWA). Assessment of the potential impacts of deep seabed mining on fisheries (2016).

Test mining data has been used to validate a commercial-scale model showing midwater plumes dilute rapidly and are all but undetectable after a few kilometers.

3. Noise & Light: are we disturbing marine life?

The concern: Noise and artificial light from mining may disrupt marine ecosystems.

What we found: The primary noise source is the surface vessel, and acoustic monitoring of our pilot production system during test mining revealed that sound levels which could cause behavioral change in mammals are constrained to a radius equivalent to other regulated marine industries. Similarly, light is limited — seafloor lighting is constrained to a cone radiating just tens of meters outwards from the collector, and surface light from the ship penetrates just a couple of hundred meters into the surface water layers.

The myth: Noise and light pollution will harm creatures and their ability to communicate. 

The fact: We measured our operational noise footprint and found that noise levels above NOAA-designated thresholds deemed to have an impact on mammal behavior are constrained to within several kilometers of our production vessel. This noise is primarily generated by the vessel’s dynamic positioning thrusters and is comparable to noise from other marine industries. Light will be tightly constrained, both at the seafloor and at the surface.

Resources:

Polymetallic Nodule Research Alliance. Will deep-sea mineral extraction affect ocean noise? (2025).

Polymetallic Nodule Research Alliance. Will deep-sea mineral extraction affect cetaceans in the ocean? (2025).

4. Carbon Sequestration: are we impacting the oceanic carbon sink?

The concern: Stirring up seafloor sediments during mining could release stored carbon into the atmosphere.

What we found: To start, seafloor sediments store less than 5% of all oceanic carbon, a minuscule fraction of which is found on abyssal plains. Importantly, the tiny amount of carbon that they do contain cannot be converted by microbes into carbon dioxide because it is not available for their consumption. Resuspended particles settle quickly as we have demonstrated through our in-field testing, and there’s no known pathway for sediment-stored carbon to reach the surface 4 kilometers above within any meaningful timescale.

MIT Professor Thomas Peacock, when speaking about deep-sea mining’s potential impact on the oceanic carbon sink during his testimony to Congress in April 2025, said “it was established in about 2020 that this is not an issue”, referring to a peer-reviewed paper.

The myth: Deep-sea mining could impact the ocean’s ability to sequester carbon and accelerate climate change.

The fact: Our activities, even at scale, will not materially impact the carbon cycle, even if we tried. In fact, we believe that by contributing far-less carbon intensive metals to support the energy transition and the creation of a circular metals supply chain, that our metals can play an important role in planetary decarbonization.

Resources:

Orcutt, B. N., et al. Impacts of deep-sea mining on microbial ecosystem services. Limnology and Oceanography 65: 1489–1510 (2020). 

Friedlingstein et al. Global Carbon Budget 2023. Earth Syst. Sci. Data, 15, 5301–5369 (2023). 

ISA Fact Check: The Carbon Cycle in the Area

Polymetallic Nodule Research Alliance. Will deep-sea mineral extraction release carbon into the atmosphere? (2025).

5. Biodiversity Loss: are we endangering unknown species?

The concern: Collecting nodules on the abyssal plain might lead to extinction of species that haven’t been studied.

What we found: After over a decade of research, we’ve developed a comprehensive environmental baseline of the NORI area from seafloor to surface, making this area one of the most well documented deep-sea regions on the planet. Positive signs of recovery have also been observed from multiple mining tests. The latest study, published by researchers from Natural History Museum London and MIT in 2025, observed full recovery of microscopic organisms in both track and plume areas, 44 years after they were disturbed by far more impactful equipment than is planned for use today. Our system has already demonstrated a much lower impact footprint than earlier tests, and we’ve documented faster recovery rates for similar microscopic organisms—reaching 30% of pre-disturbance density and 50% of diversity within just one year. These ecosystems have the ability to recover.

The vast nodule fields of the Clarion Clipperton Zone offer significant opportunities for protection: half of the area has already been set aside, never to be mined, and we will designate further large ‘no-take zones.’ Observations a year after test mining show nodules left behind quickly lose their sediment cover, making them available as habitat again as organisms rework the sediments and expose them. Research shows that the nodule abundance is not the limiting factor for deep-sea biodiversity, and that if we leave at least 5% of nodule coverage then we can facilitate or even speed up recovery. In total, at least half of the nodules in our license areas will remain untouched. 

The myth: We’re flying blind and could destroy lots of life that we don’t understand.

The fact: We’ve built the largest biological baseline in the CCZ which gives us a high-resolution understanding of what lives down there, down to the microbial level. Just as on land, we are unlikely to document all organisms, and extensive protected zones and the mosaic of areas that will be left untouched will help to prevent significant loss of biodiversity on the massive abyssal plains of the Pacific Ocean.

Resources:

Explore TMC’s environmental data Simon‐Lledó, Erik, et al. Ecology of a Polymetallic Nodule Occurrence Gradient: Implications for Deep‐Sea Mining. Limnology and Oceanography, vol. 64, no. 5, 13 (2019).

6. Habitat Destruction: will the impact be permanent?

The concern: Mining might irreversibly destroy ancient habitats.

What we found: The abyssal CCZ plays host to various habitat types, ranging from areas with high and low density of nodules. TMC’s activities will leave a patchwork of nodules behind, causing a change from one type of habitat to another.  

Consider this: Even if we assume that 50% of all exploration contract areas awarded by the International Seabed Authority moved into production tomorrow, nodule collection would transform just 0.18% of the global seafloor from one very common habitat to another. 

Importantly, at least 43% of the entire CCZ is already protected from any mining, ensuring the abyssal plain ecosystem will be protected. Thanks to re-visits to 1970s test mining sites as well as data from our own trials, we know that the ecosystem recovers.

The myth: Deep-sea mining is a one-way ticket to deep-sea ecosystem destruction.

The fact: Impacts are minimal and manageable — nodule collection will simply change parts of seafloor from one habitat type to another, and studies show that ecosystems do recover from nodule collection. By protecting large areas of the CCZ and ensuring our impact is as minimal as possible we can help ensure that this deep-sea habitat is not destroyed.

Resources:

The Metals Company. How Much Seafloor Will the Nodule Collection Industry Impact?, The Metals Company (2022).

Jones, Daniel, et al. Long-Term Impact and Biological Recovery in a Deep-Sea Mining Track. Nature, 642, pages 112–118 (2025). 

Vonnahme, T. R., et al. Effects of a Deep-Sea Mining Experiment on Seafloor Microbial Communities and Functions after 26 Years. Science Advances, vol. 6, no. 18 (2020).
Protected areas in the Clarion Clipperton Zone.

What you can do

We believe in open science and informed discussion. Here’s how you can get involved:

• Share the facts: Use our videos, in-field studies, and modeling data in social conversations
• Fact-check myths: Refer people to in-field data and peer-reviewed studies conducted on actual deep-sea operations 
• Stay informed: Sign up for investor updates here

Resources for investors and advocates

• TMC Investor website 
• Pilot Collection System Video
• Lifecycle Assessments Comparing Impacts of Sourcing Metals
• Preliminary EIA Findings – Press Release 
• The Polymetallic Nodule Research Alliance

Let’s move the conversation forward — with facts.

The post Mining the Facts: How TMC is addressing six key environmental concerns about deep-sea nodules appeared first on The Metals Company.

NEW YORK, Aug. 04, 2025 (GLOBE NEWSWIRE) — TMC the metals company Inc. (Nasdaq: TMC), a leading developer of the world’s largest estimated undeveloped resource of critical metals essential to energy, defense, manufacturing and infrastructure, today announced the release of a Technical Report Summary (TRS) of the Pre-Feasibility Study (PFS) for its proposed NORI-D Polymetallic Nodule Project in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean, prepared in accordance with Subpart 1300 of SEC Regulation S-K (SK-1300). The PFS marks a world-first declaration of Probable Mineral Reserves for deep-sea polymetallic nodules and was prepared and signed off by Qualified Persons, including AMC Consultants.

Alongside the PFS, TMC announced the publication of an Initial Assessment (IA) for the remainder of its resource in the NORI and TOML blocks in the CCZ, with a measured and indicated mineral resource of 73Mt of wet nodules grading 1.30% nickel, 0.20% cobalt, 1.2% copper and 30.2% manganese with an abundance of 12.8 Kg/m² and an inferred mineral resource of 1206 Mt of wet nodules grading 1.30% nickel, 0.20% cobalt, 1.1% copper and 28.7% manganese with an abundance of 11.6 Kg/m² supporting an After-tax NPV of $18.1 billion and After-tax IRR of 35.6%.

The two mineral resource reports follow TMC USA’s April 2025 submission of an application for a commercial recovery permit under the U.S. Deep Seabed Hard Mineral Resources Act (DSHMRA), along with two exploration license applications. The reports also come on the heels of a strategic investment from Korea Zinc—one of the world’s largest and most respected non-ferrous metal smelting groups. Together, these milestones reinforce TMC’s first-mover advantage in unlocking the world’s largest estimated undeveloped deposit of critical minerals and reflect growing confidence in the NORI-D Project’s economics and development plan as the U.S. and allied nations work to strengthen critical mineral supply chains.

Follow these links to read the reports: Technical Report Summary for the PFS; Technical Report Summary for the Initial Assessment of the remaining NORI and TOML resource.

Gerard Barron, Chairman and CEO of TMC, commented: “The combined net present value of $23.6 billion of the two studies should give investors a better idea of the economic potential of our total estimated resource. The PFS takes our NORI-D Project economics up the confidence curve and contains the declaration of mineral reserves — these are our first 50+ million tonnes with a potential commercially viable path to production, with more to follow as we advance our mine planning work. The phased project development plan will target initial production from the Hidden Gem vessel, with an estimated $113 million of development capital expenditure each from TMC and Allseas. First production is targeted for Q4 2027. This PFS brings us one step closer to responsible production, potentially opening the door to new pools of capital from strategic and government sources, and reinforces TMC’s leadership in this emerging industry.”

*The tables below summarize key findings under the PFS and IA. The summary does not purport to be complete and is qualified in its entirety by the PFS and IA. Readers are encouraged to read the PFS and IA in their entirety.

PFS and IA at a Glance.

¹ Generally Accepted Accounting Principles 
² weighted average based on production schedule and commodity prices
³dmtu: dry metric tonne unit

PFS Technical Report Summary Highlights

NORI-D Project Pre-Feasibility Study Overview

The Pre-Feasibility Study assumes that developing and operating the NORI-D Project is not only commercially and technically achievable but can begin with a capital-light approach by leveraging existing offshore and onshore infrastructure.

The PFS outlines a phased development plan for offshore collection and onshore processing of polymetallic nodules, targeting production ramp-up to 12 million tonnes per annum (Mtpa) of wet nodules within the first five years. This production rate supports a projected 18-year mine life for the NORI-D Project.

Initial processing is assumed to rely on proven rotary kiln electric furnace (RKEF) infrastructure in Japan and Indonesia to produce nickel-cobalt-copper alloy and matte intermediates, with final refining at future U.S.-based facilities to deliver battery-grade nickel and cobalt products.

With a first-quartile position on the global nickel cost curve, the NORI-D Project is expected to offer strong cost competitiveness. The project’s low all-in sustaining costs is enabled by high metallurgical recoveries and the use of existing infrastructure. The efficient, near-zero solid waste process assumed in the PFS underscores the quality of the nodule resource and reinforces TMC’s ability to deliver critical metals responsibly and at scale.

Lean, Focused, Ready: Starting with a Capital-Light Approach

The PFS highlights TMC’s capital-light execution strategy which is designed for speed, scalability, and efficiency. By leveraging proven offshore vessels and established onshore processing plants, through tolling agreements, the PFS assumes the minimization of upfront capital costs to get started while streamlining development timelines and reducing operational risk.

At sea, TMC’s offshore production system is assumed to feature vessels equipped with dual 15-meter-wide collectors, vertical riser and transport systems, and onboard infrastructure for dewatering, storage, and offloading. Each Production Vessel (PV) is would be be paired with a dynamically positioned Transfer Vessel (TV) to maintain continuous operations — enabling regular offloading of nodules without interrupting collection. Transfer Vessels would then deliver nodules to bulk carriers for shipment to shore, with Support Vessels (SVs) managing refuelling, waste, and crew logistics.

Initial onshore processing is assumed to commence under a 5-year tolling agreement with Pacific Metals Company (PAMCO) utilising existing rotary kiln electric arc furnace facilities at Hachinohe in Japan, allowing for the timely, near-term production of nickel-copper-cobalt alloy and manganese silicate without the need to construct new facilities. It is assumed that PAMCO would process up to 1.3 Mtpa of wet nodules, with TMC expanding capacity through additional tolling partnerships in Indonesia as offshore production volumes ramp up.

Looking ahead, the PFS assumes the construction of two dedicated refining facilities by TMC in the United States. These plants —designed for a combined capacity of 12 Mtpa of wet nodules — would convert intermediate products into high-purity nickel and cobalt sulfates, and copper cathode. TMC plans to own the facilities, with operations handled by experienced strategic partners, with 94% of refining capex spent in the 2030s.

The PFS assumes that Allseas — TMC’s major shareholder and strategic partner — is expected to lead the offshore delivery of the project, overseeing engineering, procurement, fabrication, commissioning, and operations of the nodule collection system. Logistics support and shipping services are expected to be delivered by third-party contractors, using bulk carriers and support vessels under long-term charter and service agreements.

As part of its capital-light development strategy, TMC is assumed to contribute to the funding of the initial PV and TV with future vessels to be financed by contractors and repaid through long-term operating agreements over a 10-year period. All SVs are expected to be modified to meet operational needs but would remain under the ownership and operation of third-party providers under charter agreements. Similarly, bulk carriers are expected to be owned and operated by third parties, with TMC paying standard shipping rates. Onshore RKEF processing facilities are anticipated to follow a similar model, with third-party ownership and operations under tolling agreements, under which TMC will pay a per-tonne processing fee. Only the future refining facilities in the United States — assumed to produce battery-grade materials — are planned to be owned by TMC, with operations and maintenance managed by experienced strategic partners.

Initial Mining Area Holds ~51 Million Tonnes of Probable Mineral Reserves.

Covering approximately 25% of the NORI-D measured and indicated mineral resource, the probable Mineral Reserves of 51Mt are expected to support the first seven to eight years of operations. Probable Mineral Reserves were derived using sampling protocols involving box coring, autonomous underwater vehicle (AUV) surveys, and advanced geostatistical methods such as kriging and conditional simulation.

The Mineral Resource estimate for NORI-D exclusive of Mineral Reserves totals approximately 274Mt of wet nodules, classified into Measured, Indicated, and Inferred categories. The resource model excludes areas with slopes greater than 6° and volcanic highs.

The sampling campaigns followed standardized QA/QC protocols, including the use of certified reference materials, blanks, and duplicate assays. The remarkable consistency gives TMC strong confidence that the reported metal grades are not just accurate—but highly representative of what lies on the seafloor.

The Initial Mining Area defining the Probable Mineral Reserves contains approximately 25% of the NORI-D Mineral Resource and the conversion of Mineral Resources in the Mining Area to Mineral Reserves is approximately 45%.

Based on additional high-resolution seafloor imagery and detailed mine planning, the study estimates that a further 113 Mt of wet nodules could be recoverable from NORI-D outside the Initial Mining Area, bringing the total recoverable nodules in NORI-D to 164 Mt. Adjusting for moisture content, that represents an estimated 1.6 Mt of contained nickel— potentially enough to support the production of batteries for tens of millions of electric vehicles, manufacture specialty alloys for advanced defense systems, or build the backbone of next-generation energy infrastructure.

From Zero to One: Scaling Up to Full Production

The PFS highlights that initial operations could begin in the designated Initial Mining Area, with one, and later two, collectors deployed from the first Production Vessel to reach an early production target of 3 Mtpa of wet nodules. As additional PVs are brought online, the study anticipates that output will ramp up toward an average steady-state capacity of approximately 10.8 Mtpa (wet). The mine plan is designed for flexibility and responsible growth, incorporating real-time environmental monitoring and adaptive management practices. The Company believes this iterative approach allows for continuous refinement of collection paths and operational strategy — supporting an efficient scale-up while actively managing technical and environmental risks throughout the life of the project.

The PFS assumes that polymetallic nodules will be collected using self-propelled, tracked vehicles equipped with nozzles that direct a jet of seawater across the tops of the nodules to gently uplift them from the seafloor — without the need for digging, drilling, or blasting. Inside the collector, nodules are separated from the entrained sediment and excess water before being transported through a 500-meter flexible jumper hose to a riser system engineered by Allseas, which injects compressed air at a depth of 2,500 meters to lift the nodules 4,300 meters to the surface, enabling efficient transport to the production vessel.

Once at the surface, nodules will be dewatered and transferred to the hold of the production vessel, with all remaining seawater and sediment returned into the water column at a depth of 2,000 meters as recommended by independent marine scientists.

Far from a simple blueprint, the NORI-D mine plan is the product of years of advanced modeling, seafloor mapping, and geotechnical analysis. It weaves together exclusion zones for protected reference areas, environmental buffers around sensitive terrain, and slope-avoidance measures to create a meticulously sequenced extraction schedule—one that maximizes the recovery of valuable metals while minimizing disruption to the deep-sea environment. Each elongated mining block is precisely aligned with the natural contours of the seafloor and prevailing current patterns, guided by terabytes of bathymetric and sediment data collected over more than a decade.

Delivering Scalable Processing with Proven Technology

The PFS assumes that the NORI-D Project will employ well-established RKEF technology—commonly used in the processing of nickel laterites—to convert polymetallic nodules into high-value products, including nickel-copper-cobalt alloy and manganese silicate. TMC’s flowsheet would then processes the alloy through sulfidation and converting steps to produce matte, which would be refined using hydrometallurgical techniques into copper cathode, nickel and cobalt sulfates, and fertilizer-grade ammonium sulfate.

By adapting proven industrial technologies for use with a new and abundant feedstock, TMC will pursue a pragmatic and capital-efficient processing path that maximizes metal recovery while minimizing solid waste. The Company believes this approach offers a clear and scalable route to responsibly deliver critical minerals into global supply chains.

*The table below outlines the anticipated steady state product mix and volumes of the wet nodules that would be recovered in the areas subject to the NORI-D Project.

Initial Assessment: Evaluating the Full Scope of TMC’s Resource

In addition to the PFS, TMC also released an Initial Assessment (IA) outlining the potential of its remaining resource in the TOML and NORI areas outside of NORI-D.

The IA presents a development plan for the NORI and TOML polymetallic nodule projects, encompassing a 23-year mining operation that employs advanced second-generation offshore collection systems with remotely operated Collector Vehicles and Production Vessels.

The IA indicates collection of approximately 670 Mt of wet polymetallic nodules across the NORI and TOML contract areas, with average grades of 1.3% nickel, 0.2% cobalt, 1.1% copper, and 28.8% manganese. It outlines an After-tax Net Present Value of $18.1 billion and an After-tax Internal Rate of Return of 35.6%, with a steady-state average EBITDA margin of 57%. These findings underscore the massive scale and economic strength of a resource base that positions TMC to deliver on its long-term strategy to build secure, circular metals supply chains to support energy, defense, manufacturing and infrastructure for generations to come.

*The table below sets forth the anticipated recoverable polymetallic nodules, the anticipated costs, the anticipated revenue, anticipated return and anticipated net present value in the NORI and TOML contract areas, excluding NORI-D

Deploying Next-Gen Systems to Drive the Next Phase of Growth

With a vast and scalable resource opportunity outlined in the Initial Assessment, we believe TMC is setting the stage for future growth. The development plan set out in the IA is preliminary in nature and intended to illustrate a potential scenario for future operations.

Nodules are assumed to be transported to Indonesia for processing into a matte product and manganese silicate through a tolling arrangement utilising existing processing infrastructure. The matte product would then be shipped to Texas on existing bulk carriers for further refining through a new refining facility developed by TMC with support from strategic partners.

Operations are assumed to commence in the TOML-F area with one PV producing 7 Mtpa of wet nodules and commencing in 2037. The IA assumes an additional two PVs would come online in 2038 and 2039 bringing total production from TOML-F to 21 Mtpa (wet). TOML-F is scheduled to be mined before the PVs relocate to the west for collection in other TOML and NORI areas that show lower abundance, reducing the production rate per PV to 5 Mtpa (wet). 

Upon arrival in Indonesia, the IA assumes that nodules would be offloaded from the Transport Vessels and transferred to existing RKEF facilities for processing into a nickel-copper-cobalt matte and manganese silicate product, thereby reducing upfront capital and aligning processing capabilities with the ramp-up of production capacity offshore.

The processed matte would then be loaded to bulk carriers and shipped to Texas. Manganese silicate is planned to be sold to market. The IA refining strategy involves construction of two additional refining facilities (anticipated to be 12 Mtpa wet nodule equivalent nameplate capacity each) in the United States to refine the matte and produce copper cathode, nickel sulfate, and cobalt sulfate.

CAPEX on offshore operations and RKEF facilities are expected to be managed as capital-light, by TMC entering operating agreements with contract miners and transport providers who would manage the collection and delivery of nodules to shore. The IA assumes that bulk carriers running between Indonesia and the United States are expected to be owned and operated by third parties, with TMC paying through standard shipping charges. All processing facilities in Indonesia are assumed to be owned and operated by third parties, with TMC paying for toll treatment per tonne of nodules. The IA assumes that all refining facilities in the U.S. would be TMC assets.

Comparing the PFS and the IA

*The table below summarizes the key findings under the PFS and IA, and presents combined results. The summary does not purport to be complete and is qualified in its entirety by the PFS and IA. Readers are encouraged to read the PFS and IA in their entirety.

About The Metals Company

The Metals Company is a developer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for energy, defense, manufacturing and infrastructure with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing. More information is available at www.metals.co.

More Info 
Media | media@metals.co
Investors | investors@metals.co

Cautionary Statements Regarding the Pre-Feasibility Study and the Initial Assessment

The NORI-D Pre-Feasibility Study and the NORI and TOML Initial Assessment contain forward-looking information derived from preliminary economic assessments and conceptual development scenarios that are subject to significant uncertainty. The report for NORI-D does not represent a feasibility study and does not support a development decision. Similarly, the Initial Assessment of the TOML and NORI is not a declaration of mineral reserves and is not sufficient to determine the economic viability of a mining project. In addition, such Initial Assessment reports inferred mineral resources, which have a high degree of uncertainty as to their existence and to whether they can be economically or legally commercialized, under the SEC rules may not form the basis of an economic analysis and for which you cannot assume any part thereof will ever be upgraded to a higher category. Until mineral deposits are actually mined and processed, mineral resources and mineral reserves must be considered as estimates only. The estimates, projections, and analyses contained in the reports are based on numerous assumptions, including those related to recovery methods, costs, infrastructure, financing, regulatory approvals, and market conditions, many of which are beyond TMC’s control. Actual results may differ materially from those presented. Investors are cautioned not to place undue reliance on these reports and are encouraged to review the full summaries and underlying assumptions.

Forward Looking Statements

This press release contains “forward-looking” statements and information within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable U.S. securities laws. These statements may be identified by words such as “believes,” “could,” “expects,” “may,” “plans,” “possible,” “potential,” “will” and variations of these words or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements with respect to the results of the Pre-Feasibility Study (PFS) and Initial Assessment (IA), including estimated mine life, project economics, capital and operating cost projections, resource and reserve estimates, expected production volumes, recoveries and grades; TMC’s plans to advance development of the NORI-D Project; the anticipated permitting path under U.S. law; the expected regulatory process with the International Seabed Authority; the feasibility and scalability of TMC’s capital-light execution strategy; the potential timing of commercial production; TMC’s ability to secure strategic partnerships, tolling arrangements, and refining capacity; and TMC’s belief that the PFS and IA support the economic viability and long-term value of its polymetallic nodule resources. TMC may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things: risks related to the accuracy of mineral resource and reserve estimates and technical assumptions in the PFS and IA; changes in demand for and prices of critical metals; risks related to TMC’s ability to obtain necessary regulatory approvals, including those from the International Seabed Authority and under the U.S. Deep Seabed Hard Mineral Resources Act (DSHMRA); the outcome and timing of reviews by NOAA or other U.S. government agencies; uncertainties associated with TMC’s dual-path permitting strategy; the availability and performance of future offshore and onshore processing infrastructure; risks related to environmental impacts and the ability to meet evolving environmental standards and obtain required environmental approvals; risks related to financing needs and the availability of capital; TMC’s limited operating history; and other risks and uncertainties, any of which could cause actual results to differ from those expressed or implied in the forward-looking statements. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause TMC’s actual results to differ materially from those contained in the forward-looking statements, see the section entitled “Risk Factors” in TMC’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (SEC) on March 27, 2025, as well as in TMC’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC. Forward-looking statements are based on current expectations and assumptions and reflect TMC’s views as of the date hereof. TMC undertakes no obligation to update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/9d444ab7-3841-4b3e-afd6-4f443af953c8

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America’s return to leadership in deep-sea mining

Throughout the 1970-1990s, America was a pioneer in deep-sea mining. Following last week’s Executive Order, TMC’s applications pave the way for America’s return to leadership in this exciting industry.

• TMC USA has also submitted two exploration license applications: TMC USA-A and TMC USA-B with a total combined area of 199,895 square kilometers
• We believe the TMC USA-A and USA-B exploration areas contain SEC SK 1300-compliant resources of 1,635 million wet tonnes of polymetallic nodules, with an additional estimated 500 million tonnes of exploration upside. Together, the resource is estimated to contain approximately 15.5 million tonnes of nickel, 12.8 million tonnes of copper, 2.0 million tonnes of cobalt, and 345 million tonnes of manganese

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) — TMC the metals company Inc. (Nasdaq: TMC) (TMC or the Company), an explorer of the world’s largest undeveloped resource of critical metals for infrastructure, defense, energy and future technologies, today announced that its U.S. subsidiary, The Metals Company USA LLC (TMC USA), has submitted applications for a commercial recovery permit and two exploration licenses under the Deep Seabed Hard Mineral Resources Act (DSHMRA) and National Oceanic and Atmospheric Administration (NOAA) implementing regulations which form the U.S. seabed mining code.

The submission follows last week’s Executive Order, ‘Unleashing America’s Offshore Critical Minerals and Resources,’ which directs the Department of Commerce to expedite permitting and the Departments of Defense and Energy to explore using the National Defense Stockpile and offtake agreements to secure seabed minerals essential to U.S. industrial resilience.

TMC USA’s applications are informed by over a decade of scientific research, environmental data collection, and proven offshore engineering by the Company and its partners, paving the way for responsible commercial development of deep-sea critical minerals and building upon the foundation laid by NOAA as a pioneer of deep-sea environmental research in the 1970s and 80s.

Gerard Barron, Chairman and CEO of The Metals Company, said: “Today marks a major step forward—not just for TMC USA, but for America’s mineral independence and industrial resurgence. With these applications, we are offering the United States a shovel-ready path to new and abundant supplies of nickel, copper, cobalt, and manganese—critical metals for energy, infrastructure, and defense. After continuous delay at the international level, the United States now has a clear opportunity to reclaim its leadership role in the deep sea and set a global standard for responsible, science-based deep-seabed resource development.”

“We have invested over a half a billion dollars and have spent more than a decade preparing for this moment, investing in deep-sea science, engineering and technology to build the world’s most advanced deep-sea minerals platform. With strong support from Washington and a stable, enforceable U.S. regulatory pathway, we look forward to delivering the world’s first commercial nodule project—responsibly, transparently, and economically—and to helping power a new era of American industrial strength.”

TMC USA’s commercial recovery permit application covers a proposed 25,160 square-kilometer area referred to as TMC USA-A_2 which includes areas that contain the Company’s already indicated and measured resources in the CCZ, located approximately 1,300 nautical miles south of San Diego.

We believe the TMC USA-A and USA-B exploration areas contain SEC SK 1300-compliant resources of 1,635 million wet tonnes of polymetallic nodules, with an additional estimated 500 million tonnes of potential exploration upside based on internal estimates. Together, the resource is estimated to contain approximately 15.5 million tonnes of nickel, 12.8 million tonnes of copper, 2.0 million tonnes of cobalt, and 345 million tonnes of manganese. These areas contain the Company’s estimated resources which are supported by existing SK 1300 Technical Report Summaries.

TMC USA’s strategic move under DSHMRA sets the foundation for an emerging industrial ecosystem expected to mobilize tens of billions of dollars in private sector investment across U.S. shipbuilding, port infrastructure, minerals processing, and manufacturing, enabling the United States to secure new supplies of critical minerals.

NOAA is expected to make an initial determination as to whether TMC USA’s applications for exploration licenses are in full or substantial compliance with the applicable requirements under DSHMRA and its implementing regulations within 30 days of receipt and whether TMC USA’s application for a commercial recovery permit is complete within 60 days. NOAA is then expected to proceed with a full review of the applications, including environmental and technical evaluations.

About The Metals Company

The Metals Company is an explorer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for building infrastructure, power generation, transmission, and batteries with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company through its subsidiaries holds exploration rights to two polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean sponsored by the governments of the Republic of Nauru and the Kingdom of Tonga, and has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing. More information at www.metals.co.

Contacts

Media | media@metals.co 

Investors | investors@metals.co 

Forward Looking Statements

This press release contains “forward-looking” statements and information within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “may,” “plans,” “possible,” “potential,” “will” and variations of these words or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s applications for licenses and permits under DSHMRA; and NOAA’s review thereof as well as statements about the impact thereof on the Company, the United States, investments in U.S. industries and sectors and the supply of critical metals found in deep-sea polymetallic nodules; the strength, predictability, and enforceability of the U.S. regulatory regime; and the Company’s strategic, financial, and operational plans moving forward. The Company’s applications are subject to an initial determination by NOAA as to substantial compliance and completeness under DSHMRA, and there can be no assurance that such determination will be favorable, that the applications will proceed to full review without delay, or that NOAA will not request additional information, modifications, or clarifications prior to accepting the applications for full review or that any of the applications will lead to NOAA granting the Company any exploration licenses or a commercial recovery permit. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things: the Company’s strategies and future financial performance; the outcome of discussions and consultations with NOAA or other U.S. government officials; the Company’s ability to obtain required licenses and permits under DSHMRA or any other applicable U.S. laws or regulations; regulatory uncertainties and the impact of government regulation or political developments on the Company’s activities; the potential for legal or jurisdictional challenges to the Company’s rights or proposed operations in international waters; environmental risks and liabilities; the Company’s ability to develop sufficient data to support license and permit applications and satisfy environmental requirements; the Company’s ability to develop commercial operations, including onshore processing capabilities; risks associated with the Company’s limited operating history and need for additional financing; and other risks and uncertainties, any of which could cause actual results to differ from those expressed or implied in the forward-looking statements. These risks are described in greater detail in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (SEC) on March 27, 2025, and in any subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether due to new information, future events, changed circumstances or otherwise, except as required by law.

A photo accompanying this announcement is available at 
https://www.globenewswire.com/NewsRoom/AttachmentNg/7f508b7b-14b0-4ccf-8b3d-d4a54944fbe9

The post World First: TMC USA Submits Application for Commercial Recovery of Deep-Sea Minerals in the High Seas Under U.S. Seabed Mining Code appeared first on The Metals Company.

Unleashing America’s Energy Independence Through Seabed Minerals

Throughout the 1970-1990s, America was a pioneer in deep-sea mining. Today’s Executive Order marks America’s return to leadership in this exciting industry.

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Deep-sea mineral ecosystem

The deep-sea mining industry is poised to mobilize tens of billions in private investment in the United States across shipbuilding, ports, mineral processing and refining, and advanced manufacturing.

The Executive Order — ‘Unleashing America’s Offshore Critical Minerals and Resources’ — directs Commerce Secretary Lutnick to implement an expedited permitting process under the Deep Seabed Hard Mineral Resources Act DSHMRA, a statute passed by Congress in 1980, and implementing regulations of the National Oceanic and Atmospheric Administration (NOAA) which govern the exploration and commercial recovery of hard mineral resources from the deep seabed in international waters. In addition to directing the International Development Finance Corporation, Export-Import Bank and Trade and Development Agency to identify tools to support this new industry, the order also instructs the Departments of Defense and Energy to assess the use of the National Defense Stockpile for nodule-derived minerals and entering into offtake agreements for the procurement of these minerals. In addition, these departments are also directed to review and revise domestic processing capabilities for seabed mineral resources and Defense Production Act authorities.

In light of its long-standing partnerships with the Pacific Island nations of Nauru and Tonga, the Company welcomes the Executive Order’s directive for a joint assessment—led by the Secretaries of Commerce, State, Interior, and Energy in coordination with U.S. partners and allies—on the feasibility of an international seabed benefit-sharing mechanism.

The Company’s U.S. subsidiary, The Metals Company USA LLC (“TMC USA”), is strategically positioned to play a central role in responsibly recovering polymetallic nodules to strengthen U.S. critical mineral supply chains and in building an industrial ecosystem enabled by deep seabed minerals—an emerging sector expected to mobilize tens of billions in private investment in the United States across shipbuilding, ports, mineral processing and refining, and advanced manufacturing. TMC USA has been evaluating U.S. locations for nodule processing since 2019, in order to reshore critical mineral processing and related mid-to-downstream industries to America.

Gerard Barron, Chairman and CEO of The Metals Company, said: “Throughout the 1970-1990s, America was a pioneer: U.S.-based consortia developed deep-sea nodule collection and processing; the U.S. Congress passed a deep seabed mining statute; NOAA put in place implementing regulations, completed offshore research campaigns and developed a programmatic environmental impact statement (EIS) for the area covering the Clarion-Clipperton Zone as well as five site-specific EISs. President Trump’s Executive Order marks America’s return to leadership in deep seabed minerals. With a stable, transparent, and enforceable regulatory pathway available under existing U.S. law, we look forward to delivering the world’s first commercial nodule project—responsibly and economically. As always, we remain committed to acting in the best interests of our sponsoring states, partners, investors, and the planet.”

Last month, TMC USA announced its intent to apply for licenses and permits under DSHMRA in the second quarter of 2025, and that it has formally initiated a pre-application consultation process with NOAA. Following extensive legal diligence on DSHMRA, NOAA’s implementing regulations and other applicable environmental protection legislation, the Company strongly believes that the U.S. seabed mining code offers the most efficient and transparent pathway for permitting commercial recovery of deep-sea mineral resources, in which proactive engagement between industry and the regulator forms a critical part of the regulatory process.

U.S. Leadership in Seabed Mining Regulation

• U.S. Congress passed DSHMRA in 1980, affirming that deep-seabed mining is a Freedom of the High Seas and granting NOAA authority to regulate exploration and commercial recovery activities of U.S. citizens in international waters
• NOAA adopted the implementing regulations on exploration licenses in 1981, followed by implementing regulations on commercial recovery permits in 1989, based on over six years of stakeholder consultations
• Under its Deep Ocean Mining Environmental Studies (DOMES) conducted from 1975 to 1981, NOAA developed a Programmatic Environmental Impact Statement (EIS) inclusive of the CCZ, published 5 site-specific EISs for U.S. exploration licenses and provided 7 reports to Congress on Deep Seabed Mining between 1981 and 1995
• As part of its licensing and permitting process, NOAA develops site-specific EISs, consults with over 11 other U.S. agencies and solicits public stakeholder comment to ensure a robust basis for its decisions
• As a regulator, NOAA has adopted a common-sense, science-based approach, explicitly recognizing that regulatory flexibility and trade-offs are required for emerging industries, while guarding against irreparable harm and significant adverse environmental impacts
• NOAA engages with applicants through pre-application consultation and offers written guidance where appropriate to assist in the development of adequate applications

About The Metals Company

The Metals Company is an explorer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for building infrastructure, power generation, transmission, and batteries with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company through its subsidiaries holds exploration rights to two polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean sponsored by the governments of the Republic of Nauru and the Kingdom of Tonga, and has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing. More information is available at www.metals.co.

Contacts

Media | media@metals.co

Investors | investors@metals.co

Forward-Looking Statements

This press release contains “forward-looking” statements and information within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “may,” “plans,” “possible,” “potential,” “will” and variations of these words or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s plans to apply for licenses and permits under the U.S. Deep Seabed Hard Mineral Resources Act (DSHMRA); the expected timing, process and outcome of any applications to the National Oceanic and Atmospheric Administration (NOAA); the strength, predictability, and enforceability of the U.S. regulatory regime; the potential for the United States to provide a viable permitting path for commercial recovery of deep-sea minerals; and the Company’s strategic, financial, and operational plans moving forward. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things: the Company’s strategies and future financial performance; the outcome of discussions and consultations with NOAA or other U.S. government officials; the Company’s ability to obtain required licenses and permits under DSHMRA or any other applicable U.S. laws or regulations; regulatory uncertainties and the impact of government regulation or political developments on the Company’s activities; the potential for legal or jurisdictional challenges to the Company’s rights or proposed operations in international waters; environmental risks and liabilities; the Company’s ability to develop sufficient data to support permit applications and satisfy environmental requirements; the Company’s ability to develop commercial operations, including onshore processing capabilities; risks associated with the Company’s limited operating history and need for additional financing; and other risks and uncertainties, any of which could cause actual results to differ from those expressed or implied in the forward-looking statements. These risks are described in greater detail in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed on March 27, 2025. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether due to new information, future events, changed circumstances or otherwise, except as required by law.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/de134d05-5dad-4874-bfc7-fffdd339cb22

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In this candid Q&A, the President of Nauru reflects on the Pacific Island nation’s deep connection to the ocean, its history with phosphate mining, and the opportunities ahead with Nauru Ocean Resources Inc. (NORI) and deep-sea nodules. As Nauru navigates challenges like creating economic resilience and adapting to climate change, the President shares how polymetallic nodule collection offers a way forward—not only for Nauru’s economy but also in contributing to the global energy transition.

NORI: Can you tell us about Nauru’s Connection to the Ocean?

President Adeang:

If you come to Nauru, you’ll find that most people live on the coast. That’s because we grew up as fishermen. The ocean provides for us, it connects us, and it’s dear to us. Even today, much of our budget comes from selling access to our fisheries, which is a very important part of our economy.

People here love their fish. Stories about the ocean and sea life are deeply embedded in our traditional narratives. Going forward, we can’t ignore that Nauru is perhaps a bigger ocean state than a land state. While we are only 22 square kilometers of land, our Exclusive Economic Zone in the ocean is vast.

NORI: In the past, colonial powers benefitted greatly from Nauru’s resources. How has this colonial past shaped the country?

President Adeang:

We have a history shaped by the mining of phosphate, which has been ongoing for over a hundred years. Nauru itself has only benefited from phosphate since 1968, when we became independent. Before that, the colonial powers—mainly Australia, New Zealand, and to some extent, the United Kingdom—took advantage of cheap, or free, phosphate to build their economies. After independence, we quickly became one of the richest countries in the world on a per capita basis due to revenues from phosphate. But we made mistakes, and we’ve learned from them. 

Those lessons have greatly shaped how we now approach the opportunity of deep-sea nodules and how we can better manage the abundance they will offer for the people of Nauru. As one of the smallest republics in the world, our resources are limited, but our challenges are significant. One of the major issues we face is economic resilience. The collapse of the phosphate industry, for example, caused widespread hardship on the island. Another challenge came with the introduction of the refugee processing center. Nauru must continually find ways to strengthen its economic resilience, and we see deep-sea nodules as one of the key pillars that can contribute to our economic stability.

We’ve learned to manage resources more wisely, and deep-sea nodules present an opportunity to bring prosperity to Nauru in a more responsible way.

NORI: Is it possible for small island states to play a role in the global energy transition?

President Adeang:

I think it’s important for small islands like Nauru not to just complain about the effects of climate change or beg richer countries to act. Deep-sea nodules give us a real opportunity to contribute to the world’s transition to clean energy. We can play an important role in decarbonization, helping to move the world toward clean energy.

It’s not just about employment opportunities or revenue—although those are important—it’s about Nauru playing its part in solving global challenges. We can proudly contribute to clean energy while ensuring our own economic future.

NORI: What is Nauru’s role as a regulator for the nodule industry, and how will you protect against serious harm to the deep-sea environment?

President Adeang:

We’ve seen the science, and it is telling us that the environmental impact of deep-sea nodule extraction is minimal—far less than terrestrial mining. We have established the Nauru Seabed Minerals Authority. We’ve put the right people in place, and we’re resourcing the Authority to ensure we regulate this industry responsibly.

As guardians of the ocean, we have a responsibility to protect it. But we are confident in the science and in our partnership with NORI and The Metals Company. They have invested heavily in environmental studies which show convincingly that when mining begins, the impact will be minimal. We are also working with our Pacific neighbors, and we are sharing the science and terabytes of data with those who need to know, so that everyone understands the realities of deep-sea nodule collecting.

Through the Nauru Seabed Minerals Authority, we’re working closely with the International Seabed Authority to establish and update regulations. This isn’t just about one government; multiple governments are involved, which makes the regulations stronger.

We believe this collaboration will ensure that deep-sea mining is done responsibly, and we’re happy to contribute to creating thorough, well-informed international regulations as this industry develops.

NORI: Anything else that you would like to add?

President Adeang:

Deep-sea mining is an exciting, promising industry for Nauru and for the Pacific. Its potential to meet the world’s energy needs is significant. We must pursue this opportunity not just to help the world but also to protect the future of small island states like Nauru. It’s time for the International Seabed Authority to adopt the regulations, which we have seen, and which are very comprehensive. And it’s time for the islands to show that we can stand up and contribute to a better future for ourselves and the planet.

This article was originally published on the Government of Nauru’s Facebook page.

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We are committed to scientific integrity and transparency. All scientists and institutes involved with our deep-sea science program are free to publish their findings in peer-reviewed literature and, over the years, we have welcomed numerous peer-reviewed papers based upon the data they have collected. However, we echo rising concerns from academics and other industry members about a recent paper from Sweetman et al. on the potential for polymetallic nodules to produce oxygen, a phenomenon they refer to as “dark oxygen”, that it does not meet these high scientific standards. 

As any good scientist knows, extraordinary claims require extraordinary evidence. Oxygen flux has been measured in multiple nodule fields in the Clarion-Clipperton Zone prior to Sweetman et al.’s paper— all of these measurements published in peer-reviewed literature showed oxygen consumption. A finding that polymetallic nodules can produce oxygen would have the potential to upend our understanding of biological evolution and the oxygenation of Earth. Yet, contrary to the paper’s title, the authors do not present any credible evidence to support dark oxygen production at the abyssal seafloor. We commissioned the work that informed this paper and our team has access to all the raw data and research notes related to these experiments, as detailed in our rebuttal. Key points are summarized below.

Omitting key data

Sweetman et al. claim that benthic chamber experiments in NORI-D support the hypothesis that nodules produce oxygen on the abyssal seafloor, but evidence shows that they omitted key metadata that critically undermines this thesis. Furthermore, the authors publish re-purposed data from a previous study (Cechetto et al. 2023), which Sweetman coauthored, without citation. In essence, Sweetman et al. fail to acknowledge that this previous study used the same data. The authors neglect to discuss the paper’s key contradictory finding that oxygen consumption was measured, rather than production. More importantly, they fail to disclose that the chambers that support their thesis did not actually contain nodules. As Cechetto et al. (2023) note: “No nodules were collected [from the chambers] as they were either not present or in the form of manganese oxide granules”.

Selective reporting of data to support extraordinary claims

In a separate independent critical review, scientists at Adepth identified significant shortcomings in Sweetman et al.’s experimental design, such as the lack of lander device validation with control experiments. However, in examining the raw dataset, we did find evidence that Sweetman et al. conducted control experiments. Sweetman et al. fail to report or discuss the results from experiments to test if oxygen production occurred without nodules. During one benthic lander deployment, they kept chambers above the seafloor without any sediment or nodules inside. Oxygen levels rose in two out of three chambers, directly challenging Sweetman et al.’s claim that the oxygen increased due to the presence of nodules.  

Furthermore, Sweetman et al. failed to accurately measure seawater oxygen concentrations in NORI-D. They report much higher and more inconsistent measurements in their experiment chambers than concentrations measured by multiple academic institutes and industry partners have recorded over several years using a variety of sensors. They do not explain this inconsistency.  

When considering the omitted information and uncited earlier paper together, Sweetman et al.’s paper’s conclusions are completely unsupported.

Contaminated core experiments

Sweetman et al. use their ex-situ experiments as a foundation to support the hypothesis that nodules on the seafloor produce oxygen. However, the oxygen levels they measured were highly variable; in fact, many were lower than the in-situ background levels in NORI-D. This is likely due to the common occurrence of core samples becoming contaminated with water from the “oxygen minimum zone” during their recovery. During the ex-situ experiments, oxygen levels never exceeded background oxygen concentrations found in NORI-D, indicating that the samples were coming back into equilibrium rather than producing oxygen. 

Our critique builds upon and provides the raw data that confirms the data issues that others have highlighted in recent weeks. Indeed, scientists at Adepth have noted issues with:

Hydrogen: While claiming that nodules split seawater into hydrogen and oxygen through electrolysis, Sweetman et al. do not provide any data or discussion on hydrogen observations that would allow someone to validate their claims. 

Nodule voltage insufficient for electrolysis: The reported nodule-surface voltage value of 0.95V is insufficient to initiate seawater electrolysis, and the highest value that Sweetman et al. report in their plotted dataset is 0.24V, which suggests an error or selective data reporting. In excluding anomalous data while discussing it in the text, Sweetman et al. mislead readers and misrepresent their findings. 

Bursting the Bubble

Sweetman et al.’s extraordinary claims of ‘dark oxygen’ production from seafloor nodules in NORI-D crumble under scrutiny. By selectively reporting data and omitting key evidence, including experiments that show oxygen increases without nodules, they significantly alter how one interprets the results and contradict their claims. We would suggest that rarely has a dataset been published that so emphatically undermines the leading hypothesis. Yet, Sweetman’s supposed findings of ‘dark oxygen’ were sensationalized in media headlines worldwide. 

We hope this rebuttal might inject some integrity into the conversation, and aid in correcting the scientific record.

Download a pre-print of the rebuttal here

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On November 23rd, Greenpeace began actively disrupting our scientific operations, hindering the exact scientific work that was asked for by ISA Member States and at the request of the Legal & Technical Commission that will review our application. Since then, Greenpeace’s disruptive actions have escalated with the explicit aim of stopping the science by, in their own words, “disrupting [our] attempt at collecting data”. On November 25th, Greenpeace illegally boarded our vessel in a manner that puts our crew and theirs at serious risk, disrupting the research of dozens of scientists.

Greenpeace, which currently has observer status at the ISA, previously called for more science. However, despite ours and others’ efforts to conduct this science, they have shifted from advocating for evidence-based decision-making. They now assert that deep-sea mining should not proceed, and that rather than allow the ISA to fulfil its mandate of delivering final rules, regulations and procedures, Greenpeace should decide whether this industry can proceed. As they would have it, theirs is the only voice that matters and the science must stop, as though they are afraid that the in-field observed data analyzed by independent scientists — some of which we shared in a recent public webinar — contradicts their misleading assertions about potential impacts of collecting nodules.

Their actions are anti-science, dangerous, illegal and directly challenge the spirit of multilateralism codified by the United Nations Convention on the Law of the Sea and the rules that all ISA Member States have agreed to follow. We will use all legal measures available to us to protect the rights of our stakeholders and prevent this illegal activity.

We remain dedicated to collaboration and dialogue with all stakeholders, including environmental groups, as our CEO stated in a recent open letter to the ocean conservation community. We will continue our pioneering work to collect and openly share this important data with the world to enable informed decision-making.

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