Highlights
- TMC attempts to circumvent UN International Seabed Authority to gain unilateral U.S. approval for deep-sea metal extraction
- Environmental groups warn of potential severe damage to marine ecosystems from industrial seabed mining
- Company targets critical battery metals like cobalt, copper, and manganese in Pacific Ocean's Clarion Clipperton Zone
In aMarch 27, 2025 article for The New York Times, investigative reporter Eric Lipton reveals that The Metals Company (opens in a new tab) (TMC) has been quietly negotiating with the Trump administration to bypass the United Nations’ International Seabed Authority (opens in a new tab) and gain unilateral U.S. approval to mine the deep Pacific seabed for metals like cobalt, copper, and manganese—critical for electric vehicle batteries.
The move, which would sidestep a longstanding international treaty signed by over 160 countries, sparked immediate backlash from environmental groups and diplomats, who fear that industrial seabed mining could cause severe harm to fragile marine ecosystems. The piece highlights a potential flashpoint in the global struggle between mineral demand and environmental protection.
Follow the link (opens in a new tab) to further ponder.
The Company
Publicly traded, TMC is a deep-sea mining firm focused on extracting polymetallic nodules rich in nickel, cobalt, and other metals essential for electric vehicle batteries and renewable energy technologies. As of March 28, 2025, TMC's stock closed at $1.72 per share, reflecting a 1.18% increase from the previous trading day.
The company has a market capitalization of approximately $557.73 million. Notably, TMC reported no revenue for the trailing twelve months, with an EBITDA loss of $97.82 million and a net income loss of $99.34 million during the same period. Additionally, the company holds $360,000 in cash against $9.18 million in total debt, resulting in a current ratio of 0.05, which may indicate potential liquidity challenges.
Institutional investors hold only 9.52% of TMC's shares, suggesting lower institutional confidence in TMC. Analyst consensus indicates a moderate buy rating for TMC, with a price target of $3.88, implying a potential upside of 125.29%.
TMC, the metals company Inc., doing business as The Metals Company, formerly DeepGreen Metals, is a Canadian deep-sea mining exploration company. The for-profit company focuses on the mining of polymetallic nodules in the Clarion Clipperton Zone of the Pacific.
Would Trump court head on NGO environmental opposition to any within US-controlled waters deep-sea vacuum mining? He is likely to face a lot of this with any new RE within US borders dry land mining moves (never mind the issue of any need for seabed mined RE feedstock).
GLTA – REI