TMC Targets $23 Billion Sea Floor Wealth As ISA Oversight Looms

The Metals Company (NASDAQ:TMC) has released a pre-feasibility study (PFS) for its NORI-D project in the Clarion-Clipperton Zone. This study is the world’s first declaration of probable mineral reserves for polymetallic nodules in international waters.

“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 tons with a potential commercially viable path to production, with more to follow as we advance our mine planning work,” said CEO Gerard Barron.

He added that the combined net present value of $23.6 billion across two studies gives investors a clearer picture of the project’s scale.

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The PFS and accompanying Initial Assessment outline 73 million tons of measured and indicated wet nodules grading 1.30% ...