The Metals Company (TMC) is an explorer of seafloor polymetallic nodules as a potential alternative source of four key battery metals (Ni, Cu, Co & Mn) for electric vehicle battery and steel production. TMC is a Canada-based and NASDAQ-listed company whose NORI and TOML exploration areas have both U.S. SEC S-K 1300 and Canadian NI 43-101 technical resource statements. The company expects to begin first commercial production in Q4 2024. Seafloor nodules represent the planet’s largest deposits of manganese, nickel and cobalt, and a major deposit of copper. Lying unattached on the Pacific seafloor at depths over 4 kilometers, nodules can be collected without drilling or blasting and could reduce environmental and social impacts of sourcing these metals by 70 to 99% compared to terrestrial sources, including with 90% fewer CO2e emissions and near-zero solid waste.
In addition to the production of critical battery metals to support electrification, the pre-reduced nature and low levels of impurities in TMC’s manganese silicate (MnSi) product could reduce costs & CO2 emissions associated with the production of silico-manganese (SiMn) used in steelmaking, compared to conventional land-based ores.