TMC’s subsidiary has submitted a consolidated application to the National Oceanic and Atmospheric Administration (NOAA) for an exploration license and a commercial recovery permit.
- The application is for exploration and mining of polymetallic nodules in international waters of the Clarion Clipperton Zone in the Pacific Ocean.
- NOAA on Wednesday had updated its regulations on deep-sea explorations in an attempt to push for speedy permits for the U.S. companies searching for critical minerals in international waters.
- TMC on Wednesday had said it intends to file a consolidated application for deep-sea exploration.
The Metals Company stock rallied again on Wednesday and was the top trending stock on Stocktwits garnering major retail interest.
The company announced that its U.S. subsidiary, The Metals Company USA, has submitted a consolidated application to the National Oceanic and Atmospheric Administration (NOAA) for an exploration license and a commercial recovery permit for polymetallic nodules in international waters of the Clarion Clipperton Zone in the Pacific Ocean.
The application was filed under NOAA's new consolidated application and review process and represents the first submission of its kind. It covers about 65,000 square kilometers of exploration and commercial recovery area in the CCZ, compared to a commercial recovery area of about 25,000 square kilometers in TMC USA's initial commercial recovery permit application from April 2025.
“This new application represents the culmination of more than a decade of disciplined scientific, engineering, and environmental work,” Gerard Barron, Chairman and CEO of TMC, said.
“It translates years of exploration, testing, and data collection into a single, comprehensive submission for a defined, expanded, and game-changing critical minerals project, with more than 800 million estimated tonnes of nodules containing high-grade nickel, copper, cobalt and manganese,” he added.
Boost From NOAA
NOAA on Wednesday had updated its regulations on deep-sea explorations in an attempt to push for speedy permits for the U.S. companies searching for critical minerals in international waters.
As per the new rule, the licensing and permitting process for deep-sea explorations will be consolidated into a single and shorter review process.
Under the new regulations, U.S. companies will be able to choose from two options. They could choose to use the sequential approach or instead choose a new consolidated application process that will allow them to apply for and obtain both the exploration license and the commercial recovery permit simultaneously for deep sea mining activities.
TMC on Wednesday had said it welcomes the move and intends to file a consolidated application pursuant to NOAA’s updated regulations.
How Did Stocktwits Users React?
Retail sentiment around TMC trended in ‘extremely bullish’ territory amid ‘extremely high’ message volume.
One bullish user predicted that the stock is marching towards $15 soon.
Shares in the company have jumped 47% year-to-date.
