The Metals Company Hires Bechtel Veteran Grant Lindner as Project Director to Advance its NORI-D Project, as CDO Anthony O’Sullivan Prepares to Step Down
October 20 2022 - 4:05PM
The Metals Company (NASDAQ: TMC) (the “Company” or “TMC”), an
explorer of lower-impact battery metals from seafloor polymetallic
nodules, today announced that it has appointed Grant Lindner as
Project Director for NORI as the Company looks to bring online its
first polymetallic nodule project (NORI-D Project) to supply
critical battery metals for the clean energy transition. Grant will
play a key role in advancing all areas of the NORI-D Project
including the submission of the Environmental Impact Assessment and
exploitation application to the International Seabed Authority, and
the safe delivery of offshore and onshore development plans. The
Company also announced that its CDO Anthony O’Sullivan resigned as
of October 14, 2022 for personal and health reasons, though he will
remain in the position through a twelve-month transition period.
Grant brings extensive experience in delivering
complex resource projects in the construction and mining industries
and has delivered over $26 billion in project value during his
25-year career at leading engineering and construction group,
Bechtel, and mining major, BHP. He has held senior executive roles
for large-scale mining, smelter and refinery, material handling and
marine projects and has a record of building high-performing teams
to ensure efficient project delivery.
Gerard Barron, CEO and Chairman of The Metals
Company, commented: “First I’d like to thank Tony for his
considerable contributions to the company since joining us in 2017.
It has been a pleasure to have him alongside me during such an
important time in the evolution of the company and the industry.
I’m grateful that he will provide us a year to transition, and I am
hoping to count on his expertise and counsel well into the
future.”
He added: “Bringing talent like Grant into the
business strengthens our ability to deliver a high-quality
exploitation application for NORI-D and get our first project into
production. We are fortunate to have his considerable project
leadership experience to deal with the complexities and
uncertainties of doing something that has never been done
before.”
Across two of its nodule contract areas in the
Clarion Clipperton Zone of the Pacific Ocean, The Metals Company
has identified 1.6 billion tonnes of wet nodules representing the
largest undeveloped source of battery metals on the planet, with
enough in situ nickel, cobalt, copper and manganese to electrify
280 million electric vehicles – equivalent to entire U.S. light
vehicle fleet. NORI-D, the Company’s first project, is ranked by
Mining.com as the largest undeveloped nickel project on the planet,
with a higher nickel equivalent grade (3.2%) than any other major
undeveloped nickel project.
About The Metals CompanyTMC the
metals company Inc. (The Metals Company) is an explorer of
lower-impact battery metals from seafloor polymetallic nodules, on
a dual mission: (1) supply metals for the clean energy transition
with the least possible negative environmental and social impact
and (2) accelerate the transition to a circular metal economy. The
company through its subsidiaries holds exploration rights to three
polymetallic nodule contract areas in the Clarion Clipperton Zone
of the Pacific Ocean regulated by the International Seabed
Authority and sponsored by the governments of Nauru, Kiribati and
the Kingdom of Tonga. More information is available at
www.metals.co.
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Forward Looking Statements
Certain statements made in this press release are not historical
facts but are forward-looking statements for purposes of the safe
harbor provisions under The Private Securities Litigation Reform
Act of 1995. Forward-looking statements generally are accompanied
by words such as “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “plan,”
“predict,” “potential,” “seem,” “seek,” “future,” “outlook” and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from those discussed in the forward-looking statements.
Most of these factors are outside TMC’s control and are difficult
to predict. Factors that may cause such differences include, but
are not limited to: regulatory uncertainties and the impact of
government regulation and political instability on TMC’s resource
activities; changes to any of the laws, rules, regulations or
policies to which TMC is subject; the impact of extensive and
costly environmental requirements on TMC’s operations;
environmental liabilities; the impact of polymetallic nodule
collection on biodiversity in the Clarion Clipperton Zone (CCZ) and
recovery rates of impacted ecosystems; TMC’s ability to develop
minerals in sufficient grade or quantities to justify commercial
operations; the lack of development of seafloor polymetallic nodule
deposit; uncertainty in the estimates for mineral resource
calculations from certain contract areas and for the grade and
quality of polymetallic nodule deposits; TMC’s ability to
successfully enter into binding agreements with each of Epsilon
Carbon and Allseas; risks associated with natural hazards;
uncertainty with respect to the specialized treatment and
processing of polymetallic nodules that TMC may recover; risks
associated with collective, development and processing operations,
including with respect to the proposed plant in India and Allseas’
expected development efforts; fluctuations in transportation costs;
testing and manufacturing of equipment; risks associated with TMC’s
limited operating history; the impact of the COVID-19 pandemic;
risks associated with TMC’s intellectual property; and other risks
and uncertainties, including those in the “Risk Factors” section in
TMC’s Quarterly Report on Form 10-Q for the quarter ended September
30, 2021 filed by TMC with the SEC on November 15, 2021, and in
TMC’s other future filings with the Securities and Exchange
Commission. TMC cautions that the foregoing list of factors is not
exclusive. TMC cautions readers not to place undue reliance upon
any forward-looking statements, which speak only as of the date
made. TMC does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions, or circumstances
on which any such statement is based except as required by law.
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