Oleblue
5 days ago
TMC Announces Strategic Investment from Korea Zinc — a World-Leader in Non-Ferrous Metal Refining and pCAM Technology — to Advance Development of Deep-Seabed Critical Minerals in the U.S.
by The Metals Company |
Jun 16, 2025
Korea Zinc Co., Ltd., (Korea Zinc) will make a strategic equity investment in TMC of $85.2 million in exchange for 19.6 million common shares at the last market closing price of $4.34 per share
Investment includes a three-year warrant to purchase 6.9 million common shares (0.35 warrant shares for every 1 initial common share) with an exercise price of $7.00 per share, and a participation right to subscribe for future offerings of TMC equity for Korea Zinc to maintain its ownership of common shares, subject to customary exceptions.
A world leader in non-ferrous metal refining and precursor Cathode Active Material (pCAM) technology, Korea Zinc is uniquely positioned to use TMC USA’s nodule-derived materials to produce refined metals, copper foil and pCAM in their existing facilities in South Korea and build new facilities in the United States.
Under an existing LOI with TMC USA, Korea Zinc’s R&D team has received a bulk sample of TMC-supplied nodule material and is currently validating processing and refining pathways and potential synergies through vertical integration.
NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), a leading explorer of the world’s largest undeveloped resource of critical metals essential to energy, defense, manufacturing, and infrastructure, today announced that Korea Zinc, a world leader in non-ferrous metal refining and precursor Cathode Active Material (pCAM) technology, has agreed to make a strategic investment of approximately $85.2 million in the Company through the purchase of common shares and warrants in a private placement.
The investment was approved by TMC’s Board of Directors and is expected to close on June 26, 2025, subject to customary closing conditions. Korea Zinc will purchase 19.6 million common shares at the last market closing price of $4.34 per share and will receive a three-year warrant to purchase 6.9 million common shares (0.35 warrant shares for every 1 initial common share for no additional consideration) with an exercise price of $7.00 per share, subject to compulsory exercise provisions should TMC common shares trade above $10.00 for 20 consecutive trading days. Upon closing, Korea Zinc will become one of TMC’s largest strategic shareholders with ownership of approximately 5% of the Company’s outstanding common shares.
Korea Zinc is currently evaluating a bulk sample of nodule material supplied by The Metals Company USA, LLC (TMC USA) under an existing LOI, with its R&D team to validate intermediate processing and refining pathways and potential synergies through vertical integration. Korea Zinc has expressed interest in working with TMC USA to establish processing, refining and potentially pCAM manufacturing capacity in the United States.
“We’re thrilled to welcome Korea Zinc as a strategic investor and partner on our journey to redefine how the United States sources critical minerals for energy, defense, manufacturing and infrastructure,” said Gerard Barron, Chairman and CEO of The Metals Company. “We believe the strategic fit between the two companies is exceptional: If we receive a commercial recovery permit, TMC USA will be in position to deliver a secure, abundant and low-impact supply of four critical metals under U.S. regulatory oversight. Korea Zinc is probably the only company outside of China that has the capability to take TMC USA’s materials and turn them into metal product formats required in the United States. Together, we have the potential to meet the United States’ demand for refined nickel, cobalt and manganese, and contribute copper while completely by-passing the Chinese supply chain.”
“This is more than capital—it’s alignment on values, on urgency, and on building a resilient supply chain for the United States. With TMC’s robust pro forma cash balance of nearly $120 million, we and Allseas can now turn our attention to preparing the Hidden Gem commercial production system in anticipation of the grant of a commercial recovery permit through the U.S. regulatory framework. We look forward to sharing more detail alongside the expected release of our PFS next quarter.”
The Chairman and CEO of Korea Zinc, Yun B. Choi, commented: “I am bullish on nickel and copper. Korea Zinc’s well-developed growth strategy, a.k.a. Troika Drive, is predicated on that very view. As such, we are excited to be an investor in TMC, who I believe will be one of the most competitive nickel and copper producers in the world.”
“More than that, I am particularly bullish on the opportunity in critical minerals processing capacity in the United States, and with this new partnership between Korea Zinc and TMC, we now can have a relevant position in this market, having a unique platform upon which a reliable and independent nickel supply chain can be built in the United States, serving U.S. companies and consumers.”
Korea Zinc’s investment lays the foundation for an ongoing strategic partnership and comes at a pivotal time for the Company, as TMC USA advances discussions with the National Oceanic and Atmospheric Administration (NOAA) on its commercial recovery permit application under U.S. law and prepares to release a pre-feasibility study (PFS), expected in the third quarter of 2025. On April 24th, 2025, President Trump issued an Executive Order to accelerate seabed mining through expedited permitting, evaluation of offtake rights and stockpiling, and potential federal investment. A few days later, TMC submitted the first-ever application for a commercial recovery permit and applications for two exploration licenses to NOAA under the Deep Seabed Hard Mineral Resources Act of 1980 (DSHMRA).
About TMC
The Metals Company is an explorer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for energy, defense, manufacturing and infrastructure with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing. More information is available at www.metals.co.
About Korea Zinc
Korea Zinc is the world’s leading non-ferrous metal smelting company, processing over 1.2 million tons of 18 different metals annually, including zinc, lead, silver, indium, nickel, cobalt, copper and other critical materials essential to advanced industries. With world-class refining technology and one of the industry’s most advanced environmental management systems, Korea Zinc delivers high-purity metals while minimizing our environmental footprint. Building on this foundation, Korea Zinc is accelerating a so-called Troika Drive, which focuses on three core areas: renewable energy and green hydrogen, secondary battery materials, and resource recycling, and especially a nickel processing plant “All-in-One Nickel refinery” which is currently under construction in Korea and scheduled for completion in Q2 2026. Through this transformation, Korea Zinc is driving the shift towards a circular, low-carbon economy while strengthening global supply chain resilience and creating long-term sustainable value for communities, partners, and our planet.
Contact:
Investors: investors@metals.co
Media: media@metals.co
Forward Looking Statements
This press release contains “forward-looking” statements and information within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable U.S. securities laws. These statements may be identified by words such as “believes,” “could,” “expects,” “may,” “plans,” “possible,” “potential,” “will” and variations of these words or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements with respect to the investment by Korean Zinc in the Company’s the securities, including the timing of the closing and the anticipated gross proceeds therefrom, the potential strategic partnership between the Company and Korea Zinc, the ability for TMC USA to deliver a secure, abundant and low-impact supply of four critical metals under U.S. regulatory oversight, the ability for Korea Zinc to take TMC USA’s materials and turn them into metal product formats required in the United States, the ability for the Company and Korea Zinc to meet the United States’ demand for refined nickel, cobalt, manganese and contribute copper and to by-pass the Chinese supply chain, and the potential upsides in investing in copper and nickel and the expected timing of the Company’s PFS. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things: risks relating to the need to satisfy regulatory and legal requirements with respect to the offering, risks relating to the Company’s ability to satisfy certain conditions to closing for the offering included in the securities purchase agreement on a timely basis or at all, as well as related to market and other conditions, the Company’s future financial performance; the outcome and timing of regulatory reviews by NOAA under DSHMRA; the ability to obtain an exploitation contract from the ISA or permits from the U.S. government; risks related to the Company’s potential dual-path permitting strategy; changes in environmental, mining and other applicable laws and regulations; other regulatory uncertainties and the impact of government regulation or political developments on the Company’s activities; the potential for legal or jurisdictional challenges to the Company’s rights or proposed operations in international waters; environmental risks and liabilities; the Company’s ability to develop sufficient data to support permit applications and satisfy environmental requirements; the Company’s ability to develop commercial operations, including onshore processing capabilities; risks associated with the Company’s limited operating history and need for additional financing; and other risks and uncertainties, any of which could cause actual results to differ from those expressed or implied in the forward-looking statements and the other risk factors that are described in the section entitled “Risk Factors” in the prospectus supplement and the Company’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed on March 27, 2025 and the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 filed on May 14, 2025. Any of such risks could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are based on current expectations and assumptions and reflect the Company’s views as of the date hereof. Any forward-looking statements contained in this press release speak only as of the date hereof, obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.
https://investors.metals.co/news-releases/news-release-details/tmc-announces-strategic-investment-korea-zinc-world-leader-non
OBV looks good and not much resistance to the old high.
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Oleblue
2 months ago
Dear Stakeholders,
April marked a turning point—not just for TMC, but for the future of critical minerals—as the U.S. issued a landmark Executive Order on deep-sea mining and TMC submitted the world’s first commercial application to recover polymetallic nodules under U.S. law.
This submission—covering a commercial recovery permit and two exploration licenses—represents a major step forward for the industry. We’re applying over ground we know well, supported by decades of research, offshore campaigns, environmental studies, and SEC-compliant Technical Resource statements.
With this foundation, TMC USA offers a shovel-ready pathway to unlock critical minerals vital for U.S. energy, infrastructure, and defense. We welcome NOAA’s fair, flexible, and transparent regulatory approach, and look forward to contributing to its NEPA-compliant Environmental Impact Statement development.
We believe that the impacts are minimal, manageable, and the start of responsible operations is fast approaching.
Kind regards,
The Metals Company
World First: TMC USA Submits Application for Commercial Recovery of Deep-Sea Minerals in the High Seas Under U.S. Seabed Mining Code
Following last week’s?Executive Order, ‘Unleashing America’s Offshore Critical Minerals and Resources’,?TMC USA submitted applications to the National Oceanic and Atmospheric Administration (NOAA) for two exploration licenses and one commercial recovery permit under the Deep Seabed Hard Mineral Resources Act (DSHMRA) and NOAA implementing regulations which form the U.S. seabed mining code.
Read the Press Release
TMC Welcomes U.S. Executive Order to Expedite Permitting and Evaluate Offtake of Critical Minerals from Nodules in the High Seas
On April 25, 2025, President Trump signed the Executive Order 'Unleashing America’s Offshore Critical Minerals and Resources', a major step toward securing domestic supplies of seabed-derived critical minerals. The order directs the Commerce Secretary to fast-track permitting under DSHMRA, the U.S. law passed in 1980.
It also calls on the International Development Finance Corporation, Export-Import Bank, and Trade and Development Agency to explore support tools for the industry. The Departments of Defense and Energy are tasked with evaluating nodule procurement for the National Defense Stockpile, reviewing domestic processing capacity, and assessing use of the Defense Production Act.
The order further directs a joint assessment—led by Commerce, State, Interior, and Energy and in coordination with allies—on the feasibility of a seabed benefit-sharing mechanism.
TMC CEO Testifies In Congress
TMC CEO Gerard Barron recently testified in front of the House Natural Resources Oversight and Investigations Subcommittee on “Exploring the Potential of Deep-Sea Mining to Expand American Mineral Production”. Gerard highlighted the abundant, unattached polymetallic nodule resource as a platform to secure new supplies of critical minerals essential for U.S. infrastructure, defense, energy, and technology—and to drive reindustrialization across shipbuilding, port infrastructure, minerals processing, and manufacturing
Gerard told lawmakers, “With seabed minerals, America can end critical mineral dependence; reclaim leadership in offshore innovation; inspire generations of American engineers, scientists, and mariners; and create over 100,000 American jobs and generate over $300 billion in GDP.”
Gerard also directed the Committee to his written submission “for a detailed rebuttal of common environmental myths used to confuse the public.”
Rutger Bosland, Pioneering Engineer and Technical Lead on Development of TMC’s Nodule Collection System, Joins Company to Drive Commercial Readiness
On April 15, 2025, we announced that Rutger Bosland, the engineer and technical lead who oversaw the design, build, and successful test deployment of Allseas’ integrated nodule collection system, had joined the Company as Chief Innovation and Offshore Technology Officer (CIOTO). Rutger will lead offshore innovation and efforts to scale our technologies for commercial production. He brings world-class expertise in deep-sea mining, naval architecture, and offshore operations to TMC, having led a team of 80+ engineers in developing TMC’s pilot nodule collection system, and Allseas’ program to scale up nodule collection technology in preparation for TMC’s commercial operations.
Roland Berger: Deep-sea mining – A Promising Critical Mineral Solution
A new report by consultancy firm Roland Berger finds deep-sea mining “offers major advantages over terrestrial mining “from a strategic, economic and environmental perspective. With deep-sea minerals expected to have a significant impact on supply and demand for numerous minerals, the report argues “countries and companies dependent on critical minerals should review their stance on deep-sea mining and consider stronger engagement to de-risk their supply chains."
The Economist – Donald Trump is Right to Go After Metals in the Deep Sea
The Economist has long been a trusted source for Presidents and global leaders alike — when it speaks, people listen. The latest Leader, the paper’s second article on deep-sea mining in a week, is a standout example of quality, independent journalism.
"There is a strong argument that deep-sea collection will be better for the environment than mining on land. It will cause the release of less carbon dioxide and it will do less harm to rare species and precious habitat."
The Economist – A Trump Executive Order Will Unleash a Global Deep-sea Mining Boom
The Economist notes how the recent Executive Order provides the U.S. with an invaluable opportunity to regain its leadership in deep-sea mining and pave the way for responsible operations to begin.
“And the ISA, despite years of effort, is little closer to coming up with its own mining rules. Here, a growing number of policymakers and executives now say, is a chance for America to take back the initiative and help shape the international rules of the coming seabed boom.”
New York Times – Days After Trump Commits to Seabed Mining, Two Sides Face Off
The New York Times published a good write up of the recent Congressional hearing and highlighted comments from Dr Thomas Peacock, Director of the Environmental Dynamics Laboratory?at MIT and a leading expert on the behaviour of sediment plumes, who stated that “research indicates that some of the proposed impacts of nodule mining may not be as severe as speculated”, and that sediment plume concentrations were “roughly the equivalent of a grain of sand in a fishbowl.”
Gerard Barron Speaks with Bloomberg TV
Gerard recently sat down with Alix Steel at Bloomberg for a live television interview in which he discussed America’s return to leadership in deep-sea mining since first pioneering the industry in the 1970s, and to the extensive research that has been carried out by NOAA and private contractors like TMC in the decades since. Backed by decades of environmental research and with three NOAA applications now submitted, it's time for responsible operations to begin.
This document contains links to third-party websites that are not owned or controlled by The Metals Company. The Metals Company has no control over, and assumes no responsibility for the content, privacy policies, or practices of any third-party websites, and does not adopt the disclosure on these websites as its own. You acknowledge and agree that The Metals Company shall not be responsible or liable, directly, or indirectly, for any damage or loss allegedly caused by any content available on or through third-party websites, including any statements or information used or relied upon from these third-party websites. We strongly advise you to read the terms and conditions and privacy policies of any third-party websites that you visit.
Copyright © 2024 The Metals Company, All rights reserved.
Our mailing address is:
The Metals Company
1111 West Hastings St
15th Floor
Vancouver, BC V6E 2J3
Canada
The Metals Company is committed to supplying lower impact metals for renewable energy and electric vehicle batteries.
https://mailchi.mp/61a004d8bfff/tmc_april25_update-12885631?e=d301df9fff
Long term chart is looking good. Breakout of $3 has no resistance until it reaches $10.
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