Saturday, October 16, 2021

The Metals Company Provides Business Update as It Advances - GlobeNewswire

Last updated Monday, October 4, 2021 09:08 ET , Source: NewsService

NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) -- The Metals Company (NASDAQ: TMC) (the “Company” or “TMC”), an explorer of the world’s largest estimated undeveloped source of battery metals for EVs, today reaffirmed its development and capital outlook and provided a business update.

Development and Capital Outlook

TMC today reaffirmed its development and capital plan through the third quarter of 2023, when it expects to submit its application to the International Seabed Authority for an Exploitation Contract for its NORI-D contract area in the Clarion-Clipperton Zone (CCZ) of the Pacific Ocean over 1,000 miles off the US western seaboard.

Gerard Barron, Chairman and CEO of The Metals Company, said: “TMC is uniquely positioned at the intersection of three megatrends underpinning the multi-decade green energy transition: electrification, decoupling of supply chains and increased focus on ESG impacts. With the rally in prices for the metals contained in polymetallic nodules and President Biden prominently highlighting the need for more domestic processing and refining of critical minerals like nickel, we expect that the demand for battery metals will continue to grow. We continue building the operational, strategic and scientific foundations we need to unlock our enormous estimated resource with a lighter planetary and social footprint than land-based mining. This momentum, combined with our substantial cash position and world-class strategic partners and investors – including...

Read Full Story: https://www.globenewswire.com/news-release/2021/10/04/2308001/0/en/The-Metals-Company-Provides-Business-Update-as-It-Advances-Plan-to-Unlock-Critical-Battery-Metal-Resource.html

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