Industry News

The Metals Company to Start Deep Water Tests in Early 2022

According to a report by S&P Global Platts, The Metals Company (TMC) is planning to begin harbor tests and deep-water tests in the North Atlantic in the first quarter of 2022.

The Canadian battery metals developer is exploring the world’s largest known deposit of deep-sea polymetallic nodules in the Clarion Clapperton Zone (CCZ) in the Pacific Ocean. These nodules contain nickel, cobalt, copper, and manganese, important raw materials for battery production, which is collected and processed with little solid processing waste or tailings. The end-to-end production cycle, according the TMC, produces 90% less carbon dioxide emissions than onshore mining.

The company is planning to begin production in 2024, once the International Seabed Authority (ISA) has issued a comprehensive set of rules, regulations, and procedures to regulate prospecting, exploration, and exploitation of marine minerals in international waters (also known as the “Mining Code”). The deadline for the finalized Mining Code is Q3 of 2023.

The first project, NORI-D, will include one collector robot and one converted drill ship. (Link to ALL-Sea story). Once in full production, the project is forecast to harvest 119,000 mt/year of nickel, 2.8 million mt/year of manganese, 89,000 mt/year of copper and 9,000 mt/year of cobalt.

For the full story and shareholder agreement information, visit here.  

Image

All views and opinions expressed on this website are those of the credited authors and contributors and do not necessarily reflect the official policy, position or opinion of any other agency, entity, organization or employee, affiliated or not. Oceanminingitnel.com is not responsible for the misuse or reuse of any of the content presented.