Business
The Metals Company Announces Second Quarter 2025 Corporate Update
NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC”, the “Company” or “we”), a leading developer of the world’s
About this update from Tmc The Metals Company Inc.
[{"type":"text","content":"NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC”, the “Company” or “we”), a leading developer of the world’s largest estimated undeveloped resource of critical metals essential to energy, defense, manufacturing and infrastructure, today provided a corporate update and second quarter results for the period ending June 30, 2025. Q2 2025 Financial Highlights Total cash of approximately $115.8 million at June 30, 2025 $10.6 million cash used in operations for the quarter ended June 30, 2025Operating loss of $22 million, net loss of $74.3 million and net loss per share of $0.20 for the quarter ended June 30, 2025 NOAA Confirms Full Compliance of TMC USA’s Exploration License Applications On August 11, 2025, TMC USA received notice of full compliance from the National Oceanic and Atmospheric Administration (NOAA) on its exploration applications, and reconfirmation that TMC USA has priority right over both exploration areasBoth applications entered the certification stage in late July, which we expect to be approximately 100 daysThe news follows earlier determinations of substantial compliance in May 2025, demonstrating a systematic regulatory process under the Deep Seabed Hard Minerals Resources Act (DSHMRA) as the Company targets Q4 2027 production start TMC Releases Two Economic Studies with Combined NPV of $23.6B and Declares World-First Nodule Mineral Reserves On August 4, 2025 TMC published two SEC S-K 1300-compliant technical report summaries highlighting a total combined Net Present Value (NPV) of $23.6 billion, showing potential economic viability of its NORI-D Project and significant potential scalability across other NORI and TOML areas Pre-Feasibility Study World-first Pre-Feasibility Study (PFS) for a polymetallic nodule project in the NORI-D area with an NPV1 of $5.5 billion The PFS Technical Report Summary marks a world-first declaration of Mineral Reserves for a polymetallic nodule project with 51 million tonnes (Mt) of probable mineral reserves;Measured, indicated and inferred mineral resources exclusive of mineral reserves of 274 Mt of wet nodules, for which we expect to conduct additional detailed survey and mine planning;In light of recent U.S. regulatory developments, TMC expects to commence commercial production from the NORI-D Area in the fourth quarter of 2027 if we re...