Business
The Metals Company Engages Bechtel to Support NORI’s Commercial Contract Application for NORI–D Nodule Project
Bechtel will collect and compile the techno-economic studies undertaken by NORI’s partners and contractors required to support its exploitation contract
About this update from Tmc The Metals Company Inc.
[{"type":"text","content":"Bechtel will collect and compile the techno-economic studies undertaken by NORI’s partners and contractors required to support its exploitation contract application to the International Seabed AuthorityData generated by NORI and its partners during the nodule collection system test and monitoring campaign completed in the NORI-D area in December 2022 will form the basis of the techno-economic studies and environmental and social impact assessment that will support NORI’s exploitation contract application NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) -- The Metals Company (Nasdaq: TMC) (the “Company” or “TMC”), an explorer of the world’s largest estimated undeveloped source of critical battery metals today announced that Bechtel Australia Pty Ltd (Bechtel), a global leader in engineering, procurement and construction will collect and compile the techno-economic studies prepared by various consultants required for NORI to lodge its application for an exploitation contract for its NORI-D Project with the International Seabed Authority (ISA). Well known for producing large-scale civil infrastructure, mining, power and telecommunications projects around the world, Bechtel’s scope of work is to collect and compile technical and economic studies prepared by various consultants that will underpin NORI’s application to the ISA for an exploitation contract, which the Company expects to have ready for submission in the second half of 2023. NORI’s strategic partner, Allseas, will undertake the offshore nodule collection, lifting and transport operations for Project Zero in the NORI-D Area using a pilot collection system upgraded into an early commercial production system with a planned production capacity of over one million wet tonnes of nodules, based on operational and environmental data collected during the 2022 pilot trials program. Gerard Barron, Chairman and CEO of The Metals Company, said: “We are excited to have a company with the proven capabilities of Bechtel involved in our NORI-D project. We look forward to working together and drawing on Bechtel’s extensive experience in mining projects so that NORI can deliver a first-of-its kind exploitation contract application to the ISA and ultimately bring this important resource of energy transition metals online in a responsible way.” Ailie MacAdam, President of Bechtel’s global Mining and...