Business
The Metals Company Releases Two Economic Studies with Combined NPV of $23.6B and Declares World-First Nodule Reserves
TMC published two technical economic assessments prepared in accordance with Subpart 1300 of Regulation S-K highlighting a total combined project value of $23.6
About this update from Tmc The Metals Company Inc.
[{"type":"text","content":" TMC published two technical economic assessments prepared in accordance with Subpart 1300 of Regulation S-K highlighting a total combined project value of $23.6 billion, showing potential economic viability of its NORI-D Project and significant scalability across other NORI and TOML areas World-first Pre-Feasibility Study (PFS) for a polymetallic nodule project in the NORI-D area with a Net Present Value (NPV) of $5.5 billion The PFS Technical Report Summary (TRS) 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 reserves of 274 Mt of wet nodules are expected to provide an additional 113 Mt of recoverable nodules once detailed survey and mine planning is complete; In light of recent U.S. regulatory developments, TMC expects to commence commercial production in the fourth quarter of 2027 if we receive a commercial permit before scaling to an average targeted annual production rate of 10.8 million tonnes of wet nodules per annum (Mtpa) at steady state (2031 through 2043) production, with an expected 18-year life of mine (LOM); Expected annual steady state production rate of 97 kilotonnes per annum (ktpa) nickel, 2,389 ktpa manganese, 70 ktpa copper and 7.4 ktpa cobalt Expected low first quartile cost of production with cash costs of $1,065 per tonne of nickel including byproduct credits and All-In Sustaining Costs (AISC) of $2,569 per tonne of nickel including byproduct credits Projected after-tax NPV of $5.5 billion and After-tax Internal Rate of Return (IRR) of 27% Steady state average EBITDA margin of 43% New Initial Assessment details the economic potential of the rest of the 1.3 billion tonne resource across the NORI and TOML areas (excluding NORI-D) and a total estimated resource Net Project Value of $18.1 Billion Projected After-tax NPV of $18.1 Billion and IRR of 36% Projected steady state (2039 through 2058) average EBITDA margin of 57% NEW YORK, Aug. 04, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC), a leading developer of the world’s largest estimated undeveloped resource of critical metals essential to energy, defense, manufacturing and infrastructure, today announced the release of a Technical Report Summary (TRS) of the Pre-Feasibilit...