TMC the metals company Inc.

The Metals Company, formerly known as DeepGreen Metals, is a Canadian deep-sea mining exploration company headquartered in Vancouver, British Columbia. Established in 2011, its core business revolves around the exploration and eventual collection of polymetallic nodules from the Clarion Clipperton Zone (CCZ) of the Pacific Ocean. The company's mission is to supply critical metals for the clean energy transition with minimal environmental and social impact, aiming to accelerate the shift towards a circular metal economy.

The company's primary offering is the raw material found in polymetallic nodules, which are rich in nickel, copper, cobalt, and manganese. These metals are essential for the production of electric vehicle (EV) batteries, renewable energy systems, and other industrial applications. The Metals Company is developing the technology and processes required to collect these nodules from the seafloor and partner with onshore refiners to convert them into battery-grade metals, targeting the growing EV and clean energy sectors.

In recent news, on May 1, 2026, the U.S. National Oceanic and Atmospheric Administration (NOAA) determined that The Metals Company USA's consolidated deep-seabed mining application is in full compliance with federal requirements, marking a significant step toward commercial operations. The company anticipates regulatory processes to conclude by the first quarter of 2027, with commercial production targeted for the fourth quarter of 2027. Led by CEO and Chairman Gerard Barron, The Metals Company is positioned as a key player in the emerging deep-sea minerals market, despite being a pre-revenue company whose financial engine is built on the future sales of extracted metals. The company has faced scrutiny and environmental concerns from various organizations regarding the potential impacts of deep-sea mining.

Latest updates

NOAA Compliance Boosts TMC's Deep-Sea Mining Permit Timeline

Event summary

  • NOAA has determined The Metals Company’s (TMC) consolidated deep-seabed mining application is in full compliance, following a prior ‘substantial compliance’ assessment in March 2026.
  • The consolidated application covers a 65,000 km² area in the Clarion Clipperton Zone (CCZ), up from 25,000 km² in the initial application, representing an estimated 619 million tonnes of wet nodules.
  • The application combines exploration and commercial recovery permits, leveraging NOAA’s new regulatory framework to expedite the permitting process.
  • TMC anticipates a permit decision by the end of Q1 2027, moving the application into the certification and public comment phases.

The big picture

TMC’s progress represents a pivotal moment for the nascent deep-sea mining industry, which faces increasing scrutiny regarding environmental impact and governance. The company’s success in navigating the U.S. regulatory framework could set a precedent for other deep-sea mining ventures, but also highlights the challenges in balancing resource demand with ecological preservation. The scale of the resource base – 619 million tonnes – positions TMC as a potential major supplier of critical metals, but its viability remains contingent on regulatory approval and public acceptance.

What we're watching

Regulatory Scrutiny
The public comment period following NOAA’s certification will be crucial; significant opposition could delay or alter the permit conditions, impacting TMC’s timeline and operational plans.
Environmental Impact
The final Environmental Impact Statement (EIS) will be a key indicator of potential long-term operational restrictions and the level of public and investor acceptance of deep-sea mining.
Execution Risk
TMC’s ability to meet the aggressive Q1 2027 permit deadline hinges on NOAA’s efficiency and the absence of unforeseen complications during the certification and EIS finalization phases.
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