Friday, October 14, 2022

"Deep-sea miner stock jumps after first seafloor collection since 1970s" (TMC)

We got interested in this one in 2012 when Glencore entered into a takeoff agreement.

Then in 2018 Maersk said they were supplying a support vessel.

And in 2020 Allseas came aboard.

Here's the latest on the corporation formerly known as DeepGreen:

From Mining.com October 12:

Shares in The Metals Company (NASDAQ: TMC) jumped on Wednesday after the company said it completed its first collection run of polymetallic nodules more than four kilometres below the surface of the Pacific ocean. 

The Vancouver-based company said its production vessel, the Hidden Gem, collected an initial batch of  seafloor nodules and transported it up a 4.3km-long riser system to the surface, “in what represents the first integrated system test conducted in the Clarion Clipperton Zone of the Pacific Ocean since the 1970s.”

TMC said 130 crew and engineers piloted the collector vehicle, designed by partner Allseas, 147 metres in one hour on a pre-determined path and collected 14 tonnes of nodules. 

Last month, TMC’s subsidiary Nauru Ocean Resources Inc (NORI) received the go-ahead from the International Seabed Authority to start the pilot project with the aim of collecting approximately 3,600 tonnes of nodules containing nickel, cobalt and manganese before the end of the year: 

“Upon completion of the trials, which require the coordination of 250 people across three vessels, the research teams will undertake post-collection surveys to compare the status of the environment before and after the test....

....MUCH MORE including video

Some of our posts on TMC:
January 2022
"The Seabed Solution: After 150 years, is the time finally right for deep-ocean mining?
July 2021
"Why Nauru Is Pushing the World Toward Deep-Sea Mining"
April 2021
Wannabe Seabed Miner DeepGreen Has Entered Into An Agreement To Come Public Via SPAC (SOAC)
January 2021
"With valuable metals on the ocean floor, speculators are circling"

And a dozen or two more, most linked in the above posts or, if interested, use the 'search blog' box, upper left.