Metals Company Shares Jump 30% After NOAA Certifies 1.02B Tonne License
TMC•The Metals Company secured NOAA certification for its USA B exploration license, enabling preparation of an Environmental Impact Statement for mining activities. The 122,000 km² license holds an estimated 1.02 billion tonnes of polymetallic nodules rich in nickel, cobalt, copper, manganese and rare earths, prompting a nearly 30% share jump.
1. NOAA Certification Milestone
The Metals Company received formal certification from NOAA for its USA B exploration license, allowing the agency to start preparing an Environmental Impact Statement and proposed operating conditions for deep-sea exploration activities.
2. Vast Polymetallic Nodule Resource
The 122,000 square kilometer license area contains an estimated 1.02 billion tonnes of polymetallic nodules rich in nickel, cobalt, copper, manganese and rare earth elements critical to energy, defense and manufacturing sectors.
3. Market Reaction and Sentiment
Shares of The Metals Company jumped nearly 30% on the certification announcement, with retail sentiment turning bullish and the stock up roughly 34% over the past year.
4. Next Steps in Approval Process
NOAA will publish a notice of intent to begin the EIS process, release a draft EIS for public comment, and finalize the environmental assessment before deciding on the exploration license.
