TMC the metals company Inc.

About

The Metals Company, originally founded as DeepGreen Metals in 2011, became a public company in 2021 to enhance its nodule collecting and processing capabilities. The company focuses on producing base metals from polymetallic nodules found in the Clarion Clipperton Zone of the Pacific Ocean, aiming to provide essential raw materials for energy, infrastructure, and manufacturing while minimizing environmental impact through innovative metallurgical processes.

Verified company data

Cash position

$3.43

Shares outstanding

441,135,482

Mineral resource

In 2011, the International Seabed Authority (ISA) granted a polymetallic nodule exploration contract in the Clarion Clipperton Zone (CCZ) to NORI, sponsored by the government of the Republic of Nauru. Since then, in close partnership with Nauru and working with leading researchers and institutions, NORI has progressed with a comprehensive seabed-to-surface research program in one of its designated areas, NORI-D. Representing 22% of The Metals Company’s estimated resource in the CCZ, the NORI license area is ranked as having the largest undeveloped nickel deposit in the world.

Projects

["NORI-D Project – Nauru Ocean Resources Inc.\n\nNauru Ocean Resources, Inc., is a wholly-owned subsidiary of The Metals Company.\n\nIn 2011, the International Seabed Authority (ISA) granted a polymetallic nodule exploration contract in the Clarion Clipperton Zone (CCZ) to NORI, sponsored by the government of the Republic of Nauru. Since then, in close partnership with Nauru and working with leading researchers and institutions, NORI has progressed with a comprehensive seabed-to-surface research program in one of its designated areas, NORI-D. Representing 22% of The Metals Company’s estimated resource in the CCZ, the NORI license area is ranked as having the largest undeveloped nickel deposit in the world.\n\nKey Project Milestones\n\nSince 2012, NORI has completed 22 offshore research campaigns to define the nodule resource, develop an environmental baseline of the NORI-D area, and monitor the impacts of the pilot collection system test it conducted in 2022. In collaboration with independent scientists and expert industry contractors, NORI has gathered a wide range of meteorological and oceanographic measurements and data, including on biodiversity, deep-sea food chains, ecosystem function, geochemistry, and nutrient cycles. NORI expects to submit an application to the ISA for an exploitation contract for NORI-D prior to the ISA’s March 2025 session.\n\nBelow, our current progress report:\n\nCOMPLETED: Sponsorship Agreement\n\nCOMPLETED: Exploration Contract\n\nCOMPLETED: SK1300 NORI Technical Resource Statement; SK-1300 NORI-D Project Initial Assessment (PEA) (Excel tables)\n\nSUBMITTED: Collector Test Environmental and Social Impact Assessment\n\nAPPROVED: Pilot Nodule Collector System Test\n\nCOMPLETED: Pilot Nodule Collector System Test\n\nCOMPLETED: Collector Test and Monitoring\n\nJune 27, 2025: Exploitation contract application submission expected\n\nRegulatory Context: UNCLOS and ISA\n\nExploration and exploitation of seabed minerals in international waters (The Areas Beyond National Jurisdiction – often referred to as “The Area”) is regulated by the International Seabed Authority (ISA). It is an autonomous intergovernmental organization enabled by the 1994 Agreement Relating to the Implementation of the United Nations Convention on the Law of the Sea (UNCLOS) (the 1994 Agreement).\n\nHeadquartered in Jamaica, ISA organizes and controls all mineral-resources-related activities in “The Area” (where UNCLOS applies) for the benefit of humankind. This also means that the ISA does not organize, regulate or control onshore facilities or activities which fall within the jurisdiction of their host countries. The ISA is financed and governed by 167 Member States and the European Union.\n\nThe ISA has issued a total of 19 polymetallic nodule exploration contracts covering approximately 1.28 million km2, or 0.4 percent of the global seafloor. Of these contracts, 17 are located in the CCZ, which has a width comparable to the continental USA. Three of the contracts in the CCZ are affiliated with TMC, which includes NORI.\n\nSponsoring State: The Republic of Nauru\n\nNauru is an island nation located in the South Pacific, it’s fringed by a coral reef that acts as the island’s main defense from rising sea levels. Colonial exploitation of Nauru’s rich phosphate reserves created a legacy of environmental degradation that left the entire interior of the island uninhabitable and unsuitable for agriculture. As a result of this legacy, Nauru is dedicated to ensuring that future extractive activities are done responsibly. Nauru is a party to UNCLOS and a member of the ISA whose mandate is to organize, regulate and control mineral-related activities in the international seabed area for the benefit of humankind. The country has implemented legislation that governs its participation in this industry, and is the first sponsoring state to access the developing state land bank in an effort to diversify its economy and contribute to the transition to clean energy.\n\nStakeholder Engagement & Consultation\n\nNORI is committed to open and transparent stakeholder engagement to ensure that we operate in a socially and environmentally responsible manner.\n\nThe following principles inform NORI’s stakeholder engagement:\n\n- Proactive engagement and listening: We seek and welcome diverse thoughts, opinions, and experiences to help us make better decisions and outcomes.\n- Accessibility: We are committed to reducing barriers to participation and will offer a variety of channels and methods to encourage equitable engagement.\n- Responsiveness: We will consider, respond, and incorporate stakeholder feedback where we can and if not possible, explain why. We will be clear about how we incorporate feedback into our planning and decision making.\n- Transparency: We are transparent – we are open, true, and direct with stakeholders about our company, operations, and decisions and provide accurate information. We are committed to providing opportunities for external monitoring.\n- Grievances: We ensure that there is an accessible and responsive means for stakeholders to raise concerns and grievances about the project through its life.\n- Reporting: We track, measure and report on our stakeholder performance to learn, adapt and improve our approaches.\n\nEnvironmental and Social Impact Assessment\n\nIn international waters far from human communities, the NORI-D Polymetallic Nodule Project presents a fascinating challenge for the development of a Social Impact Assessment (SIA). We are delighted to partner with Prizma LLC, an independent ESG, impact assessment and sustainability advisory practice with deep experience in natural resources.\n\nOn May 5th, 2022, NORI co-hosted with Prizma LLC a scoping workshop in Vancouver, BC, to explore the fascinating challenge of developing a Social Impact Assessment (SIA) for NORI-D. We will offer additional opportunities to engage on the SIA and related work over the coming months and will update this page as more information becomes available.\n\nNORI-D SIA Updates\n\nScoping study and Stakeholder Consultation for the Social Impact Assessment\n\nAs part of NORI’s Environmental and Social Impact Assessment, we engaged Prizma LLC to undertake an independent Social Impact Assessment (SIA) of the NORI-D Nodule Collection Project. On December 15, 2022, the SIA Scoping Document was published for public comment. Following an open and transparent public disclosure and consultation process, we are pleased to publish the Scoping Report and Engagement Record for the NORI-D SIA to summarize the process and comments received as well as responses provided. Following the release of the study as well as stakeholder consultation, we are also pleased to share the resulting Terms of Reference for the impact assessment phase.\n\nNORI is planning additional engagement activities to meet and hear from stakeholders. This will include a side event at the session of the ISA Council in Kingston on March 28, 2023, as well as a webinar to summarize the scoping and planned meetings with Pacific stakeholders in April/May (dates TBC). We hope to see you there and, in the meantime, we hope you will consider the materials below.\n\nDownload: Scoping Report and Engagement Record for the Social Impact Assessment for the NORI-D Nodule Collection Project\n\nDownload: Terms of Reference for the NORI-D SIA\n\nNORI Collector Test Campaign Updates\n\nStakeholder Consultation for the NORI Collector Test Environmental Impact Statement (EIS)\n\nThe Republic of Nauru, as the Sponsoring State to Nauru Ocean Resources Incorporated (NORI), invited all stakeholders with an interest in NORI’s upcoming Collector Test Campaign and the collection of deep-sea nodules to participate in a consultation process and two-part stakeholder community webinar series beginning Fall 2021 and concluding Spring 2022.\n\nThe goal of the stakeholder consultation process was to provide the stakeholder community — citizens of the Republic of Nauru, scientists, government and non-governmental officials, industry representatives, and other interested members of the public — with the opportunity to discuss, review, comment, and guide revisions to the NORI Collector Test EIS received by the International Seabed Authority. Stakeholder consultation is recommended by the ISA’s Legal and Technical Commission. The Republic of Nauru committed to a process that was transparent, inclusive, and efficient, and benefitted from receiving the diverse knowledge and perspectives of the stakeholder community during the consultation process.\n\nStakeholder Webinar Series\n\nDuring the first stakeholder community webinar, participants were introduced to the planned Collector Test Campaign and EIS as well as the stakeholder consultation process. Following the close of public comment on Friday, November 19, 2021, stakeholders were encouraged to join a second webinar on Monday, March 7, 2022 to receive a high-level summary of feedback received from the stakeholder community and revisions to the EIS. Webinars were convened using Zoom and recorded.\n\nPlease read the stakeholder consultation summary report (which can be downloaded below) for a detailed understanding of the Republic of Nauru’s stakeholder consultation process for the NORI Collector Test campaign EIS. This report includes information about the topics of discussion during the webinar series and participation of stakeholders in the consultation process.\n\nStakeholder Consultation Process & Comment Period\n\nStakeholders were asked to submit written comments by Friday, November 19, 2021. Public comments were not accepted after the deadline and in any other form unless an agreement was reached before the deadline. The Republic of Nauru received 19 public comment submissions with over 600 stakeholder comments on the EIS by the end of the public comment period. Public comment submissions and a summary of NORI’s responses to comments were shared with the ISA in March 2022.\n\nInformation on NORI Collector Test Campaign & Environmental Impact Statement\n\nThe EIS describes NORI’s plans to test a polymetallic nodule collector system in the NORI-D lease area of the eastern Clarion Clipperton Zone of the Pacific Ocean, between Hawaii and Mexico. The proposed 60-day Collector Test is a key part of NORI’s Environmental and Social Impact Assessment (ESIA) process. The one-fifth scale Prototype Collector Vehicle will collect polymetallic nodules from the seafloor at a depth of 4,000-5,500 meters.\n\nOn the 7th of September 2022, The Metals Company announced that the International Seabed Authority completed its review of the EIS and EMMP submitted by NORI and recommend that it proceed with the collector test and is anticipated to conclude by end of Q4 2022. During the Collector Test, the performance of the system and the ecological and environmental conditions will be monitored. The scientific, environmental, and engineering data collected and lessons learned during the Collector Test will increase understanding of the performance of the technology and potential effects on the deep-sea ecosystem."]

Leadership

Gerard Barron (CEO & Chairman, Co-Founder, Chairman, and CEO of The Metals Company since 2017. A seasoned entrepreneur with experience in battery manufacturing, media, technology, and resource development.), Anthony O’Sullivan (Chief Development Officer, Over 30 years of mining experience with a track record of delivering innovative solutions across multiple continents. Former COO of Nautilus and part of BHP Billiton's Global Exploration Leadership Team.), Greg Stone (Chief Ocean Scientist, Ocean scientist and explorer with over 10,000 dives. Known for his work on sustainable fishing and aquaculture, and has received numerous accolades including the National Geographic Hero award.), Craig Shesky (Chief Financial Officer, Over 15 years of experience in public investing and metals research. Former senior analyst at King Street Capital Management.), Andy Jones (Chief Technology Officer, Over 30 years in technology and software development, specializing in large-scale applications. Previously worked at Pavilion Health and AdStream.), Erika Ilves (Chief Strategy Officer, Entrepreneur and strategy lead with experience in robotics and green economy transitions. Formerly with McKinsey & Company and TANDBERG.), Rutger Bosland (Chief Innovation and Offshore Technology Officer, Project Manager with extensive experience in deep-sea mining and heavy lift engineering. Led the development of TMC’s nodule collection system.), Claude Plourde (Chief Accounting Officer, CPA with almost 25 years of global mining experience. Responsible for financial reporting compliance and internal controls.), Ryan Coombes (General Counsel and Corporate Secretary, Over 15 years of legal experience in the mining industry across multiple jurisdictions. Focused on corporate and commercial law.), Jeffrey Donald (Head of Onshore Development, Over 20 years of experience in mining and metallurgy, specializing in project development and strategic projects.), Grant Lindner (Project Director, Extensive experience in delivering complex resource projects with a focus on safety and efficiency.), Michael Clarke (Environmental Manager, PhD in environmental management with over 25 years of experience in impact assessment and marine biology.), Corey McLachlan (Head of Regulatory Affairs and Sponsoring States, Experienced community and social performance manager with a background in government and mining.), Kristin Hengstebeck (Director of Business Development, Seasoned strategist in energy materials and market analysis, previously with Edison Energy.), Lesi Olsson (Country Manager - Nauru, Veteran public servant with decades of experience in Nauru's government and mining industry.), Claire Dalgleish (Offshore Technical Lead, Benthic ecologist with over 25 years of experience in offshore surveys and environmental monitoring.), Agnes Schaffer (Director, Financial Planning and Projects, Finance professional with over 20 years of experience in mining and public accounting.), Adam LeBrocq (EIS Editor, Professional editor with over 11 years of experience, specializing in clear communication and environmental impact statements.), Dan Porras (Head of Communications and Brand, Over 15 years of experience in international development and media ventures.), Rory Usher (Senior Communications Manager, Over 4 years of experience in public relations and communications, with a focus on political communications.), Rachel Houmphan (Social Impact and Stakeholder Engagement Lead, Experienced in sustainable social performance outcomes in the mining industry.), Matt Boulby (Onshore Engineering Project Coordinator, Metallurgy expert with experience in gold projects and environmental impact solutions.), Patrick Downes (Environmental Scientist, PhD in Marine Biogeochemistry with expertise in marine research and ecology.), Sandra Plazas (Accounts Payable Specialist, Over 10 years of experience in accounts payable management and financial reporting.), William Li (Director of Business Development, Asia Pacific, Senior manager with over 20 years of experience in the minerals and mining industry.), Muimui N. Lino (Country Manager - Tonga, 20 years of experience in administration and finance with a focus on community projects.), Lisa Cook (Nauru Program Administrator, Strong managerial experience with a background in community and stakeholder engagement.), Patrick Clarke (Offshore Engineering Manager, Engineer with a focus on operational and project management in environmental and resource undertakings.), Nicolas Moureau (Sustainability Consultant, Over 10 years of experience in sustainability strategy and ESG reporting.), Jordan Gailey (People & Business Manager, 12 years of experience in operational leadership roles in major projects.), Adam Price (Project Controls Manager, 15 years of experience in Project Controls & Analysis.)

Verified data last updated: 2026-10-09