TMC the metal company (TMC) Newsfilter·2024-12-30 12:30Core Points - The Metals Company (TMC) is focused on exploring and refining polymetallic nodules to produce critical battery metals, including nickel, cobalt, and copper, which are essential for the energy transition [1][3] - Recent legislation signed into law mandates a feasibility study by the Defense Department to assess domestic refining capabilities for nodule-derived intermediates, aiming to enhance U.S. supply chains for critical minerals [5][14] - TMC's U.S. subsidiary has applied for a $9 million grant under the Defense Production Act to support the development of a domestic refinery for these materials [5] Company Overview - TMC operates in the Clarion Clipperton Zone of the Pacific Ocean, holding exploration and commercial rights to three contract areas regulated by the International Seabed Authority [3] - The company aims to supply battery metals with minimal environmental impact and to promote recycling and recovery of these metals for sustainable use [3] Legislative Support - The FY25 National Defense Authorization Act (NDAA) includes provisions for a feasibility study on refining nodule-derived intermediates, reflecting strong bipartisan support for enhancing domestic mineral supply chains [5][11] - Key lawmakers, including Rep. Rob Wittman and Rep. Brad Finstad, emphasize the importance of developing domestic refining capabilities to reduce reliance on foreign sources and enhance national security [6][7] Industry Context - The U.S. is seeking to secure a stable supply of responsibly sourced critical minerals, with a focus on reducing vulnerabilities in its battery supply chains, particularly in nickel refining [14] - The Responsible Use of Seafloor Resources Act has been introduced to support international governance and responsible collection of seafloor resources, indicating a strategic approach to resource management [2][12]