About this episode
In today’s update on The Metals Company (NASDAQ: TMC), Howard and Rodney sit down with CFO Craig Shesky to review the company’s latest regulatory and permitting developments and what they mean for the path to commercial production.
Chapters
(00:00) Introduction
(03:37) New NOAA Rules
(06:38) Larger Mining Area
(10:29) Metal Prices And Outlook
(12:59) CEO House Hearing
TMC has filed what it describes as the first consolidated U.S. application with NOAA, combining both exploration and commercial recovery into a single process. Management views this updated framework as a way to streamline permitting, reduce duplication, and potentially shorten timelines — effectively de-risking the project from a regulatory standpoint.
At the same time, the company has expanded its initial commercial recovery area from ~25,000 km² to ~65,000 km², increasing the defined and anticipated nodule resource from roughly 360 million tonnes to more than 800 million tonnes across a contiguous zone. We discuss what this larger footprint means in practical terms — not just headline scale, but operational sequencing, environmental data requirements, and how management is thinking about ramp-up.
Topics covered include:
• NOAA’s updated deep-seabed mining rules and consolidated application pathway
• What “de-risking through permitting” actually means
• Expansion of the commercial recovery area (25,000 → 65,000 km²)
• Resource growth (360Mt → 800+ Mt nodules)
• Pre-feasibility study assumptions and economics
• Metal price sensitivity (nickel, copper, cobalt, manganese)
• The broader U.S. mineral security and supply chain context
For viewers new to the story, The Metals Company is a deep-sea minerals developer focused on collecting and processing polymetallic nodules containing nickel, copper, cobalt, and manganese — materials used in electrification and battery supply chains.
At the end of the video, we’ve appended recent clips of CEO Gerard Barron’s testimony before the U.S. House, where he outlines the strategic role deep-sea nodules may play in domestic critical mineral supply.
Sponsors
- Lithium Royalty Corp (TSX: LIRC) - diversified lithium royalty portfolio.
(Website: https://www.lithiumroyaltycorp.com/ | X: https://x.com/Lithium_Royalty)
- USCF Investments - commodity-focused ETFs (e.g., CPER copper, ZSB battery metals, USG gold, SDCI diversified commodities).
(Website: https://www.uscfinvestments.com/ | X: https://x.com/USCFInvestments)
Links
- Strategic Lithium Reserve (SLR) White Paper: https://blog.rkequity.com/2025/12/08/strategic-lithium-reserve
