Overview
- TMC’s seabed mining applications were posted by NOAA for public comment with late-January hearings scheduled, and the agency said it would examine them without delay.
- Shares traded near $7 this week after a 450% surge in 2025 and were up about 17% in early 2026, placing the company’s market value around $3 billion.
- The company says its April 2025 filing was the first U.S. commercial recovery permit for polymetallic nodules, offering an alternative to ISA authorization.
- Two assessments cited in coverage value TMC’s exploration area at roughly $23.6 billion with estimated capital spending of about $113 million.
- Environmental pushback remains significant, with scientists warning about biodiversity impacts, nearly forty countries calling for a ban, and overlapping jurisdictions flagged with existing ISA permissions.