The Metals Company Inc (TMC) USA-B License Application Certified
The Metals Company Inc (NASDAQ:TMC) is among the best Robinhood stocks under $20 to buy now. Analysts expect the stock to almost double over the next 12 months.
On May 28, The Metals Company Inc (NASDAQ:TMC) announced that its USA-B exploration license application has been certified by the US National Oceanic and Atmospheric Administration.
The company described the certification as an important step in its pursuit of a license to explore the seafloor for polymetallic nodules containing high-grade cobalt, copper, nickel, manganese, and rare-earth elements.
The Metals Company’s USA-B application pertains to the exploration of an area that covers roughly 122,000 square kilometers of seafloor. This area is believed to contain more than 1 billion tonnes of polymetallic nodules.
Additional steps remain before the regulator can give the company the green light to proceed with the exploration work. But Metals Company already sees the certification as bringing it closer to the next stage of regulatory review. In addition to the USA-B application, the company’s USA-A exploration license application is also advancing through the regulatory process. According to the company, exploration is an important step to unlocking the potential of America’s untapped nodule resource.
The Metals Company Inc (NASDAQ:TMC) is a deep-sea mining exploration company based in Canada. The company is focused on harvesting polymetallic nodules from the ocean floor. These nodules contain metals such as nickel, cobalt, copper, and manganese, which are in high demand in energy, defense, infrastructure, and manufacturing markets.
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