TMC and SGS Produce World-First Cobalt Sulfate from Deep-Seafloor Polymetallic Nodules
12 Giugno 2024 - 2:00PM
TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”),
an explorer of the world’s largest estimated undeveloped source of
critical battery metals, today announced that it has successfully
produced the world’s first cobalt sulfate derived exclusively from
seafloor polymetallic nodules. The cobalt sulfate was generated
during bench-scale testing of TMC’s hydrometallurgical flowsheet
design with SGS Canada Inc. (“SGS”). The test work was carried out
at SGS’ Metallurgical Centre of Excellence testing facility in
Lakefield, Ontario.
Based on samples of nickel-cobalt-copper matte first produced by
TMC in 2021, the Extractive Metallurgy team at SGS tested TMC’s
efficient flowsheet to process high-grade nickel-copper-cobalt
matte directly to high-purity cobalt sulfate without making cobalt
metal, while producing fertilizer byproducts instead of solid waste
or tailings. This milestone follows last month’s successful
production of nickel sulfate, a key raw material input used in the
production of energy-dense electric vehicle batteries.
“This achievement further demonstrates the potential for
seafloor polymetallic nodules as a valuable resource,” said Dr.
Jeffrey Donald, TMC Head of Onshore Development. “Following the
success of our first nickel sulfate production in April, production
of the world’s first cobalt sulfate from deep-seafloor nodules is
another important milestone for TMC and for creating a responsible
supply of metals required for human flourishing. SGS continues to
execute at a high level and this milestone demonstrates the
viability of our process and our dedication to near-zero solid
waste nodule processing.”
Carlos Cordoba, Vice President of Natural Resources at SGS North
America, commented: “SGS is pleased to support TMC in achieving
another milestone towards commercialization of polymetallic nodules
suitable for the battery chemicals market. Our technical expertise
in extractive metallurgy is driving innovation in the mining
industry and we look forward to continuing to set the benchmark as
a trusted service provider at every stage of the mining project
lifecycle.”
TMC and SGS’ success in deriving cobalt sulfate from seafloor
polymetallic nodules is a key milestone in advancing TMC’s mission
to supply metals for the global energy transition with the least
possible negative impacts on planet and people.
In April, TMC and SGS produced the world’s first nickel sulfate
derived exclusively from seafloor polymetallic nodules. TMC’s NORI
and TOML projects are ranked as the world’s #1 and #2 largest
undeveloped nickel projects according to Mining.com, containing in
situ quantities of nickel, cobalt, copper and manganese sufficient
to meet the needs of 280 million electric vehicles – roughly the
size of the entire U.S. light vehicle fleet. With analysts warning
that the quantities of critical battery metals like nickel and
cobalt available from domestic or allied partners will be
insufficient to meet U.S. demand from the energy transition, there
is increased interest in and prioritization of marine minerals to
support energy and national security.
In May, Congress allocated $2 million to the Defense
Department’s Industrial Base Policy Office to study the feasibility
of domestic nodule refining capacity. In March, members of the
House of Representatives introduced draft legislation calling for
the U.S. to “provide financial, diplomatic, or other forms of
support for seafloor nodule collection, processing and refining.”
In November 2023, TMC signed a Memorandum of Understanding with
Pacific Metals Corporation (PAMCO) to complete a feasibility study
to process 1.3 million tonnes of wet polymetallic nodules (PMN) per
year into high-grade nickel-copper-cobalt alloy / matte and
manganese silicate, which are feedstock for the production of
lithium-ion batteries, electrical infrastructure and steel.
About The Metals CompanyThe Metals Company is
an explorer of lower-impact battery metals from seafloor
polymetallic nodules, on a dual mission: (1) supply metals for the
global energy transition with the least possible negative impacts
on planet and people and (2) trace, recover and recycle the metals
we supply to help create a metals commons that can be used in
perpetuity. The Company through its subsidiaries holds exploration
and commercial rights to three polymetallic nodule contract areas
in the Clarion Clipperton Zone of the Pacific Ocean regulated by
the International Seabed Authority and sponsored by the governments
of Nauru, Kiribati and the Kingdom of Tonga. More information is
available at www.metals.co.
About SGS As the world’s leading inspection,
verification, testing and certification company, SGS is recognized
as the global benchmark for quality and integrity. With more than
99,600 employees, SGS operates a network of over 2,600 offices and
laboratories around the world. Visit: www.sgs.ca.
More Info Media | media@metals.co Investors |
investors@metals.co
Forward Looking Statements
Certain statements made in this press release are not historical
facts but are forward-looking statements for purposes of the safe
harbor provisions under The Private Securities Litigation Reform
Act of 1995. Forward-looking statements generally are accompanied
by words such as “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “plan,”
“predict,” “potential,” “seem,” “seek,” “future,” “outlook” and
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. The
forward-looking statements contained in this press release include,
without limitation, statements that waste streams could be reduced
by using deep-sea nodules. These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from those discussed in the
forward-looking statements. Most of these factors are outside TMC’s
control and are difficult to predict. Factors that may cause such
differences include, but are not limited to: any future results of
processing of the polymetallic nodules, including but not limited
to the successful production of nickel and/or cobalt sulfate or the
ability to commercially produce such products; regulatory
uncertainties and the impact of government regulation and political
instability on TMC’s resource activities; changes to any of the
laws, rules, regulations or policies to which TMC is subject; the
impact of extensive and costly environmental requirements on TMC’s
operations; environmental liabilities; the impact of polymetallic
nodule collection on biodiversity in the CCZ and recovery rates of
impacted ecosystems; TMC’s ability to develop minerals in
sufficient grade or quantities to justify commercial operations;
the lack of development of seafloor polymetallic nodule deposit;
uncertainty in the estimates for mineral resource calculations from
certain contract areas and for the grade and quality of
polymetallic nodule deposits; risks associated with natural
hazards; uncertainty with respect to the specialized treatment and
processing of polymetallic nodules that TMC may recover; risks
associated with collection, development and processing operations;
fluctuations in transportation costs; testing and manufacturing of
equipment; risks associated with TMC’s intellectual property; and
other risks and uncertainties, including those in the “Risk
Factors” sections, included in the final prospectus and definitive
proxy statement, dated and filed with the Securities and Exchange
Commission (the “SEC”) on August 12, 2021 relating to the business
combination, in TMC’s Annual Report on Form 10-K for the year ended
December 31, 2023, filed by TMC with the SEC on March 25, 2024, and
in TMC’s other future filings with the SEC, including TMC’s
Quarterly Reports on Form 10-Q. TMC cautions readers not to place
undue reliance upon any forward-looking statements, which speak
only as of the date made. TMC does not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in its expectations or any change in events, conditions, or
circumstances on which any such statement is based except as
required by law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2bfad1af-6135-412c-95e0-57ce2c6472c3
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