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TMC the metals Co Inc. (NASDAQ:TMC), a metal mining company, announced on Thursday that its subsidiary, The Metals Company USA, LLC ("TMC USA"), has received a favorable notice from the National Oceanic and Atmospheric Administration ("NOAA"). The notice, dated May 28, 2025, indicates that TMC USA’s exploration license applications for areas designated as USA-A and USA-B are in substantial compliance with the Deep Seabed Hard Mineral Resources Act ("DSHMRA") and NOAA’s implementing regulations.
The acknowledgment from NOAA confers a priority right for TMC USA to obtain exploration licenses for the specified areas, according to the regulatory provisions of 15 C.F.R. § 970.209 and 30 U.S.C. § 1413(b). NOAA has also provided TMC USA with a list of specific items that need to be addressed to achieve full compliance. The company plans to respond promptly with amended applications to meet NOAA’s full compliance requirements.
This development represents a step forward for TMC as it seeks to secure exploration licenses for deep seabed mining, an activity that involves the recovery of minerals from the ocean floor, which is increasingly seen as a new frontier for resource extraction.
The press release detailing this information is based on a recent SEC filing by TMC the metals Co Inc.
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