Gold prices steady, holding sharp gains in wake of soft U.S. jobs data
Investing.com -- Shares of TMC the metals company (NASDAQ:TMC) surged 34% after reports emerged that President Donald Trump is expected to sign an executive order on Thursday aimed at promoting the deep sea mining industry. According to sources cited by Reuters, the order is part of an initiative to develop international deposits of essential minerals such as nickel and copper, which are vital for various sectors of the economy, including infrastructure and battery production.
The Metals Company, which specializes in the exploration of critical metals from seafloor polymetallic nodules, may stand to benefit significantly from the administration’s push to advance deep sea mining. The company has a dual mission: to supply metals for essential infrastructure and power generation with net positive impacts and to establish a cycle of tracing, recovering, and recycling the metals it supplies. This approach aims to foster a sustainable "metal commons" that could be utilized indefinitely.
The market’s response to the anticipated executive order underscores investor confidence in TMC’s prospects. The company’s focus on environmentally conscious extraction methods and its strategic positioning within the industry could align well with potential new regulatory frameworks expected from the Trump administration’s order.
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