TMC secures regulatory approval to explore 122,000 square kilometers for polymetallic nodules containing critical minerals.
The National Oceanic and Atmospheric Administration approved TMC The Metals Company’s expanded exploration license for deep-sea mining in the Pacific Ocean. The new license covers an additional 122,000 square kilometers, supplementing an existing 65,000 square kilometer area already under assessment.
TMC estimates the region holds over 1 billion tonnes of polymetallic nodules, rich in nickel, cobalt, and copper. The U.S. aims to reduce reliance on China, which dominates rare-earth element extraction and processing, controlling 70% and 90% of global supply chains, respectively.
The approval allows TMC to advance exploration between Mexico and Hawaii, marking a step toward domestic critical mineral production.