TMC Commends U.S. House of Representatives for Allocating Defense Funding to Assess the Feasibility of Domestic Nodule Refining Capacity
TMC the metals company Inc. (TMC)
Company Research
Source: GlobeNewswire
As reported by the Wall Street Journal, the House version of the fiscal year 2025 National Defense Authorization Act (NDAA) calls for $2 million allocated to the Defense Department’s Industrial Base Policy Office to study the feasibility of developing domestic capacity to refine polymetallic nodule-derived intermediates to high-purity nickel, copper and cobalt products. The legislation also proposes to examine existing supply chains for such intermediates.In addition, TMC's U.S. subsidiary has an outstanding application seeking a $9 million grant under the Pentagon’s Defense Production Act Title III program for feasibility work on a domestic refinery for nodule-derived intermediate products.With TMC’s commercial-scale nodule collection from its NORI-D Area targeted to begin at the end of Q1 2026 and a binding memorandum of understanding in place with Pacific Metals Co. of Japan for primary processing, the prospect of refining the resulting NiCuCo intermediate product to high-purity pr
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