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TMC the metals company Inc.
TMC · XNCM · Other Industrial Metals & Mining · Canada
TMC the metals company Inc. is a deep-sea minerals exploration and development company focused on sourcing critical battery metals from the ocean floor to support the global energy transition. Headquartered in Vancouver, Canada, the company specializes in the collection, processing, and refining of polymetallic nodules—rich deposits containing nickel, cobalt, copper, and manganese—from the Clarion-Clipperton Zone in the Pacific Ocean. These metals are essential for manufacturing electric vehicle batteries, renewable energy technologies, steel production, and electrical transmission systems. TMC employs both offshore collection operations and onshore metallurgical processing to extract battery-grade materials from nodules, positioning itself as an alternative to traditional land-based mining. The company holds exploration and commercial rights in polymetallic nodule contract areas and pursues a capital-efficient development strategy by partnering with existing offshore and onshore facilities rather than building extensive infrastructure from scratch. As a publicly traded company, TMC aims to provide a sustainable source of metals required for the electrification of transportation and renewable energy infrastructure globally.
Industry
Other Industrial Metals & Mining
Basic Materials sector · Canada
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This company does not currently pay dividends.
Valuation7
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Supply Chain
Lithium Supply Chain
The lithium supply chain is shaped by three structural constraints that most commodity systems do not face simultaneously: extraction methods diverge so fundamentally that brine evaporation and hard-rock mining produce different timelines, geographies, and cost structures from the same element; chemical refining is concentrated in China regardless of where lithium is mined; and demand grows on EV product cycles while new mine development takes five to seven years, creating a timing mismatch the system cannot resolve through price alone.
Rare Earth Elements Supply Chain
The rare earth supply chain is governed by three structural constraints that most industries never encounter: rare earth elements occur together in ore and cannot be mined individually, separation requires toxic acid-based processes that produce radioactive waste, and China controls roughly sixty percent of mining and ninety percent of processing capacity worldwide.
Copper Supply Chain
The copper supply chain is shaped by three structural constraints that compound over time: ore grades are declining, forcing more energy and processing per ton of output; smelting and refining capacity is concentrated in China, which processes roughly forty percent of global copper; and new mines take ten to fifteen years from discovery to production, meaning supply cannot respond to demand on any timeline shorter than a decade.