Following a noteworthy processing accomplishment, TMC the Metals Company Inc. (NASDAQ: TMC) shares saw an upward trend. The Metals Company’s stock was up 7.72% at $2.23 per share as of the most recent trading session. Investor confidence in the company’s most recent metallurgical developments is reflected in this spike.
The PAMCO Facility’s Smelting Campaign Was Successful
During a smelting experiment as part of its 18-month feasibility study, TMC successfully produced manganese silicate and a high-grade nickel-copper-cobalt alloy. Through this endeavor, a 2,000-ton sample of deep-seafloor polymetallic nodules will be processed at Pacific Metals Co. Ltd. or PAMCO’s Rotary Kiln Electric-Arc Furnace (RKEF) plant in Hachinohe, Japan.
The nodules, initially recovered in 2022 by TMC’s subsidiary, Nauru Ocean Resources Inc. (NORI), were extracted from Exploration Contract Area D within the Clarion Clipperton Zone (CCZ). Following their delivery to PAMCO’s RKEF plant, the feasibility study included calcining and smelting campaigns to assess the efficiency of integrating nodule processing into existing metallurgical infrastructure.
Commercial-Scale Processing Demonstrates Feasibility
In September 2024, TMC successfully executed the commercial-scale production of calcine. Subsequently, between January and February 2025, PAMCO operators conducted a 14-day continuous smelting campaign. A 3,000 kVA DC electric-arc furnace was used to process about 450 tonnes of calcine material, producing manganese silicate and premium nickel-copper-cobalt alloy.
The Metals Company successfully reduces the significant costs and dangers involved in building new facilities by utilizing existing industrial processing capacity with just minor adjustments. This milestone reinforces the viability of integrating CCZ nodule processing into established metallurgical operations, marking a significant step in the company’s efforts to de-risk its onshore processing component.
Path to Commercial Nodule Production
The completion of this feasibility study brings TMC closer to submitting the world’s first commercial exploitation application for nodule production in international waters. The success of processing trials at PAMCO’s facility eliminates the need for new infrastructure, ensuring that nodule processing can commence as soon as materials are delivered.
The operational insights gained from this trial will support anticipated definitive processing agreements between the two companies. A Memorandum of Understanding was signed in November 2023 between TMC and PAMCO to finish a feasibility study for processing 1.3 million tonnes of wet polymetallic nodules per year. The Metals Company’s position in the vital minerals supply chain will be further cemented by the use of these processed resources as important feedstock for steel production and energy infrastructure.