Fundamental Value: Composition

Source: TMC 2024 Nodule Composition Survey, Clarion-Clipperton Zone (CCZ)
Source: TMC 2024 Nodule Survey, CCZ Zone

Nickel

1.3% AVG GRADE
+15% vs. Terrestrial
Source: Benchmark Minerals Intelligence Cobalt Report 2025

Cobalt

0.2% AVG GRADE
+300% vs. Terrestrial
Source: Wood Mackenzie Global Copper Supply Analysis 2025

Copper

1.1% AVG GRADE
+22% vs. Terrestrial
Source: International Manganese Institute Annual Report 2024

Manganese

27.6% AVG GRADE
PARITY vs. Terrestrial

Lifecycle CO2e

Source: Paumanok Deep-Sea Decarbonization Study, 2023

Nodule processing vs Land Ores

Nodules-90%
Trad. MiningBaseline
Carbon Efficiency Verified

Benthic Biodiversity

Source: TMC Environmental Impact Statement, Appendix B: Benthic Survey, 2024

Deep Sea Sampling Progress

84%
Samples 12,405
Species ID 4,200+
Why this matters

Deep-sea sampling progress is critical for establishing environmental baselines before large-scale operations. It ensures minimal disruption to benthic ecosystems.

Regulatory Timeline

NOAA_&_ISA_TRACKS

ISA PATHWAY

ISA
Source: ISA Contract Grant, NORI-D, 2011

COMPLETED

ISA Exploration License

NORI Area D // 15-Year Contract

ISA
Source: TMC Press Release, Apr 2026

COMPLETED

ISA DeepData Submission

TMC subsidiaries NORI and TOML submit deep-sea dataset to ISA DeepData

ISA
Source: ISA July Session Agenda, Kingston, 2025

IN PROGRESS

Exploitation Code Draft

July Session // Kingston

NOAA PATHWAY

NOAA
Source: Federal Register, July 2025

COMPLETED

NOAA Modernization Rule

Consolidated exploration & commercial recovery application introduced

NOAA
Source: NOAA Public Notice, Jan 2026

COMPLETED

TMC USA Consolidated Application

First-ever consolidated application filed under new rule

NOAA
Source: NOAA Public Notice, March 2026

COMPLETED

Substantial Compliance

Application moves to multi-step EIS review

NOAA
Source: NOAA Press Release, May 2026

COMPLETED

Full Compliance

NOAA determines TMC USA's consolidated application is in full compliance

NOAA
Source: NOAA EIS Tracking

IN PROGRESS

Environmental Impact Statement (EIS)

NEPA review & public comment windows

NOAA
Source: TMC Investor Presentation Q1 2026

IN PROGRESS

Small-Scale Production

Target: Q4 2027

NOAA
Source: TMC Investor Presentation Q1 2026

PENDING

Commercial Production

Target: 2028-2030

NOAA
Source: TMC Press Release, May 2026

IN PROGRESS

Allseas Commercial Agreement

Allseas to develop and operate first commercial nodule collection system

Approval Probability
72%
Source: Internal TMC Risk Assessment Model (NOAA/ISA), Q1 2026

Live Tracking

Vessel Status

Source: MyShipTracking.com

MV Hidden Gem

ACTIVE
Last Known Position Lat: 5.1183, Lon: 115.3255
Updated 2025-03-29 23:07
Vessel Location Map

Collector Depth

4,250 Meters

Source: TMC Operations Dashboard, Live Feed

Global Sentiment Analysis

Policy Maker Sentiment

Source: TMC Government & Public Affairs Monitoring, February 2026
+4.2 pts

Driven by strategic mineral independence

NGO Pressure Index

Source: Greenpeace 'Deep Trouble' Report Analysis, January 2026
-1.5 pts

Correlation with recent LCA reports

Methodology & Transparency

These metrics provide investors with gauge on the political and social license to operate.

Policy Maker Sentiment is an aggregated score derived from legislative tracking, public statements, and geopolitical news analysis. It aims to quantify the overall governmental receptiveness to seabed mining.

NGO Pressure Index evaluates public campaigns, media coverage tone, and activism frequency, reflecting potential pushback or environmental concerns from non-governmental organizations.

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