Metals Company ‘commends’ U.S. House of Representatives’ funding allocation

TMC the metals company welcomed the introduction of legislation by the U.S. House of Representatives calling for financial support from the Defense Department’s Industrial Base Policy office to “assess the feasibility of improving domestic capabilities for refining polymetallic nodule-derived intermediates into high-purity nickel, cobalt sulfate, and copper.” Led by the House Armed Services Committee, the proposed legislation would support the realization of nickel refining capacity in the United States, to build resilient supply chains and revitalize American manufacturing per Executive Order 14017. A wide variety of Congress members and former military officials have urged the Administration to consider polymetallic nodules as a component of its national critical mineral strategy. TMC CEO and Chairman, Gerard Barron, commented: “This is a big step in the right direction for the United States towards securing a stable supply of responsibly-sourced critical minerals. The U.S. House of Representatives has, through the National Defense Authorization Act for fiscal year 2025, designated $2 million for feasibility work for developing domestic polymetallic nodule intermediate refining capacity to produce high-purity nickel, cobalt, and copper. TMC remains acutely focused on starting production through our capital-light approach utilizing existing assets, but this encouraging policy action lays the foundation for the U.S. to catch up to China in the critical minerals race and establish metal independence.”