- The report [see p.59] noted that “to counter China’s growing hold on the global supply chain, it is essential that the United States secures its own innovative supply of critical and strategic minerals and materials, including polymetallic nodules, to decrease reliance on sources from foreign adversaries.”
- The House Armed Services Committee directed the Assistant Secretary of Defense for Industrial Base Policy “to assess processing of seabed resources of polymetallic nodules domestically.”
- The news comes as American and allied auto and battery makers struggle to secure supplies of critical battery metals that comply with guidelines for incentives under the Inflation Reduction Act.
NEW YORK - June 30, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of critical battery metals, today welcomed the inclusion of polymetallic nodules in a report requested by the House Armed Services Committee to the Assistant Secretary of Defense for Industrial Base Policy under the National Defense Authorization Act (“NDAA”).
Entitled “H.R. 2670 – National Defense Authorization Act for Fiscal Year 2024; and H.R. 1282 – Major Richard Star Act” and submitted June 21 (published yesterday), the House Armed Services request under the NDAA includes a “roadmap recommending how the United States can have the ability to source and/or process critical minerals in innovative arenas, such as deep-sea mining, to decrease reliance on sources from foreign adversaries and bolster domestic competencies.”
TMC Chairman and CEO, Gerard Barron, said, “Given the known deficit of domestic supply and processing of critical lithium-ion battery cathode materials including cobalt, nickel, and manganese, the House request for the U.S. Department of Defense to explore the possibility to process polymetallic nodules in the U.S. is timely. By onshoring primary processing and refining of nodules, the U.S. could secure supply and achieve mineral independence in four important battery metals, support domestic companies and jobs, and drastically reduce the environmental and social impacts that currently plague geopolitically-complex battery material supply chains.”
In February 2022, TMC welcomed the recognition from US political and military leaders of the potential of deep-sea nodules to strengthen national security and reshore supply chains for the energy transition. In March last year, Mr. Barron wrote to the Senate Energy and Natural Resources Committee, in which he noted, “Support from the U.S. Government for the development of the polymetallic nodules resource and TMC’s first project, NORI-D, would unlock access to the resource without overcoming legislative hurdles to ratify the United Nations Convention on the Law of the Sea.”
Previously, Senator Lisa Murkowski (R-AK), a leader on energy and critical minerals issues in the U.S. Senate, wrote a letter urging the Department of Energy to focus on securing access to battery raw materials and explore the potential of polymetallic nodules in the Clarion-Clipperton Zone of the Pacific. In reply, Secretary Granholm confirmed, “Ongoing R&D on critical battery minerals processing through the DOE Office of Science and the Advanced Manufacturing Office is applicable to potential U.S. domestic processing and refining of metallic marine nodules...DOE is continuing to work with interagency partners to consider all potential sources of critical minerals for the supply chain including the role that seabed nodules could play in the future.”
About The Metals Company
The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.
