- The Kingdom of Tonga and TMC’s subsidiary, Tonga Offshore Mining Ltd (TOML), signed a revised Sponsorship Agreement, updating the terms of their agreement signed in 2021
- The Government of the Kingdom of Tonga welcomes the new agreement which will ensure that Tongans will receive benefits from any future development of seafloor mineral resources by TOML or another TMC subsidiary
- As one of the first Developing States to apply for a marine mineral exploration contract, the Kingdom of Tonga has played a leading role in the development of the seafloor minerals industry, advancing the rights of Developing States
- The International Seabed Authority (ISA) has failed to adopt the Exploitation Regulations, despite having been required to do so by 2023 and having had a further roadmap and commitment to do so by 2025, which it has failed to meet
- The ISA remains unable to satisfy its legal obligations under the United Nations Convention on the Law of the Sea (UNCLOS) to provide regulatory certainty by completing the Mining Code and it remains unclear when the Exploitation Regulations will be adopted
- The Government of the Kingdom of Tonga and TMC acknowledge that continued and extended delays at the ISA in adopting the Exploitation Regulations have impeded TOML’s ability to proceed with its planned application for commercial exploitation activities in the TOML Area and breached Tonga’s legitimate expectations as a Small Island Developing State in enjoying its rights as a sponsoring State under UNCLOS
- Tonga acknowledges the recent Executive Order by U.S. President Trump and the existing U.S. seabed mining code under DSHMRA, which provides a stable, transparent and enforceable regulatory path for the industry
NEW YORK, Aug. 04, 2025 (GLOBE NEWSWIRE) -- The Government of the Kingdom of Tonga and its sponsored entity, Tonga Offshore Mining Ltd, together with TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”) — a leading developer of the world’s largest undeveloped resource of critical metals essential to energy, defense, manufacturing, and infrastructure — today announced the signing of a revised Sponsorship Agreement (“Agreement”), updating the terms of the Agreement signed between the parties in 2021.
The Agreement guarantees the Kingdom of Tonga will continue to receive existing financial benefits, training and capacity-building programs and in-country community and social programs it receives today, while ensuring that, in consideration for its continued sponsorship of TOML, Tonga will receive continuity benefits upon the commencement of commercial production by TOML or another TMC subsidiary.
Tonga remains committed to sponsoring TOML, working with the International Seabed Authority (ISA) and meeting all obligations as a sponsoring State under international law.
Tonga’s Minister for Lands, Survey, Planning and Natural Resources, Hon. Dr. ‘Uhila Moe Langi Fasi, commented: "We welcome TOML’s willingness to strengthen its commitments through this agreement. It marks an important step toward ensuring that seabed minerals activities contribute meaningfully to Tonga’s long-term development goals — with transparency, fairness, and environmental care at the core.”
Tonga was one of the first Developing States to sponsor a polymetallic nodule exploration contract and has taken a leading role in shaping the deep-sea mining industry.
Gerard Barron, Chairman and CEO of TMC, added: “For over a decade, it has been our privilege to work alongside the Government and people of the Kingdom of Tonga—one of the earliest and most committed supporters of this new industry. Tonga’s leadership has been instrumental in advocating for the responsible development of deep-sea minerals.
We are proud to renew our partnership at this exciting moment, as Tonga helps re-shape the way the world produces the key resources underpinning economic and global development. Together, we are determined to ensure that Tonga receives lasting, transparent benefits for all Tongans. We will always be guided by science, driven by shared values, and grounded in a deep respect for, and vision to protect, the ocean. The journey ahead holds immense potential, and we look forward to walking it hand in hand with Tonga.”
About The Metals Company
The Metals Company is an explorer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for building infrastructure, power generation, transmission, and batteries with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company through its subsidiaries holds exploration rights to two polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean sponsored by the governments of the Republic of Nauru and the Kingdom of Tonga, and has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing. More information is available at www.metals.co.
