Metals Company releases two economic studies

TMC announced the release of a Technical Report Summary, TRS, of the Pre-Feasibility Study, PFS, for its proposed NORI-D Polymetallic Nodule Project in the Clarion Clipperton Zone, CCZ, of the Pacific Ocean, prepared in accordance with Subpart 1300 of SEC Regulation S-K, SK-1300. The PFS marks a world-first declaration of Probable Mineral Reserves for deep-sea polymetallic nodules and was prepared and signed off by Qualified Persons, including AMC Consultants. Alongside the PFS, TMC announced the publication of an Initial Assessment for the remainder of its resource in the NORI and TOML blocks in the CCZ, with a measured and indicated mineral resource of 73Mt of wet nodules grading 1.30% nickel, 0.20% cobalt, 1.2% copper and 30.2% manganese with an abundance of 12.8 Kg/m2 and an inferred mineral resource of 1206 Mt of wet nodules grading 1.30% nickel, 0.20% cobalt, 1.1% copper and 28.7% manganese with an abundance of 11.6 Kg/m2 supporting an After-tax NPV of $18.1 billion and After-tax IRR of 35.6%.