TLDRs:
- TMC shares surge 13% premaket as NOAA deep-sea mining hearings approach.
- The company seeks U.S. approval to commercially extract seabed nodules.
- TMC expands its proposed mining area to 65,000 square kilometers.
- Public comments for NOAA hearings are open until February 23, 2026.
Shares of The Metals Company Inc. (NASDAQ: TMC) jumped sharply in premarket trading Monday, rising roughly 13% to $9.44, up from Friday’s close of $8.32.
The surge comes as traders anticipate key public hearings from the National Oceanic and Atmospheric Administration (NOAA) regarding the company’s deep-sea mining applications.
Investors are closely watching TMC’s efforts to secure U.S. approval to mine mineral-rich rocks on the ocean floor containing nickel, copper, cobalt, and manganese, amid a broader push to streamline regulations for seabed mining.
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Expanded Mining Plans
TMC has expanded its proposed commercial recovery area to approximately 65,000 square kilometers, up from an earlier estimate of 25,000 square kilometers.
The company estimates around 619 million tonnes of wet nodules are present in the proposed area, with an additional 200 million tonnes as potential upside.
CEO Gerard Barron described the updated application as the “culmination of more than a decade of disciplined scientific, engineering, and environmental work.” TMC’s U.S. unit has filed a consolidated application with NOAA for both an exploration license and a commercial recovery permit, which are required to legally harvest nodules on the international seabed.
Regulatory Momentum
The stock’s premarket rally follows recent U.S. policy moves to fast-track deep-sea mining permits. Officials finalized rules designed to streamline NOAA’s review process, a change Barron called a “meaningful modernization” of U.S. regulations.
Political attention is mounting, with the U.S. House Natural Resources subcommittee on Energy and Mineral Resources holding oversight hearings on Jan. 22 to examine regulatory and statutory barriers to seabed mining. The new framework aims to balance commercial development with environmental protections, though critics have raised concerns about potential habitat damage and conflicts with international law.
Upcoming NOAA Hearings
Traders will now turn their attention to NOAA’s virtual public hearings, scheduled for Jan. 27-28, which will address TMC’s exploration-license applications. Public comments on the proposal will be accepted until Feb. 23, providing a key opportunity for stakeholders to weigh in.
TMC also has an agreement with Glencore to purchase the metals extracted from its seabed operations, highlighting growing commercial interest in the sector. Investors will be monitoring developments closely, as any regulatory updates or public feedback could significantly impact TMC’s stock in the coming weeks.
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