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TMC Says NOAA Certifies USA B Exploration License Application

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TMC the Metals Co. (TMC) said Thursday that the National Oceanic and Atmospheric Administration has certified the USA B seafloor exploration license application of its subsidiary The Metals Co. USA.

The application area covers roughly 122,000 square kilometers of seafloor that is estimated to hold 1.02 billion tonnes of polymetallic nodules, which contain critical metals ranging from nickel to rare earth elements, the company said.

The company said it is also advancing its USA A consolidated application, which is already deemed to be fully compliant.

NOAA is expected to publish a notice of intent to prepare an environmental impact statement for the USA B area, followed by draft environmental reviews and proposed operating terms for public comment. After the comment period, NOAA will finalize the environmental impact statement and make a final license determination, the company said.

TMC shares were more than 4% higher in Thursday trading.

Price: $5.94, Change: $+0.23, Percent Change: +4.05%

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