TMC The Metals Company Inc. (NASDAQ:TMC) shares are trading higher Thursday. NOAA accelerated its permitting timeline for deep seabed mining applications and TMC filed the first consolidated deep-seabed mining application.
NOAA Finalizes Consolidated Permitting Rules Under DSHMRA
NOAA announced finalized revisions to regulations governing exploration licenses and commercial recovery permit applications under the Deep Seabed Hard Mineral Resources Act. The revisions establish a consolidated application process allowing eligible applicants to apply for both an exploration license and a commercial recovery permit at the same time, rather than through the previously required two-step sequential process.
The agency said the consolidated process is effective upon publication of the final rule and streamlines the deep seabed mining permitting framework. NOAA noted it made clarifying changes to the regulatory text in response to public comments without altering the scope or purpose of the proposed rule issued in July 2025.
Under the updated regulations, applicants may still choose to follow the traditional two-step process or opt into the new consolidated application pathway. NOAA said the changes modernize the permitting structure and enable faster access to deep seabed mineral resources.
The regulatory update is a key component of President Donald Trump's April 24, executive order focused on offshore critical minerals and resources, with the NOAA administrator retaining responsibility for issuing deep seabed mining licenses and permits.
TMC Submits First Consolidated Deep-Seabed Mining Application
TMC filed the first consolidated exploration license and commercial recovery permit application under NOAA's newly implemented review process, expanding the expected commercial recovery permit area to approximately 65,000 square kilometers in the Clarion Clipperton Zone in the Pacific Ocean.
The consolidated application increases the proposed commercial recovery area from about 25,000 square kilometers included in the company's April 2025 filing. TMC estimates the expanded area contains roughly 619 million tons of wet polymetallic nodules, with additional exploration upside of approximately 200 million tons.
The company said it applied under the new consolidated process because it can demonstrate the scientific, technical, and financial capability to pursue commercial recovery activities in line with the updated rule. TMC added that the application is supported by multi-year environmental baseline studies, offshore test mining, and newly published peer-reviewed research indicating biodiversity and sediment plume impacts are confined to directly mined areas.
TMC said the application outlines a phased development approach and reflects more than a decade of scientific, engineering, and environmental work supporting readiness to proceed with commercial operations.
TMC Price Action: At the time of writing, TMC shares are trading 7.71% higher at $8.80, according to data from Benzinga Pro.
Image: Courtesy of TMC
