RegulatoryCompany release

NOAA pushes TMC deep-seabed mining certification decision to mid-December as company posts $28.4M Q3 loss

🇺🇸 TMC the metals Co Inc. (TMC) · Thu 12 Nov 2026

TMC the metals company reports about $123 million in liquidity and a later NOAA timeline for its USA-A application, after the agency said it must review more than 1,600 public comments.

TMC the metals company reported a net loss of $28.4 million for the third quarter of 2026. The company said it held about $123 million in liquidity as of 30 September 2026.

In a letter dated 3 November, the US National Oceanic and Atmospheric Administration (NOAA) told TMC it now expects to issue its final certification determination on the TMC USA-A deep-seabed mining application by mid-December. The previous expectation was the end of October.

NOAA attributed the revised timing to the need to review more than 1,600 public comments. According to TMC's summary, the letter did not identify any deficiency in the application.

TMC also said it is in discussions with US agencies about funding for a processing plant in Brownsville. The company does not plan any other capital market transactions until those talks conclude.

What it means for your team

  • Teams tracking US deep-seabed mining policy should now work to a mid-December NOAA decision window rather than end-October.
  • The volume of public comments, more than 1,600, is the reason NOAA gave for the delay; no application deficiency was cited in the letter, per TMC.
  • Any financing for the Brownsville processing plant depends on the ongoing talks with US agencies, which TMC says it will conclude before other capital market activity.

Company's press release (SEC filing): TMC the metals Co Inc. ↗

Article written by VigiEye from the official source (TMC the metals Co Inc.). Claims are the company's own. AI-assisted; check the source before acting.

More Regulatory All →