New York, Jan 25, 2026, 08:57 EST — Market closed
- TMC shares surged 13.5% on Friday, closing at $9.44, following a U.S. permit filing related to deep-sea mining regulations
- This move highlights NOAA’s newly streamlined review process for seabed mining applications
- Attention now shifts to the federal comment-and-hearing calendar, where regulators are set to tackle the initial tests of the process
Shares of TMC the metals company Inc. surged 13.46% to close at $9.44 on Friday, trading around 23.9 million shares. The jump came after the company moved forward with efforts to secure U.S. approval for seabed metal mining. U.S. markets remain closed Sunday and will reopen Monday. (MarketScreener)
The surge comes after a fresh U.S. regulatory adjustment that the company claims will accelerate moving from exploration to commercial production. “The consolidated process is designed to reduce timelines while increasing efficiency and predictability for responsible operators,” CEO Gerard Barron said in a statement. (The Metals Company)
Why it matters now: Washington aims to speed up permitting for deep-sea mining under the Deep Seabed Hard Mineral Resources Act of 1980, part of a wider move to lock down critical minerals needed for batteries and electronics. This push is expected to face legal challenges and environmental pushback, especially since the U.N.-linked framework hasn’t yet finalized global rules for mining in international waters. (Reuters)
On Jan. 22, TMC announced its U.S. unit submitted a consolidated application to the National Oceanic and Atmospheric Administration. The request covers an exploration license and commercial recovery permit for about 65,000 square kilometers in the Pacific’s Clarion-Clipperton Zone. That’s up from the previous commercial recovery area of roughly 25,000 square kilometers. The company estimates the site contains 619 million tonnes of “wet nodules,” with room for more. “This new application represents the culmination of more than a decade of disciplined scientific, engineering, and environmental work,” said Barron. (The Metals Company)
On Jan. 22, Barron told a U.S. congressional subcommittee he expects approvals this year and portrayed the company as ready to act fast. “We have a high degree of confidence that this year we will see our permits granted for our commercial recovery application,” he said. When a lawmaker questioned how the company could be so prepared to file soon after the rule change, Barron denied any advance knowledge of the final NOAA regulations. (Spglobal)
A securities filing revealed the company officially disclosed the submission in a current report, including the Jan. 22 press release as an exhibit.
Brokerages jumped in. Alliance Global lifted its price target on TMC to $12.25 from $6.50, maintaining a buy rating. The firm highlighted a “major permitting milestone” and called the regulatory change a clear tailwind. (Tipranks)
TMC is the first deep-sea mining company to apply for Washington’s approval to mine the international seabed using the new streamlined process, Reuters reported. London-listed Glencore has agreed to buy the metals TMC extracts, and Barron noted the updated regulations “pave a pathway for faster permitting.” Environmental groups, however, have pushed for a ban, warning that industrial seabed mining could cause irreversible harm to biodiversity, the report said. (Reuters)
Still, the risk of setbacks remains high. The new process must undergo federal environmental review under the National Environmental Policy Act, with opponents poised to maintain legal and political challenges. A client note from Vinson & Elkins cautioned that while the final rule could speed up permitting through a consolidated environmental impact statement, “sustained legal and political scrutiny” is expected as applications proceed. (Velaw)
Beyond the U.S., the International Seabed Authority plans to kick off the first phase of its 31st session in Kingston this March, as progress stalls on worldwide mining regulations. The Council is slated to meet from March 9 to 20, 2026, right after the Legal and Technical Commission gatherings in late February and early March. (Org)
Traders are shifting focus from metal prices to key dates on the calendar. NOAA’s National Ocean Service notes that DSHMRA licensing involves public comment periods. They’ve scheduled virtual public hearings for Jan. 27 and Jan. 28, 2026, with comments accepted through Feb. 23, 2026, concerning TMC USA’s exploration license applications. The next clear trigger will be any official notice detailing the timeline for the newly submitted consolidated application once markets open Monday. (Noaa)
