Key points
- The Metals Company plans to extract poly-metallic nodules from the seafloor 4,000 meters below sea level in the Pacific; the nodules contain nickel, cobalt, copper, and manganese at grades 8-10 times higher than terrestrial mining.
- The company controls 1.6 billion tons of nodules across three licensed areas, with enough to manufacture 280 million electric vehicle batteries.
- The abyssal mining zone contains 13 grams of biomass per square meter, compared to 20-30 kilograms destroyed per square meter in land-based mining such as Indonesia’s.
- The company expects battery metal production by 2024, cash flow positivity by 2027, and is pursuing a public listing at 2.9 billion dollar valuation under regulation by the International Seabed Authority.
