TMC Receives NOAA Full Compliance, Signs Allseas Production Contract, Secures $85M Korea Zinc

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 14, 2025 · ~2 min read

Key Changes

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  NOAA determined TMC USA's consolidated application for exploration license and commercial recovery permit is in full compliance with DSHMRA requirements, advancing the application to certification review and interagency consultation. This procedural milestone follows substantial compliance determination and moves the company closer to permit issuance.

  MD&A: NOAA Regulatory Progress verify on EDGAR →
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  TMC signed binding production contract with Allseas for 3.0 Mtpa offshore nodule collection system, settling $34.4M in prior development costs through issuance of 7.4M shares. Commissioning targeted for Q4 2027, subject to NOAA permit receipt.

  MD&A: Allseas Production Contract verify on EDGAR →
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  Korea Zinc invested $85.2M for 19.6M shares and warrants, establishing strategic partnership with world leader in non-ferrous metal refining and pCAM technology. Korea Zinc received participation rights to maintain ownership percentage through June 2030.

  MD&A: Korea Zinc Partnership verify on EDGAR →