Minerals Corporation (TMC) has signed a contract with Allseas, a subsea construction company, to develop and operate a nodule collection system, with the hope of mining the Clarion Clipperton Zone (CCZ) in the Pacific Ocean.
The announcement comes as the International Seabed Authority continues to debate mining regulations, leaving companies like TMC to move forward with development before a formal final decision.
Amid growing demand for nickel, cobalt, copper and manganese – materials needed to manufacture batteries – governments are looking to secure long-term suppliers. TMC hopes to position itself as a first mover in commercial deep-sea mining.
Gerard Baron, Chairman and CEO of TMC, described the agreement as a “cornerstone” of their relationship with Allseas. “It sets a clear commercial framework for how to complete the development and operation of the first commercial-scale nodule recovery system and begin offshore nodule recovery operations,” Baron said.
When completed, the system is designed to collect three million tons of wet nodules annually, using vehicles operating at depths of more than four kilometres. TMC expects the system to become operational in late 2027.
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