<\/a><\/p>\nDuring recent integrated collection system trials in November, TMC successfully collected over 3,000 tonnes of nodules while independent scientists from a dozen of the world\u2019s leading marine research institutions monitored the environmental impacts.<\/p>\n<\/div>\n
Under the MOU, PAMCO will undertake studies to estimate the cost of processing polymetallic nodules through existing facilities and identify any additional equipment requirements, currently expected to be minimal. This work will inform expected nodule through-put, process operating conditions and product specifications for PAMCO\u2019s dedicated production line. PAMCO has received a 22-tonne sample of polymetallic nodules for use in the evaluations.<\/p>\n
In parallel, PAMCO is studying the addition of a facility to process the intermediate alloy to nickel-copper-cobalt matte, which is an upgraded intermediate battery supply chain feedstock. It is anticipated that the additional facility would be constructed once commercial processing of polymetallic nodules to alloy has been demonstrated. The parties are working towards a binding MOU for toll-processing in 2023 with definitive agreements to follow.<\/p>\n
Gerard Barron, CEO & Chairman of The Metals Company, said: \u201cWe are excited about the prospect of working closely with PAMCO who have been smelting nickel laterite ores at their Hachinohe facility since 1965 and have considerable experience in adapting to various land-based feedstocks from the Pacific. Technically, the Hachinohe plant appears well-suited to deploy the near-zero solid waste flowsheet we developed for processing nodules with little modification. Strategically, we are aligned with PAMCO\u2019s goal to contribute materials to a sustainable and recycling-oriented society. We look forward to working with PAMCO on the upcoming study program, finalizing the agreements and ultimately processing nodules to provide the metals required for the energy transition. This MoU is part of our stated capital-light strategy to get into initial commercial production swiftly and with lower upfront capital by re-using existing production assets like our first production vessel and former drill ship, Hidden Gem, and existing smelting facilities onshore, as well as by leveraging the deep operational expertise of our partners Allseas and onshore processors like PAMCO. These partnerships and our relentless focus on the environmental and social impacts of any future operations is how we unlock the enormous battery metal resource held by TMC.\u201d<\/p>\n
Masayuki Aoyama, PAMCO President, commented: \u201cWe look forward to working with TMC to enhance the value of the Hachinohe facility by processing a higher value material with a lower environmental impact. We are excited by the prospect of being the first commercial processor of polymetallic nodules and see the opportunity to emerge as supplier of Li\u2013ion battery metals.\u201d<\/p>\n
About The Metals Company<\/strong> \nThe Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.<\/p>\nAbout Pacific Metals (PAMCO) <\/strong> \nSince its establishment in 1949, Pacific Metals Co., Ltd. (PAMCO) has performed through Japan\u2019s post-war reconstruction and many crises to develop new technologies, launch new products, and implement an effective quality control program with a view to satisfying the needs of the customer and becomes Japanese leading ferronickel producer. With ferronickel as its main product, PAMCO produces nickel slag products obtained as by-products in the smelting process.<\/p>\nForward Looking Statements <\/strong><\/p>\nCertain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as \u201cbelieve,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cestimate,\u201d \u201ccontinue,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cexpect,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cplan,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201cseem,\u201d \u201cseek,\u201d \u201cfuture,\u201d \u201coutlook\u201d and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The forward-looking statements contained in this press release include, without limitation, statements regarding the studies to evaluate the processing of polymetallic nodules and the processing of a 22-tonne sample of nodules and feasibility of adding a new processing facility to convert nickel-copper-cobalt alloy into an upgraded matte product. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside TMC\u2019s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: Regulatory uncertainties and the impact of government regulation and political instability on TMC\u2019s resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC\u2019s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; TMC\u2019s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that TMC may recover; risks associated with collection, development and processing polymetallic nodules; risks associated with TMC\u2019s limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC\u2019s intellectual property and the validity, use and ownership of any new technology or intellectual property subsisting therein; TMC\u2019s ability to raise additional funds; and other risks and uncertainties indicated from time to time in the Company\u2019s Form 10-K, dated and filed with the U.S. Securities and Exchange Commission (SEC) on March 25, 2022 as well as the Company\u2019s Form 10-Q filed with the SEC on November 14, 2022, including those under \u201cRisk Factors\u201d therein, and in TMC\u2019s other future filings with the SEC. TMC cautions that the foregoing list of factors is not exclusive. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law.<\/p>\n
Photos accompanying this announcement are available at: \nhttps:\/\/www.globenewswire.com\/ NewsRoom\/AttachmentNg\/ 5eb127e5-c1da-49f0-83db- c661ef47a44f<\/a><\/p>\nhttps:\/\/www.globenewswire.com\/ NewsRoom\/AttachmentNg\/ fa3473bb-76f5-4387-a024- 365f85cc58e3<\/a><\/p>\nMore Info\u00a0\r\nMedia | media@metals.co<\/a>\u00a0\r\nInvestors | investors@metals.co<\/a><\/pre>\nGlobeNewswire Distribution ID 8789658<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Nodules on the conveyor TMC and PAMCO have entered into a non-binding memorandum of understanding where PAMCO will evaluate the feasibility of processing of 1.3 million tonnes of wet polymetallic nodules (PMN) per year from 2025 onwards to produce lithium-ion battery and steel making feedstocks as part of TMC\u2019s NORI-D Project Zero development This MoU [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"yoast_head":"\n
TMC Enters into MOU with Leading Nickel Processor PAMCO to Evaluate the Processing of Polymetallic Nodules into Battery Metal Feedstocks - Indonesia Tribune<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n