TMC the metals company Inc. (TMC) Falls 17.7% as Investors Await Deep-Sea Mining Decision

We recently published 10 Big Names Stumbling Hard. TMC the metals company Inc. (NASDAQ:TMC) was one of the worst performers on Monday.

TMC snapped a three-day winning streak on Monday, shedding 17.69 percent to close at $7.77 apiece as investors resorted to profit-taking while waiting for developments in relation to its deep-sea mining application with the United States for its planned exploration of the Clarion Clipperton Zone (CCZ).

This followed TMC the metals company Inc.’s (NASDAQ:TMC) submission with the National Oceanic and Atmospheric Administration (NOAA) last week, seeking the issuance of an exploration license and a commercial recovery permit for a wider coverage in the CCZ—65,000-square-kilometers, versus the 25,000-km² coverage area applied for in April 2025.

“This new application represents the culmination of more than a decade of disciplined scientific, engineering, and environmental work. It translates years of exploration, testing, and data collection into a single, comprehensive submission for a defined, expanded, and game-changing critical minerals project, with more than 800 million estimated tonnes of nodules containing high-grade nickel, copper, cobalt and manganese—representing a metal grade of approximately 3.2 percent for nickel equivalent and 7 percent copper equivalent,” said TMC the metals company Inc. (NASDAQ:TMC) Chairman and CEO Gerard Barron.

Photo by Shane Cottle on Unsplash

“We believe it demonstrates both the maturity of our project and our readiness to proceed to commercial operations under the US regulatory framework,” he added.

TMC the metals company Inc. (NASDAQ:TMC) is originally a Canadian company, which last year earned the ire of several members of the International Seabed Authority (ISA) for allegedly bypassing Canada, an ISA member, and the agency, with its submission to the US.

In its defense, the listed firm said that the submission was made through its US subsidiary.

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Disclosure: None. This article is originally published at Insider Monkey.