The Metals Company (TMC) saw its stock soar by 11.46% during the trading session, as investors reacted positively to news highlighting the company's potential in deep-sea mining. The surge comes amid renewed interest in the sector following a Wall Street Journal article that shed light on the Trump administration's support for deep-sea mining operations.

The excitement surrounding TMC stems from an executive order issued by the Trump administration on April 24, directing the National Oceanic and Atmospheric Administration (NOAA) to expedite the permitting process for deep-sea mining companies. This move has significantly boosted TMC's prospects, as the company was the first to apply for a permit just five days after the order was issued. The potential value of undersea metals, estimated at a staggering $20 trillion globally by consulting firm Arthur D. Little, has further fueled investor enthusiasm.

TMC, founded in 2011 specifically for deep-sea mining opportunities off the California coast, appears well-positioned to capitalize on this development. The company recently raised $37 million in equity at $3 per share from a strategic investor, which it claims is sufficient to fund operations through the potential issuance of the permit. With over a decade of preparation and more than half a billion dollars invested, TMC's Chairman and CEO Gerard Barron expressed readiness for this pivotal moment in the company's journey.