TMC (TMC) said Tuesday its US subsidiary has filed applications to the National Oceanic and Atmospheric Administration for a commercial recovery permit and two exploration licenses of deep-sea minerals in high seas under the US seabed mining code.
The company said the applications follow last week's executive order signed by US President Donald Trump to create a solid domestic supply of critical minerals from seabed resources.
The NOAA is expected to make an initial decision as to whether the applications for exploration licenses are in compliance with the applicable rules within 30 days of receipt and also whether the application for a commercial recovery permit is complete within 60 days, the company said.
Shares of the company rose 1.2% in recent trading.
Price: 3.35, Change: +0.04, Percent Change: +1.18
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.