Shares in The Metals Company (NASDAQ: TMC) jumped on Wednesday after the company said it completed its first collection run of polymetallic nodules more than four kilometres below the surface of the Pacific ocean.
The Vancouver-based company said its production vessel, the Hidden Gem, collected an initial batch of seafloor nodules and transported it up a 4.3km-long riser system to the surface, “in what represents the first integrated system test conducted in the Clarion Clipperton Zone of the Pacific Ocean since the 1970s.”
TMC said 130 crew and engineers piloted the collector vehicle, designed by partner Allseas, 147 metres in one hour on a pre-determined path and collected 14 tonnes of nodules.
Last month, TMC’s subsidiary Nauru Ocean Resources Inc (NORI) received the go-ahead from the International Seabed Authority to start the pilot project with the aim of collecting approximately 3,600 tonnes of nodules containing nickel, cobalt and manganese before the end of the year:
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