RESOURCES

A new independent analysis of the pre-feasibility study (PFS) produced by The Metals Company (TMC) has found that on its own numbers, this project makes zero profit then collapses, raising serious questions about the project’s financial and technical credibility. The report released today was authored by an experienced consultant specialising in evaluating the environmental impacts of mining, Dr. Steven H. Emerman. He assesses the project against recognised mining and financial disclosure standards, and notes that according to TMC’s own modelling the operation would fail to deliver any meaningful profit.

A growing number of banks, insurers, asset managers and public financial institutions are distancing themselves from deep-sea mining. A new report from the Deep Sea Mining Campaign (DSMC) and Seas At Risk finds that financial markets are increasingly treating deep-sea mining as a high-risk industry with significant environmental, regulatory, economic and reputational concerns.