Latest news with #deepSeaMining
Globe and Mail
2 days ago
- Business
- Globe and Mail
Tmc The Metals Company: Wedbush Raises Valuation on Optimism
TMC The Metals Company (TMC) (About (STA Research): Is a Canadian investment research company, consisting of Financial Professionals specializing in advanced stock research and analysis) Wedbush raised their 12 month target price for The Metals Company Inc. from $6 to $11, reflecting a significantly more optimistic view of the company's future. This upward revision is driven by several key factors. First, the recent executive order supporting critical mineral development has bolstered confidence in the regulatory environment, providing a favorable backdrop for the company's deep sea mining operations. Second, The Metals Company has strengthened its balance sheet, improving its financial stability and ability to fund ongoing and future projects. Lastly, there is growing momentum around U.S.-backed initiatives focused on deep sea mining, positioning the company at the forefront of a strategic sector vital to the country's resource independence and clean energy transition. Collectively, these developments enhance the company's long-term growth prospects and justify the more aggressive price target. Stock Forecast & Analysis Analyst sentiment toward The Metals Company (TMC) is cautiously optimistic, with a consensus 'Buy' rating and as 12 month target price forecast of $9 per share. While TMC has strengthened its financial position with $81 million in cash and progress on key permits, it remains a pre-revenue company with projected losses and significant capital needs through 2027. Growth forecasts are strong—around 64% annual earnings growth and over 100% revenue growth—but investors face risks such as regulatory delays, high production costs, and environmental concerns. Overall, while deep-sea mining has strategic backing, it remains a speculative and volatile investment.
RNZ News
4 days ago
- Politics
- RNZ News
Deep sea mining decision already made, Cook Islands opposition leader says
Cook Islands nodule field - photo taken within Cook Islands EEZ. Photo: Cook Islands Seabed Minerals Authority The Cook Islands' opposition leader believes the government has already decided it wants to pursue deep sea mining despite the science being inconclusive. Tina Browne has called for a pause on "the aggressive promotion of mining" by her government. However, she said she was fine with exploration and exploitation - the actual mining - if it is deemed environmentally safe. When asked how this position differed from the government's, she said, "The feeling that we have is that, while we want to tread cautiously and have the data available and the decisions made for safety, the government is promoting it in such a way that it has already determined it is safe." The Cook Islands is currently exploring the possibility of developing the industry but has not yet begun the actual mining. The Seabed Minerals Authority (SMA) is the government body in charge of deep sea mining in the Cook Islands. SMA's knowledge management director John Parionos said the National Environment Service is responsible for managing the process before an environmental project permit is issued. "This process is clear and legally mandated," Parionos said. He said it included the provision of a detailed environmental impact statement by the companies. While the authority and the National Environment Service have commissioned a strategic environmental assessment. "The [strategic environmental assessment's] purpose is to inform policy, not authorize any particular project to proceed to commercial minerals harvesting or other mining," Parionos said. "The results of the [strategic environmental assessment] thus far are encouraging but show key areas of uncertainty." Tina Browne Photo: Cook Islands News Browne said she did not want to be driven by the economic benefits of mining. "I want us to apply a lot of common sense and wisdom to the whole thing and not just be driven by the need to get money," she said. "We say that we are doing this for the future of our children, the children are saying, 'Well, there's not enough of us at these consultation meetings. "It's the same old elderly adults who are leaving us soon, we should be the ones to have a say in what we want for our future'."
Reuters
4 days ago
- Business
- Reuters
US announces policy changes for offshore mineral development
June 25 (Reuters) - U.S. President Donald Trump's administration on Wednesday announced policy changes it said would speed up the search and development of offshore critical minerals. The Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement are updating policies across all stages of development to "reduce delays, improve coordination and provide greater certainty for industry", the U.S. Interior Department said in a statement. The move is a part of the Trump administration's goal of reshaping a critical mineral industry dominated by China, the top U.S. economic rival. The policy update announced by the Interior Department follows an executive order by Trump in April aimed at boosting the deep-sea mining industry in an attempt to improve U.S. access to nickel, copper and other critical minerals used widely across the economy. For early-stage exploration, BOEM will apply existing streamlined environmental reviews whenever appropriate, and it plans to extend the duration of early-stage exploration permits to five years from three, the Interior Department said. The administration will minimize "unnecessary paperwork and compliance steps" to fast-track approvals for mapping, testing, and site development. BOEM will also start identifying potential areas for development without first issuing a formal request for information or forming a joint task force with state and federal agencies to speed up the leasing process, the department said. The U.S. Geological Survey will provide the bureaus with scientific data on critical mineral resources, as well as potential environmental impacts and hazards associated with seafloor development.
RNZ News
6 days ago
- Business
- RNZ News
Palau president weighs in on Trump's deep sea mining push
Palau's president says the executive order issued by US president Donald Trump in April to fast-track deep sea mining is not a good idea. To embed this content on your own webpage, cut and paste the following: See terms of use.
ABC News
20-06-2025
- Politics
- ABC News
New Zealand suspends aid to Cook Islands over China deal
On the program this week: New Zealand's government says it has suspended aid to the Cook Islands after the Pacific nation signed up to an agreement with China. The leaders of Tonga and Vanuatu say they're seeking clarity from the US government over possible new travel bans. Investigations are continuing into the death of a prominent Pacific Islander fashion designer, who was shot at an anti-Trump rally in Salt Lake City, Utah. Landowners in Papua New Guinea's New Ireland Province want the prime minister to put his opposition to deep-sea mining into practice. There's a call for labour hire companies to be licensed in New South Wales to prevent the exploitation of migrant workers. Solomon Islands and Vanuatu are teaming up on an ambitious plan to create a massive marine reserve covering 6 million square kilometres of ocean.
