Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 8

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 8
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 fully to the U.S. regime.

We have key strategic alliances with (i) Allseas Group S.A., a major contractor in the global offshore energy industry, which developed and tested a pilot collection system and is now working to modify it into the first commercial production system, and (ii) Glencore
International AG, which holds offtake rights (i.e., a contractual right to purchase a specific quantity of products over a defined period)
to 50% of the NORI nickel and copper production if produced from a DeepGreen Engineering Pte. Ltd.-owned or controlled facility. In addition,
we have worked with engineering firm Hatch and consultants KPM to develop a near-zero solid waste flowsheet (i.e., the potential to process
and refine nodules into critical metals while leaving almost no solid waste streams behind). The primary processing stages of the flowsheet
from nodule to NiCuCo matte intermediate were demonstrated as part of our pilot plant program at FLSmidth and XPS’ facilities. The
matte refining stages are being tested at SGS Lakefield. The near-zero solid waste flowsheet provides a design that is expected to serve
as the basis for our onshore processing facilities. In November 2022, we entered into a non-binding memorandum of understanding,
or MoU, with Pacific Metals Co Ltd, or PAMCO, of Japan pursuant to which PAMCO completed prefeasibility work assessing the prospect of
processing nodules using their existing facilities. In November 2023, we entered into a binding MoU with PAMCO whereby they committed
to completing a feasibility study (expected to be completed by mid-2025) to toll treat 1.3 million tonnes of wet polymetallic nodules
per year at its Hachinohe, Japan smelting facility, provided we obtain commercial production rights. The toll treatment is intended to
take place on a dedicated Rotary Kiln Electric Arc Furnace, or RKEF, processing line and produce two products: nickel-copper-cobalt alloy,
an intermediate product used as feedstock to produce lithium-ion battery cathodes, and a manganese silicate product used to make silico-manganese
alloy, a critical input into steel manufacturing. In February 2025, PAMCO successfully processed approximately 2,000 tonnes of nodules
from our integrated pilot collection system on their existing RKEF line, producing both nickel-copper-cobalt alloy and manganese silicate.
We expect this