Latest news with #mineralreserves
Yahoo
05-08-2025
- Business
- Yahoo
TMC publishes pre-feasibility study for NORI-D polymetallic nodule project
TMC, a developer of critical metals, has released the technical report summary for the pre-feasibility study (PFS) concerning its NORI-D Polymetallic Nodule Project, situated in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean. This PFS is notable as it is the first-ever declaration of probable mineral reserves for deep-sea polymetallic nodules, prepared in compliance with Subpart 1300 of SEC Regulation S-K. In addition, TMC has published an initial assessment regarding the remaining resources in the NORI and TOML blocks within the CCZ. These reports follow TMC USA's application submitted in April 2025 for a commercial recovery permit under the US Deep Seabed Hard Mineral Resources Act, along with two exploration licence applications. The publication of these reports coincides with a 'strategic investment' from Korea Zinc, a company involved in non-ferrous metal smelting. These developments are said to underscore TMC's position in the exploration of significant undeveloped deposits of critical minerals. The move reflects a growing interest in the economic potential and development framework of the NORI-D Project amid ongoing efforts to enhance critical mineral supply chains in the US and allied nations. TMC chairman and CEO Gerard Barron said: 'The combined net present value of $23.6bn of the two studies should give investors a better idea of the economic potential of our total estimated resource. 'The PFS takes our NORI-D Project economics up the confidence curve and contains the declaration of mineral reserves – these are our first 50+ million tonnes with a potential commercially viable path to production, with more to follow as we advance our mine planning work. 'The phased project development plan will target initial production from the Hidden Gem vessel, with an estimated $113m of development capital expenditure each from TMC and Allseas. First production is targeted for Q4 [fourth quarter] 2027. 'This PFS brings us one step closer to responsible production, potentially opening the door to new pools of capital from strategic and government sources, and reinforces TMC's leadership in this emerging industry.' "TMC publishes pre-feasibility study for NORI-D polymetallic nodule project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
05-08-2025
- Business
- Yahoo
TMC Targets $23 Billion Sea Floor Wealth As ISA Oversight Looms
The Metals Company (NASDAQ:TMC) has released a pre-feasibility study (PFS) for its NORI-D project in the Clarion-Clipperton Zone. This study is the world's first declaration of probable mineral reserves for polymetallic nodules in international waters. 'The PFS takes our NORI-D Project economics up the confidence curve and contains the declaration of mineral reserves — these are our first 50+ million tons with a potential commercially viable path to production, with more to follow as we advance our mine planning work,' said CEO Gerard Barron. He added that the combined net present value of $23.6 billion across two studies gives investors a clearer picture of the project's PFS and accompanying Initial Assessment outline 73 million tons of measured and indicated wet nodules grading 1.30% nickel, 0.20% cobalt, 1.2% copper, and 30.2% manganese. An additional 1.2 billion tons are classified as inferred, grading 1.30% nickel, 0.20% cobalt, 1.1% copper, and 28.7% manganese. The NORI-D project is projected to generate an after-tax NPV of $18.1 billion and an IRR of 35.6%. The press release also outlined a $85 million investment from Korea Zinc, which in June acquired a 5% equity stake in TMC through the purchase of 19.6 million shares at $4.34 each. The deal also includes a warrant for an additional 6.9 million shares at $7, exercisable over three years. While the technical and financial potential of the project is drawing investor interest, the regulatory path forward remains uncertain. In March, TMC USA formally applied for a commercial recovery permit under the U.S. Deep Seabed Hard Mineral Resources Act (DSHMRA), sidestepping the International Seabed Authority (ISA), which has yet to finalize exploitation rules for international waters. President Donald Trump's April executive order fast-tracked U.S. licensing, triggering pushback from ISA member states and environmental groups. TMC's move has raised concern among delegates at the ISA's recent 30th session in Kingston, Jamaica. 'The deep seabed must be governed not for the few, but for the benefit of all humankind,' ISA Secretary-General Leticia Carvalho said. 'We are shaping a future that is equitable, science-based, and firmly anchored in international law,' she added. ISA will hold its next session in the first quarter of 2026. Despite a regulatory grey area, TMC aims to begin production by late 2027 using the Hidden Gem vessel, jointly developed with offshore engineering firm Allseas. Companies are expected to contribute $113 million each toward development capex. TMC stock is trading lower by 0.80% to 5.60 premarket at last check Tuesday. According to Benzinga Pro, the stock is up 404% year-to-date and has a market cap of $2.26 billion. Read Next:Photo by DenisSergeeich via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article TMC Targets $23 Billion Sea Floor Wealth As ISA Oversight Looms originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
01-07-2025
- Business
- Globe and Mail
$150 Trillion Mineral Wealth Could Transform U.S. Economy, Expert Says
Jim Rickards: 'America isn't broke — we're sitting on a fortune.' WASHINGTON, D.C. - July 1, 2025 - As the U.S. grapples with a national debt exceeding $34 trillion, a massive $150 trillion in untapped mineral reserves beneath federal lands could offer a game-changing solution, according to Jim Rickards, a former advisor to the CIA, Pentagon, and U.S. Treasury. 'This wealth could pay off the national debt multiple times over,' Rickards asserts. 'It's time to debunk the myth that America is broken.' A Hidden Economic Powerhouse Buried beneath public lands, these reserves — rich in copper, lithium, rare earth elements, and other critical minerals — have been locked away for decades by regulatory restrictions. Now, emerging opportunities are bringing these resources within reach. 'We're on the verge of accessing this enormous asset,' Rickards says. 'This could redefine America's economic future.' With global demand for minerals surging due to technology and clean energy needs, tapping these reserves could position the U.S. as a leader in the global economy. Reviving a Historic Opportunity In the 1800s, America's public lands were a springboard for wealth creation, turning dreams of 'rags to riches' into reality. Over time, regulations restricted access, leaving these resources largely untapped. Today, the potential to unlock these reserves could spark a new era of prosperity. 'This isn't a government handout,' Rickards emphasizes. 'It's an opportunity for businesses, investors, and everyday Americans to benefit from a resource that's part of our nation's foundation.' A Path to Economic Strength Rickards argues that leveraging these minerals could address economic challenges without raising taxes or increasing foreign borrowing. 'Trillions of dollars in wealth lie beneath our soil,' he says. 'Accessing it could drive unprecedented growth.' Experts suggest that tapping these reserves could create millions of jobs, bolster domestic manufacturing, and secure supply chains for critical technologies like electric vehicles and renewable energy systems. Why This Matters Now As global competition for resources intensifies, unlocking America's mineral wealth could strengthen national security by reducing reliance on foreign supplies. It also offers a chance to stabilize the economy and fuel growth for generations. 'This is about harnessing our nation's potential,' Rickards says. 'The wealth is here — we just need to act.' About Jim Rickards Jim Rickards, a leading economic strategist, served as an advisor to the CIA, Pentagon, and U.S. Treasury. With an esteemed career shaping geopolitical policies, including the Petrodollar Accord and crisis-era responses, he now edits Strategic Intelligence, providing insights on economic trends, national security, and global opportunities. Media Contact: Derek Warren Public Relations Manager Paradigm Press Group To view original press release on PR Gun, please visit Media Contact Company Name: Paradigm Press Group Contact Person: Derek Warren - Public Relations Manager Email: Send Email City: Washington State: D.C. Country: United States Website:
Yahoo
26-06-2025
- Business
- Yahoo
Integra Resources Launches Gold Resource Growth Drill Program at Florida Canyon Mine
Integra Resources Corp. (NYSE:ITRG) is one of the best Canadian stocks with huge upside potential. Earlier in May, Integra Resources announced the commencement of a gold resource growth-focused drill program at its primary operating asset, which is the Florida Canyon Mine in Nevada. The 2025 drill program, which began in early May, is the first phase of a multi-year growth strategy aimed at expanding mineral reserves and resources, extending mine life, and maximizing the value of Florida Canyon. The program is expected to conclude in Q3 2025, with initial results anticipated during the summer months of 2025. The 2025 drill program will consist of ~10,000 meters of reverse circulation/RC drilling, which is budgeted at ~$1.5 million. This drilling is focused on 3 key near-mine targets at Florida Canyon to support oxide mineral reserve and resource growth and extend the mine's operational life. An aerial view of a vast mining project in a remote area of a landscape. The program is designed to support a mineral resource and reserve update, along with a revised life-of-mine plan, in early 2026. The Florida Canyon Mine has a long operating history, having produced ~2.7 million ounces of gold from over 200 million tonnes of ore mined since operations began in 1986 through the end of 2024. As of December 31, 2024, proven and probable mineral reserves at Florida Canyon totaled 70.4 million tonnes at a grade of 0.35 grams per tonne gold, amounting to 785,000 ounces of gold. Integra Resources Corp. (NYSE:ITRG) is a precious metals producer that acquires, explores, and develops mineral properties in the Great Basin of the Western US. While we acknowledge the potential of ITRG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Globe and Mail
19-06-2025
- Business
- Globe and Mail
AEM's Reserve Growth Spurs Confidence: Can It Keep Drilling Success?
Agnico Eagle Mines Limited AEM made substantial efforts in the first quarter for the continuation of its mineral reserve replacement, a critical metric reflecting growth potential. At the end of 2024, AEM boosted its proven and probable gold reserves by 0.9% year over year to 54.3 million ounces. More notably, inferred mineral resources expanded around 9% to 36.2 million ounces, thanks to successful exploration drilling at Detour Lake, East Gouldie, Hope Bay, Meliadine, Fosterville and Macassa. Year-end expansion set a strong foundation, and the first quarter of 2025 saw further progress as drilling campaigns advanced key projects. During the quarter, AEM continued exploration drilling to extend the East Gouldie deposit at Canadian Malartic to the east and extend the newly discovered Eclipse zone. Underground conversion drilling into the upper eastern extension of the East Gouldie deposit also indicated potential to add mineral resources and mineral reserves to East Gouldie by the end of 2025. At Hope Bay, shallow drilling at Patch 7 also suggests the potential for mineral resource expansion. Drilling at the Marban deposit, added through the acquisition of O3 Mining, also focuses on mineral reserve and mineral resource expansion. Agnico Eagle's initiatives in expanding its reserve base and inferred resources position it as a growth-oriented player among major peers. Maintaining drilling pace and converting potential into formally declared reserves through 2025 will be key, as it constitutes a critical barometer for long-term growth. Among its peers, Newmont Corporation NEM logged gold reserves of 134.1 million attributable ounces at the end of 2024 (including assets held for sale), a 1.3% decline from 135.9 million attributable ounces a year ago, weighed down by depletion and unfavorable revisions. Newmont's go-forward Tier 1 portfolio included 125.5 million attributable gold ounces. While Newmont's overall reserve base remains substantial, the lack of growth raises red flags. Barrick Mining Corporation B reported robust growth in reserves, with its proven and probable gold mineral reserves climbing approximately 17.4 million ounces in 2024, a clear sign of strong reserve replacement. Barrick's attributable proven and probable mineral reserves were at 89 million ounces at the end of 2024, up from 77 million ounces a year ago. Barrick demonstrates proactive exploration and conversions, insulating its reserve profile from near-term production drawdowns. The Zacks Rundown for AEM Agnico Eagle's shares have rallied 56.8% year to date against the Zacks Mining – Gold industry's rise of 56.4%, driven by the record-setting upside in gold prices. From a valuation standpoint, AEM is currently trading at a forward 12-month earnings multiple of 20.27, a roughly 42.6% premium to the industry average of 14.21X. It carries a Value Score of C. The Zacks Consensus Estimate for AEM's 2025 and 2026 earnings implies a year-over-year rise of 42.6% and 0.8%, respectively. The EPS estimates for 2025 and 2026 have been trending higher over the past 60 days. AEM stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM): Free Stock Analysis Report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Barrick Mining Corporation (B): Free Stock Analysis Report
