TMC the metals company Shares Fall Amid Uncertainty Over Deep-Sea Mining Plans

TMC the metals company (TMC) shares fell 7.56% as deep-sea mining uncertainties persist. The company's intention to mine in international waters has faced criticism from the International Seabed Authority and deep-sea advocates, despite TMC arguing that the ISA doesn't have exclusive jurisdiction over seabed mining activities. The controversy has led to a decline in TMC's stock price.

TMC The Metals Company (TMC) shares fell by 7.56% on July 2, 2025, amidst persisting uncertainties surrounding the company's deep-sea mining intentions. The stock's decline follows criticism from the International Seabed Authority (ISA) and deep-sea advocates, who argue that the ISA does not have exclusive jurisdiction over seabed mining activities.

The ISA, which is the only entity legally authorized to permit mining in ocean areas beyond national jurisdictions, has condemned TMC's move to apply for permits under U.S. law. Critics argue that TMC's actions violate international law and that the ISA's Mining Code is not yet ready to ensure effective protection of the marine environment. The ISA has delayed adopting the code, stating that it needs more scientific data to finalize it [2].

TMC has faced pushback from environmental advocates who believe that deep-sea mining is not a viable solution for addressing the global climate crisis. The company has shifted its narrative, now focusing on national security and reducing dependence on foreign adversaries like China for critical metal supplies. This shift has found support in the Trump administration, which has issued an executive order to fast-track the review and issuance of seabed mining permits [2].

The controversy surrounding TMC's deep-sea mining plans has led to a decline in the company's stock price. Despite TMC's argument that seabed mining is crucial for U.S. national security, the company's growth outlook remains highly speculative. The stock's recent performance highlights the risks associated with investing in TMC, which has seen massive gains this year due to investor optimism about its seabed mining capabilities [1].

References:
[1] https://www.theglobeandmail.com/investing/markets/markets-news/Motley%20Fool/33719908/why-tmc-the-metals-company-stock-is-plummeting-today/
[2] https://insideclimatenews.org/news/29072025/nations-denounce-deep-sea-mining-bid-pacific-us/