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TMC & Allseas Launch Seabed Mining Venture
Description
TMC secures major deal with Allseas for deep-sea polymetallic nodule harvesting, marking a significant step towards domestic supply chain development. The partnership, backed by NOAA approval, involves onshore refining with heavyweights like PAMCO, Glencore, and Korea Zinc. TMC aims for a processing plant in Texas, leveraging AI and automation. Financials look promising, with a combined net present value of $23.6 billion. Commissioning is set for late 2027, aiming to reduce import reliance and bolster national security.
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