TMC and Allseas partner on commercial deep-sea nodule recovery system
The Metals Company and Allseas have signed an agreement to develop the world’s first commercial-scale deep-sea nodule collection system, with Allseas covering a significant portion of pre-production development and engineering costs.
TMC The Metals Company and offshore engineering firm Allseas have signed an agreement to develop, integrate, and operate the world’s first commercial-scale deep-sea nodule collection system. The robotic collector is designed to harvest polymetallic nodules rich in manganese, nickel, cobalt, and copper from the Clarion Clipperton Zone in the Pacific Ocean. Under the terms of the deal, Allseas will cover a significant portion of the pre-production development, engineering, and procurement costs, recovering these expenses through future production revenue.
The agreement aims to establish a seabed-to-shore supply chain for critical minerals, reducing reliance on current market dynamics where China controls approximately 70% of rare-earth extraction and 90% of processing. This strategic shift follows previous restrictions imposed by China on rare-earth elements and magnets, which are crucial for defence, electric vehicles, and wind turbines. TMC intends to use the system to mine the deep-sea floor, which is rich in these materials, to build a domestic supply chain.
TMC recently received compliance confirmation from the US National Oceanic and Atmospheric Administration (NOAA), which grants priority rights over designated areas pending final permitting. The agency is currently drafting a comprehensive Environmental Impact Statement, followed by a public comment window, with a final commercial permit decision expected by early 2027. This regulatory step removes a major hurdle for TMC as it moves toward commercial operations.
The operational mechanism involves a robotic collector that crawls the seafloor to pick up nodules, which are then pumped via a pipe to a surface vessel for transfer to onshore processing hubs. TMC and Allseas plan to commission the system in the fourth quarter of 2027, with full commercial production targeted to begin in 2028, assuming the timeline unfolds smoothly.
While the funding model aligns incentives and limits TMC’s need to deplete capital reserves during early development, execution risk remains high. Commercial deep-sea extraction systems have never been operated at scale previously, and the setup poses unique risks, including extreme pressure, toxic sediment plumes, and potential environmental impacts. Investors are advised to maintain a long-term outlook as the company works to turn deep-sea mining into a profitable venture.
