TMC the metals company Inc. has unveiled plans for a capital-light energy and mining project, focusing on the extraction of critical minerals from the ocean floor. The project's Pre-Feasibility Study $(PFS)$ highlights a strategy designed for speed, scalability, and efficiency, leveraging offshore vessels and onshore processing plants through tolling agreements. This approach aims to minimize upfront capital costs and streamline development timelines. TMC's offshore production system will utilize vessels equipped with advanced collection and transport systems, maintaining continuous operations through dynamically positioned transfer vessels. The project's estimated net present value is $23.6 billion, with plans for initial production from the Hidden Gem vessel, requiring an estimated $113 million in development capital expenditure from both TMC and Allseas. The initiative is part of TMC's broader goal to strengthen critical mineral supply chains, supported by strategic investments and regulatory applications.
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