Key Points
The Mining Company (NASDAQ: TMC) hopes to produce nickel, cobalt, copper, and manganese once it builds its mining operation. These metals are critical to industries like energy, manufacturing, and defense. The real story here, however, is that The Mining Company’s operations are expected to be located deep under the sea. The money-losing company is a high-risk investment, but there is an increasingly supportive backdrop to consider.
Deep-sea mining isn’t really a thing, yet
The Metals Company doesn’t generate any revenues at this point. It is spending heavily on exploration and evaluation, with the hope of someday building a deep-sea mine. It is difficult and expensive to build and operate a traditional mine; it is even more difficult and expensive to do that underwater.
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That said, it looks increasingly like the pieces are coming together to make The Metals Company’s big idea work. For example, it has been developing new technology that improves on the tech used in past deep-sea mining efforts. And it has the ear of very powerful people, largely thanks to the increasing importance of some of the metals it hopes to produce.
Trump, the government, and Japan
In early 2025, President Donald Trump signed an executive order to support the production of so-called critical minerals via deep-sea mining. The House Science, Space and Technology Subcommittee on Environment has held hearings to discuss the opportunity. And the United States has signed a treaty with Japan to work with that key global partner to support deep-sea mining, as well.
This is no longer just a company with a big idea. The Metals Company has the backing of some very important people. That’s good news, of course, but that doesn’t mean that business success is a sure thing. The path is simply clearing for The Metals Company to take its best shot. There is a huge amount of work yet to be done before the company is producing any materials from its mining operation, let alone producing sustainable profits.
Anywhere but China
The big story behind The Metals Company is actually China, which is the primary source of many of the most important critical materials the world uses. Given China’s willingness to use access to critical materials as a global bargaining chip, the United States and other countries want to diversify their sources of these materials. Deep-sea mining is an opportunity to do just that, with The Metals Company poised to benefit from the growing interest in the concept.
But it is still early days for this start-up business. Only the most aggressive growth investors should probably even be considering The Metals Company. And given the increasingly politicized nature of deep-sea mining, investors who buy the stock need to be prepared to watch this investment very closely.
Should you buy stock in TMC The Metals Company right now?
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