TMC stated that NOAA has determined that an application submitted by its U.S. subsidiary is in full compliance with the requirements of the Deep Seabed Hard Mineral Resources Act.
TMC’s subsidiary has submitted a consolidated application to the National Oceanic and Atmospheric Administration (NOAA) for an exploration license and a commercial recovery permit.
USA Rare Earth subsidiary Less Common Metals Europe SAS plans to develop a 3,750 metric ton per annum metal and alloy production facility in Lacq, France.
The company has announced that it has now received the only regulatory approval required and expects to close the acquisition on schedule, in line with its stated target for the fourth quarter of calendar year 2025.