TMC

TMC the metals company Inc

Shipments had hit rock bottom in May after China put several rare earth materials, used in electric vehicles and missile-guidance systems, on an export restrictions list.

The U.S. State Department said on Tuesday it has begun talks with the Cook Islands over seabed exploration.

With projected cash costs of $1,065 per tonne of nickel (inclusive of byproduct credits) and All-In Sustaining Costs at $2,569 per tonne, TMC expects to operate in the lowest production cost quartile globally.

President Donald Trump has already issued executive orders to allow companies to extract minerals from the seabed, aiming to reduce the country's reliance on China.

The U.S. defense industry is now reportedly paying five or more times the previous price for specific materials and seeking alternative sources, as a direct consequence of Beijing’s curb on exports.

Chinese exports of the rare earth magnets jumped to 353 metric tons in June, up from a paltry 46 tons in May.

U.S. regulators reportedly granted two eastern Pacific mining licenses in international waters to the U.S. aerospace giant in the early 1980s.

Investing.com -- Shares of TMC the metals company Inc (NASDAQ:TMC) fell 3.3% on Monday after a blistering critique by short seller Iceberg Research targeted a recent bullish research note from Wedbush Securities that upgraded the company. The upgrade, authored by analyst Dan Ives, raised TMC to Outperform from Neutral with a price target hike to $11 from $6, citing increased U.S. support for domestic critical mineral chains and recent executive orders facilitating deep-sea mining.

Investing.com -- Wedbush upgraded The Metals Company to Outperform from Neutral and raised its price target to $11 from $6 given a stronger U.S. government support and a faster path to commercial deep-sea mining following a recent executive order.