I Wouldn't Touch The Metals Company Yet -- Here's the One Number I'm Waiting On
2026-09-03 10:26
•Courtney Carlsen •The Motley Fool
•• • Axe Cap view
Why The Metals Company Isn’t Ready for Prime Time
Deep-sea mining promises big yields, but don’t bet on The Metals Company just yet.
The Metals Company (TMC) is chasing a futuristic dream: harvesting critical minerals from the ocean floor to break China’s grip on supply. Their target of 3 million wet tonnes of polymetallic nodules annually is ambitious, and the predicted $369 billion revenue potential sure sounds juicy. But here’s the catch — this isn’t just about mining; it’s about navigating an uncharted regulatory and technical frontier. TMC still waits on NOAA’s green light, with no proven track record in commercial-scale deep-sea mining. That means massive operational risks, regulatory uncertainty, and hefty upfront investments. South Africa’s mining giants like AngloGold Ashanti have decades of operational data and established frameworks — TMC has none. For local investors eyeing resources, this feels more like a speculative tale than a near-term play. If you’re watching this space, wait for clear proof that TMC can safely and profitably extract these resources before committing capital. The risk of heavy losses is still too high. this is just our opinion and not financial advice
Avoid The Metals Company for now. Instead, lean toward established mining stocks like AngloGold Ashanti for exposure to critical minerals, while watching regulatory developments closely.
- The Metals Company (TMC)
- AngloGold Ashanti
- NOAA regulatory delays or rejection
- Technical failures in deep-sea mining operations
6/10
The Metals Company (TMC) is pursuing deep-sea mining to help the U.S. secure critical minerals and reduce Chinese dependence. While the company targets 3 million wet tonnes of polymetallic nodules per year and projects significant long-term revenue potential ($369 billion), it remains in early stages awaiting NOAA regulatory approval. The analyst recommends caution until TMC proves it can successfully mine at commercial scale, citing high technical risks and lack of regulatory precedent.
Our take is based on reporting first published by The Motley Fool.