Anglo American hired advisers to sell two nickel mines in Brazil
The two assets produce together about 38,000 tons of nickel per year.
The Metals Company (Nasdaq: TMC) and Japan’s Pacific Metals Co. (PAMCO) have successfully produced approximately 500 tonnes of high-temperature material (calcine) during the first phase of a commercial-scale campaign to process polymetallic nodules at PAMCO’s rotary kiln electric-arc furnace facility in Hachinohe.
During the process, a 2,000-tonne sample of nodules was heated to remove moisture and initiate the transition of minerals to their metallic forms.
According to TMC, in the coming months, the calcine will be transferred to PAMCO’s demonstration smelting facility to begin smelting into a high-grade nickel-copper-cobalt alloy and manganese silicate.
“It’s very exciting to see the world’s first commercial-scale processing of our nodules. With decades of experience in processing nickel laterite at an industrial scale in its Hachinohe facility, PAMCO is the perfect partner to help optimize our near-zero-solid-waste flowsheet in preparation for commercial production,” said Dr. Jeffrey Donald, TMC’s head of onshore development.
In November 2023, TMC signed a memorandum of understanding with PAMCO to complete a feasibility study for the processing 1.3 million tonnes of wet polymetallic nodules (PMN) a year into high-grade nickel-copper-cobalt alloy and manganese silicate, which are feedstocks for the production of lithium-ion batteries, electrical infrastructure and steel.
Last June, the company announced that it had successfully produced the world’s first cobalt sulphate derived exclusively from seafloor polymetallic nodules. The cobalt sulphate was generated during bench-scale testing of TMC’s hydrometallurgical flowsheet design with SGS Canada at its facility in Lakefield, Ontario.
Formerly DeepGreen Metals, TMC has been trying to move forward with its plan to mine the ocean floor amid growing opposition from environmental and civil society groups.
In July, Deep Sea Mining Campaign (DSMC), The Ocean Foundation (TOF) and Blue Climate Initiative (BCI) filed a formal complaint with the US Securities and Exchange Commission (SEC) against TMC. They accuse the company of significantly misleading investors, government officials and the public through material misrepresentations and omissions.
TMC has said the nodule resource at the Nori Clarion-Clipperton Zone (CCZ) polymetallic project, located 4,000 meters deep in the northeastern Pacific Ocean, is estimated at four megatons of measured, 341 megatonnes of indicated, and 11 megatonnes of inferred mineral resources. It is estimated that 21 billion tonnes of polymetallic nodules are resting on the ocean floor in the CCZ.
Shares of TMC fell 2.18% by 12:10 p.m. EDT. The Vancouver-headquartered battery metals developer has a market capitalization of $301 million.
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