---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-086437"
form_type: "8-K"
ticker: "TMC"
cik: "0001798562"
company_name: "TMC the metals Co Inc."
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T18:45:37.080694+00:00"
event_type: "regulatory"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# TMC targets Q4 2025 NORI-D production, 130% capacity boost to 3M tonnes, extends Allseas credit facility

## Summary
- NORI intends to submit ISA exploitation contract application after July 2024; expects production Q4 2025 if approved.
- Project Zero Offshore System capacity increased 130% to an estimated 3.0M wet tonnes per annum via upgrades.
- Company estimates $60–70M additional cash needed beyond $20M on hand; $25M credit facility extended to Nov 2024.
- Allseas granted exclusive use of Hidden Gem; 4.15M common shares issued to Allseas as consideration.

## SEC filing metadata
- accession: 0001104659-23-086437
- form_type: 8-K
- ticker: TMC
- cik: 0001798562
- company_name: TMC the metals Co Inc.
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: regulatory
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 8.01, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798562/000110465923086437/0001104659-23-086437-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798562/000110465923086437/tm2322494d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-086437
- JSON: https://secwatch.observer/filing/0001104659-23-086437.json
- Plain text: https://secwatch.observer/filing/0001104659-23-086437.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.