---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-073349"
form_type: "8-K"
ticker: "TMC"
cik: "0001798562"
company_name: "TMC the metals Co Inc."
filed_at: "2025-08-04T23:59:59+00:00"
generated_at: "2026-05-17T21:32:48.451368+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# TMC releases PFS and IA with combined NPV of $23.6B; declares world-first nodule reserves

## Summary
- PFS for NORI-D shows after-tax NPV $5.5B, IRR 27%, 51 Mt probable reserves with 18-yr mine life.
- Initial Assessment for TOML/NORI (excl. NORI-D) shows NPV $18.1B, IRR 36%, 670 Mt wet nodules over 23 yrs.
- World-first declaration of polymetallic nodule mineral reserves; first production targeted Q4 2027.
- Capital-light approach: initial $113M capex each from TMC and Allseas; tolling agreements with PAMCO.

## SEC filing metadata
- accession: 0001104659-25-073349
- form_type: 8-K
- ticker: TMC
- cik: 0001798562
- company_name: TMC the metals Co Inc.
- filed_at: 2025-08-04T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798562/000110465925073349/0001104659-25-073349-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798562/000110465925073349/tm2521867d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-073349
- JSON: https://secwatch.observer/filing/0001104659-25-073349.json
- Plain text: https://secwatch.observer/filing/0001104659-25-073349.txt

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