Vancouver, Canada-based deep-sea minerals exploration company TMC the metals company Inc. (TMC) explores for and mines nickel sulfate, cobalt sulfate, copper, and manganese. The company holds interest in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean. TMC’s recent partnership with Allseas Group to develop a commercial nodule collection system has helped the stock gain 4.6% in price over the past five days.
However, the minerals exploration company’s stock has plunged 73.9% over the past six months. This can be primarily attributed to a dip in the benchmark three-month nickel contract last week, amid Russia’s intensifying conflict in Ukraine and a heavy sell-off in the international metal markets.
