American Marconi Wireless News - Deep Sea Rare Minerals and The Metals Company USA Sign Memorandum of Understanding to Explore Strategic Collaboration Opportunities

Under the terms of the MoU, DSRM and TMC USA will explore the potential for polymetallic nodules recovered by DSRM to be delivered to and processed by TMC USA in the future. Any such arrangement would depend on the completion of a standards-compliant prefeasibility study for DSRM's offshore operations. The MoU establishes a framework for further discussions that could potentially lead to one or more commercial agreements, subject to due diligence, negotiation of definitive terms, and any required regulatory approvals.

The Metals Company (through TMC USA) has undertaken extensive technical work to develop processing pathways for polymetallic nodules, including metallurgical flowsheet development, pilot-scale metallurgical programs, and commercial-scale processing trials. These efforts have been supported by engineering studies, plant design work, and metallurgical testing aimed at producing critical metals such as nickel, copper, cobalt, and manganese from nodules in an integrated processing system. TMC USA currently holds an exclusive right of negotiation with the Port of Brownsville on a lease and / or lease option for land sufficient to develop a domestic nodule processing and refining ecosystem for TMC USA and other American nodule developers, with the ultimate decision conditional on U.S. government support.

The MoU also contemplates potential collaboration in offshore exploration and operations. The parties hope to evaluate opportunities to coordinate offshore campaigns, review certain environmental and operational data, and assess whether DSRM's deep-ocean HUGIN AUV's, could support joint exploration and recovery activities.

"Deep Sea Rare Minerals and The Metals Company share a common vision for building a secure and responsible supply of critical minerals for the United States," said Anthony Romeo, Chief Executive Officer of Deep Sea Rare Minerals, Inc. "This MoU establishes an important framework for exploring how our complementary capabilities-offshore exploration and processing expertise-may work together as the industry advances."

Gerard Barron, Chairman and Chief Executive Officer of The Metals Company, added: "Advancing a responsible deep-sea minerals industry will require collaboration across the value chain. We welcome the opportunity to explore ways our companies can work together, combining DSRM's potential offshore exploration capabilities with the extensive metallurgical and processing work TMC has undertaken over the past decade. As we embark on site-specific feasibility work for processing and refining in Brownsville, Texas, we are pleased to be engaging with other credible nodule companies like DSRM who share our vision to support a domestic end-to-end ecosystem for polymetallic nodules."

The MoU is non-binding, except for certain customary provisions such as confidentiality, and does not obligate either party to enter into definitive agreements. Discussions between the companies are expected to continue as both organizations advance their respective regulatory, technical, and development programs.

Important Regulatory Notes and Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable federal securities laws. Forward-looking statements include, among others, statements regarding the plans, objectives, strategies, expectations, intentions, engineering and design activities, anticipated timelines, and potential future operations of Deep Sea Rare Minerals, Inc. and its subsidiaries, including Deep Sea Recovery, LLC, related to the potential exploration, evaluation, and long-term development of polymetallic nodule resources, including statements regarding the MoU and any potential future collaboration with TMC USA. DSRM does not currently hold exploration or recovery licenses for polymetallic nodules.
These forward-looking statements are based on current assumptions, expectations, and projections and are not guarantees of future performance. Forward-looking statements involve significant risks, uncertainties, and contingencies that are difficult to predict and that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, risks related to: whether the parties continue discussions or enter into definitive agreements; whether DSRM is able to obtain any required exploration or recovery licenses, permits, and authorizations from U.S. or other applicable authorities; engineering, technological, and manufacturing challenges; the performance, reliability, and integration of subsea systems and equipment; environmental assessments, baseline studies, impact evaluations, and evolving regulatory frameworks governing deep-seabed minerals; changes in governmental policy or political priorities, including those related to critical minerals; commercial, operational, financial, and logistical considerations; the availability and cost of capital and future financing needs; market conditions, commodity price fluctuations, and supply-chain uncertainty; potential delays associated with third-party engineering, fabrication, or testing; and other factors, many of which are beyond the Company's control. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. Deep Sea Rare Minerals, Inc. undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or circumstances after the date of this release, except as required by applicable law.
This press release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

About Deep Sea Rare Minerals, Inc.
Deep Sea Rare Minerals, Inc. is a U.S.-based holding company focused on the responsible evaluation and potential development of subsea mineral resources through its subsidiaries, with an emphasis on regulatory compliance, environmental stewardship, and long-term strategic mineral supply considerations. www.deepsearareminerals.com

Media Contact
Deep Sea Rare Minerals, Inc.
Email: [email protected]

About TMC-The Metals Company, Inc.
The Metals Company Inc. is focused on developing a new source of critical minerals from polymetallic nodules found on the deep ocean floor. The company is advancing technologies and research to enable the responsible recovery and processing of metals such as nickel, copper, cobalt, and manganese for energy, industrial, and infrastructure supply chains.

SOURCE: Deep Sea Rare Minerals, Inc.

View the original press release on ACCESS Newswire

P.Mathewson--AMWN