Korea Zinc Backs TMC In Bold $85M Push To Bypass China's Metals Grip

TMC, the metals company Inc. (NASDAQ:TMC), announced Monday that it will receive a strategic $85.2 million investment from Korea Zinc Co., Ltd. through a private placement of 19.6 million common shares priced at $4.34 each. The stock surged as much as 16% following the news.

The deal also grants Korea Zinc a three-year warrant to purchase 6.9 million additional shares at $7.00 each. TMC’s board approved the transaction, which is expected to close on June 26, 2025.

Once completed, Korea Zinc will hold roughly 5% of TMC’s outstanding shares, becoming one of its largest strategic stakeholders.

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Korea Zinc plans to work with TMC’s U.S. subsidiary to process polymetallic nodules into refined metals, copper foil, and precursor cathode active materials (pCAM). The partnership will explore establishing manufacturing capacity in the U.S. to strengthen domestic supply chains for critical minerals such as nickel, cobalt, copper, and manganese.

The collaboration stems from an ongoing agreement under which Korea Zinc is testing nodule samples supplied by TMC USA. Both companies aim to develop a vertically integrated pipeline for critical materials outside of China’s control.

The deal comes as TMC awaits regulatory approval for its commercial recovery permit from the National Oceanic and Atmospheric Administration. That process was accelerated following an April 2025 executive order by President Trump to fast-track seabed mining projects under existing U.S. law.

As the company prepares to release its pre-feasibility study later this year, TMC expects the Korea Zinc partnership to position it as a key supplier of secure, lower-impact metals for U.S. energy and infrastructure sectors.

Related ETFs: Global X Copper Miners ETF (NYSE:COPX), iShares U.S. Infrastructure ETF (NYSE:IFRA).

Price Action: TMC shares are trading higher by 16.82% at $5.07 on the last check Monday,

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