The Metals Company drops after deep-sea mining regulations are delayed
- On Friday the International Seabed Authority ended its meeting with no deep-sea mining code agreed or adopted.
The regulatory body, consisting of 36 states, spent the last two weeks in Jamaica trying to agree on framework for ocean mining. Discussion has been suspended and future ISA sessions scheduled to resume talks. The delay hurt The Metals Company , which is advancing ocean mining operations. The stock traded down 23% today to $1.40."[We] also recognize that the vast majority of Member States worked very hard in the last 24 months and demonstrated strong continued commitment to finalizing the Mining Code through increased number of formal sessions and twelve informal intersessional working groups.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South32's base metals production up 17% in FY23 due to higher copper outputA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »
Trudeau government slammed for keeping oil company tax breaks in the midst of a ‘climate emergency’The federal government plans to keep exploration and development tax breaks available for fossil fuel companies.
Read more »
Toronto-based Electra to nearly triple cobalt supply to battery giant LGLG looks to lock in supply of metals needed for the energy transition away from fossil fuels. Read more
Read more »
Hedge funds testing gold waters as bullish sentiment hits 18-month highKitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
Read more »
Toronto-based Electra to nearly triple cobalt supply to battery giant LGLG looks to lock in supply of metals needed for the energy transition away from fossil fuels. Read more
Read more »