$TMCR

The Metals Royalty Company (NASDAQ:TMCR) said its Mesabi Metallics royalty asset in Nashwauk, Minnesota completed its first production blast on July 10, 2026, fracturing about 211,000 tons of ore and opening the first pit ramp. TMCR expects ore to feed DR-grade pellets under a 1.0% index-priced gross overriding royalty with a revenue floor, targeting first pellet production in H2 2026 and potential annual royalty cash flow of about $11 million at 7.28 Mtpa.

TMC The Metals Company (NASDAQ: TMC) is seeking U.S. approval to harvest deep-sea metals in the Clarion-Clipperton zone. According to the company, NOAA certified its exploration license application as in “substantial compliance” on May 28 and is fast-tracking review. The article also cites potential U.S. Defense support for critical-minerals supply and notes TMC has no revenue, reporting Q1 net loss of $20.6M and cash of $119M.

The Metals Royalty Company (TMCR) said it closed its purchase of a 1.0% index-priced gross overriding production royalty with a revenue floor on the Mesabi Metallics iron ore project in Nashwauk, Minnesota, for $132.5 million. TMCR also exercised an option to buy an additional 1.0% royalty (doubling to 2.0%) if funding is secured by July 31, 2026. Michael Hess was appointed non-executive co-chairman.