Key Points
The Metals Company is a leading name among those interested in deep-sea mining.
American Ocean Minerals has recently announced a merger with Odyssey Marine Exploration.
All deep-sea mining stocks should only be options for those comfortable with speculative investments.
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Those plumbing the market's depths for robust growth opportunities arising from President Donald Trump's commitment to shoring up the nation's supply of critical minerals are surely familiar with deep-sea mining specialist The Metals Company (NASDAQ: TMC).
Although The Metals Company, the presumable leader in deep-sea mining, receives the lion's share of investors' attention, another company may soon eclipse it. Here's why.
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A merger that can make waves in the deep-sea mining industry
Earlier this month, American Ocean Minerals and Odyssey Marine Exploration (NASDAQ: OMEX) announced a definitive merger agreement. Valued at about $1 billion, the transaction will result in a combined company, American Ocean Minerals, that will trade on the Nasdaq stock exchange under the stock ticker AOMC.
When the merger is completed, American Ocean Minerals could sail past The Metals Company as an industry leader for a couple of reasons. For one, Tom Albanese serves as the chairman of the board of directors for American Ocean Minerals. Previously, he served as CEO of Rio Tinto, a leading mining company and one of the largest mining stocks by market capitalization. To navigate the uncharted waters of regulations and operational challenges associated with the nascent deep-sea mining industry, Albanese is a substantial asset. The Metals Company, however, doesn't have someone of comparable experience in a leadership role.
Perhaps an even greater point of contrast between the two companies is the nature of their resource bases -- a critical feature of mining companies. According to its preliminary economic assessment, American Ocean Minerals will, upon the closing of its business combination, have access to licensed areas containing 417 million metric tons of indicated resources and over 2 billion metric tons of inferred resources around the Cook Islands. In comparison, its exploration areas under U.S. governance include over 1.4 billion metric tons of inferred resources.
The magnitude of American Ocean Minerals' asset base is impressive. For perspective, The Metals Company reported 51 million metric tons of probable reserves, as well as measured, indicated, and inferred mineral resources totaling an additional 113 million metric tons.
Should investors dip their toes into a deep-sea mining investment?
Although The Metals Company is better known among investors in metal stocks, American Ocean Minerals has quickly become a name worth watching thanks to its upcoming merger.
At this point, both The Metals Company and American Ocean Minerals should remain on the radars only of investors with substantial risk tolerances, as neither has commenced commercial operations. Nonetheless, the companies are making progress, and they both have the potential to disrupt the mining industry, which, if they do, could provide investors with significant returns.
Should you buy stock in TMC The Metals Company right now?
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool recommends Nasdaq. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
