The Metals Company (NASDAQ: TMC) said on Tuesday it has appointed former ExxonMobil (NYSE: XOM) upstream chief Liam Mallon to its board as the company advances plans to begin commercial recovery of polymetallic nodules in international waters under a U.S. seabed mining framework.
The move comes as the Trump administration signaled it is nearing approval for permits to mine the deep sea, part of a broader push to boost U.S. access to the critical minerals used across much of the country’s economy.
The miner in 2025 had asked the Trump administration to approve its plans to mine the international seabed, making it the first such company to seek the government’s permission to operate outside U.S. territorial waters.
Mallon, who retired last year after a 35-year career at Exxon, will also chair TMC’s Sustainability and Innovation Committee.
The company also said board member Brendan May would step down after two years on the board.
Exxon along with peers Occidental Petroleum (NYSE: OXY) and Equinor (NYSE: EQNR) are increasingly investing in lithium projects.
Exxon is developing lithium production from brine resources in Arkansas to supply the electric vehicle battery market as part of its broader push into critical minerals.
(Reporting by Katha Kalia in Bengaluru; Editing by Shailesh Kuber)
