Better Mining Pick: Comparing The Metals Company (TMC) and SSR Mining (SSRM)

New Opportunities in Critical Minerals and Precious Metals

The growing demand for domestic sources of essential minerals has paved the way for emerging companies like The Metals Company (NASDAQ: TMC). At the same time, the recent surge in gold and silver prices has significantly benefited established precious metals producers such as SSR Mining (NASDAQ: SSRM).

If you are considering investing in either of these mining stocks, here’s a breakdown of what sets them apart and which might be the stronger pick right now.

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SSR Mining Thrives Amid Rising Gold and Silver Prices

SSR Mining operates several mines across the U.S., Canada, and Argentina. While its main focus is on extracting gold and silver, the company also produces base metals such as copper, lead, and zinc.

With precious metals prices climbing, SSR Mining reported outstanding financial results last year. The company’s revenue soared to $1.63 billion, marking a 64% increase from the previous year, fueled by significant jumps in gold and silver prices. Net income reached $395.8 million, a dramatic improvement compared to the $261.3 million net loss recorded in 2024.

Recently, SSR Mining divested its 80% ownership in the Çöpler Mine in Turkey, which had been closed after a fatal incident in 2024, for $1.5 billion in cash. According to Bank of America analysts, this move reduces the company’s risk exposure to emerging markets and allows it to concentrate on assets in more stable regions.

TMC Pursues Deep-Sea Mining for Critical Minerals

In contrast, TMC is a newer player in the mining sector, focusing on harvesting polymetallic nodules from the ocean floor. These nodules are rich in vital minerals like nickel, copper, cobalt, and manganese—key ingredients in lithium-ion batteries for electric vehicles and crucial for national security.

By tapping into these underwater resources, TMC aims to become a significant supplier of critical minerals, potentially decreasing U.S. dependence on foreign sources, especially China, which currently dominates the sector. However, TMC must overcome regulatory challenges before commencing deep-sea mining. The International Seabed Authority (ISA), under the United Nations Convention on the Law of the Sea, governs these activities globally.

Regulatory Progress and Strategic Shifts

Due to ongoing delays from the ISA in setting exploitation guidelines, TMC has changed course by submitting a consolidated application to NOAA under the U.S. Deep Seabed Hard Mineral Resources Act. As of March 9, NOAA found the application to be in “substantial compliance.” While this is not a final permit, it marks a positive step, moving TMC’s request into a formal review process.

Which Mining Stock Is the Better Choice?

Each company presents its own set of risks. SSR Mining is a well-established firm, but its fortunes are closely tied to fluctuations in gold and silver prices. Should these prices fall, the company’s stock is likely to decline as well. On the other hand, TMC is targeting production by late 2027 but still needs regulatory approval for deep-sea mining and may encounter legal obstacles.

If you are optimistic about the future of domestic critical mineral production and can tolerate considerable risk, TMC could be worth considering. However, if you believe gold and silver prices will continue to rise and want to benefit from that trend, SSR Mining is currently the safer bet.

Is Now the Time to Invest in TMC The Metals Company?

Before making a decision to invest in TMC The Metals Company, keep this in mind:

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