June 16 (Reuters) - Deep-sea mining firm The Metals Co

said on Monday that South Korean refiner Korea Zinc

will invest $85.2 million, giving a boost to the

company's plans to supply critical minerals for the U.S. energy

transition.

The deal gives Korea Zinc a 5% stake in TMC and includes

warrants to buy more shares.

TMC shares jumped 7% in pre-market trading.

The move comes as TMC seeks a U.S. permit to commercially

harvest polymetallic nodules from the seafloor, which contain

nickel, copper, cobalt and manganese - metals used in electric

vehicles, defense and grid infrastructure.

"Korea Zinc is probably the only company outside of China

that has the capability to take TMC USA's materials and turn

them into metal product formats required in the United States,"

said Gerard Barron, CEO of TMC.

The Biden and Trump administrations have both pushed to

reduce reliance on China for these minerals.

Korea Zinc will buy 19.6 million shares at $4.34 each and

receive a three-year warrant to purchase 6.9 million shares at

$7 per share.

TMC said the deal is expected to close on June 26.