07:34 AM EDT, 08/04/2025 (MT Newswires) -- TMC (TMC) and the Kingdom of Tonga said Monday they have signed a revised sponsorship agreement under which Tonga will continue to receive benefits from any future development of seafloor mineral resources by Tonga Offshore Mining or another TMC unit.

Tonga remains committed to sponsoring Tonga Offshore Mining, working with the International Seabed Authority and meeting all obligations as a sponsoring state under international law, the parties said.

TMC shares were up nearly 13% in recent premarket activity.