The Metals Company said the Korean firm, a global metals refiner, will take a US$85.2 million equity stake, acquiring 19.6 million shares at $4.34 apiece. The deal also includes a three-year warrant to buy up to 6.9 million shares in The Metals Company at an exercise price of $7 each. (The Logic)

Talking point: The equity deal suggests the Korean multinational firm sees an opportunity to cash in on a potential deepsea mining rush, after a recent Trump administration executive order sought to open certain seabeds to critical minerals extraction. The company, which has already been exploring some seabeds using its autonomous robot technology, could be among the first to exploit the sea floor, which is rich with deposits of nickel, cobalt and other strategic metals. In a statement, Korea Zinc CEO Yun B. Choi said the company was “particularly bullish on the opportunity in critical minerals processing capacity in the United States.”